From Selection to Management: How to Identify, Choose, and Manage High-Quality Suppliers
Finding and selecting the best manufacturer for your product can seem daunting and sometimes nearly impossible. Whether you’re searching for a supplier domestically or internationally, the hardest part is knowing where to start. Choosing a high-quality manufacturer is a critical component in the success of your business. The reality? Your supplier is in control of your costs, the manufacturing of your product, the packaging of your product, and the shipping of your product. You have to trust that the supplier of choice is manufacturing a high-quality product at a competitive price.
March 25, 2021
What Qualifies a Supplier?
Are you looking for a qualified supplier? Do they have enough experience? A reputable vendor may offer you an abundance of certifications that qualify them to be an approved supplier, adhering to firm quality control procedures. In contrast, other suppliers may not have these achievements. When pursuing a vendor, it’s essential to ensure suppliers are willing to share their certifications and experience with you. As product quality standards vary greatly amongst industries, it’s necessary to know that your supplier meets the quality standards and industry best practices specific to your products’ needs. Showing proper and appropriate documentation for production and quality control should be essential in selecting your next supplier.
While HB International continues to expand its market reach, our team is regularly pursuing new suppliers to meet our customers’ needs. Through HBI’s extensive research and personal recommendations, we’re able to continue growing our list of approved suppliers to ensure your company and your products receive the very best quality and care.
Is Your Supplier Financially Stable?
Suppose you’ve found an exceptional supplier that has all of the certifications to produce a high-quality product. The hard work is done, correct? Not quite. What they may not have shared with you is that they’re on the verge of bankruptcy. Unfortunately, with any hardship or obstacle, such as our current global pandemic, manufacturers may experience financial instability, leading them to go out of business. The good news? There are many ways that you can ensure you’re choosing a vendor that is financially stable and ready to take on your next project.
It’s critical to vet your prospective supplier financially. Taking time to do background research will help eliminate potential risks to your business and prevent the potential of financial loss and damage to your company’s reputation.
Set The Tone Early
Communication
How will you convey your company’s needs? Establishing good, clear communication at the beginning of your supplier relationship is a great way to set the tone. As in any relationship, inadequate communication or a lack thereof can lead to supplier performance complications down the road. Ensuring your approved supplier understands your demands and is willing to work with you is incredibly important to the success of your business and your relationship.
Factory Audits and Inspections
Audits and inspections play a critical role in establishing and maintaining a healthy working relationship between customers and suppliers. Ask yourself, is your supplier comfortable with you completing audits and product inspections? They should be! If not, you may want to consider selecting a different supplier. An unwillingness to share operating details and products with you is a big concern. Factory audits provide companies with a tiny glimpse of what a typical operating day is like. Conducting regular audits can improve factory efficiency and assist in eliminating risk in your supply chain.
Product inspections are also another way to eliminate supply chain risk as they allow customers to sample the product before it is shipped for retail. Production inspections and pre-shipment inspections are opportunities that companies can use to see in-progress production and test the product before it arrives in customers’ hands. The ability to work with your supplier and ensure products are being produced to conform to product specifications and meet customer expectations are critical.
“Teamwork Makes the Dream Work”
You’re a team. You and your selected supplier must work together to design, develop, produce, and ship a product. How can you help to motivate your suppliers to ensure you’re both set up to be successful? Invest in your relationship. It takes an adequate amount of time, energy, and effort on both sides to ensure you’re both set up for the greatest possible outcome.
How Can HB International Help Your Business?
HB International values its relationships with both our suppliers and our customers. As we bridge the gap from customer to supplier, we ensure that everyone involved is taken care of and expectations are met. Our team has a systematic approach when it comes to selecting and managing our suppliers. Working together cultivates a strong commitment from all of the parties involved, ultimately becoming reliant on each other.
Let us help you get started on your next project!
