Getting the right supplier for your business is critical in delivering top-notch results to your clients. As a manufacturer, it’s important that you work efficiently to avoid production delays and reworks. The first step is ensuring you have a good supplier for your industrial parts.
Having the wrong supplier results in poor-quality products, constant delays, and an inability to meet the growing needs of your services. Therefore, consider the following tips to select the right supplier for your industrial parts:
1. Check Their Reliability
As a manufacturer, you have a production timetable and consumers waiting on you. You can’t meet these deadlines if your supplier takes time delivering the tools and materials you need to kick off your production. It doesn’t matter how small the equipment they supply is; delays in delivery stall your work and you end up losing money. If you’re using grooved clevis pins as a fastener, your supplier can mess you up when they don’t deliver on time.
So, when picking your supplier, ask current and past customers about their delivery times and how well their schedule works. Choose a supplier with a history of beating or meeting schedules and short delivery times.
2. Check Your Budget
As a business, profit is your top goal, and saving it is part of the process. Hence, when choosing your supplier, pick the one whose equipment saves you money by fitting into your budget and not resulting in cash overflow.
However, don’t focus too much on the price sticker and end up making a cheap but costly choice. A supplier with cheap products upfront doesn’t always mean a good choice. Cost shouldn’t be all about the money but also the quality of the equipment you’re getting. So, as you choose your supplier, look at the prices and product quality that meets your budget.
3. Confirm Their ISO Certification
The right industrial parts supplier for your business should have an International Organization for Standardization (ISO) certification. A supplier with ISO certification has the right parts you need to run your company effectively and a proven reliable system. This introduces improvements to your company’s production process.
Luckily, you can easily check a company’s ISO certification. If a supplier doesn’t have one and you want to pick them, check the reason why. It could be that they don’t meet the standards or haven’t applied. In any case, avoid suppliers who haven’t met the ISO standards.
4. Look At Their Location
The location of your supplier matters a lot. It determines how your business is sustainable. A local supply chain reduces the supply cost, increases flexibility, facilitates more control, and helps your community. Meanwhile, distant suppliers lead to longer delivery times and a great risk of poor schedule adherence. Besides, the freight costs can be costly for you.
5. Check The Supplier’s Communication
Proper communication is a clear indicator of a serious and committed supplier. Your parts supplier should contact you frequently for updates and progress. Thus, you should pick a supplier with a clear and open communication channel. They must also be trustworthy, available, professional, and give you excellent customer service.
6. Call For Bids And Evaluate The Applicants
When choosing your industrial parts supplier, you should communicate and call for bids from interested parties. Once you get the bids, evaluate and compare the suppliers to find the one that suits your qualifications and budget standards. Be attentive to the pricing of the bids and avoid suppliers who charge high, cutting into your profit margin.
Moreover, ensure your supplier’s bid is valid. Request for the supplier’s ISO compliance certificate or product samples. Remember, you can still be implicated in fraud if your supplier sells stolen products to your company.
After you pick a supplier, negotiate the contract and ensure it gives you favorable prices that are profitable. You can also consult your legal team to ensure the contract is correct.
7. Compare Your Values
Your industrial parts supplier is someone you’ll work with for a long time. You can only work well if your values align. So, finding the right partner is more than cost and return on investment.
If social responsibility and environmental sustainability are your corporate values, then you need a supplier who is committed to these values. A good choice for you is someone who is helping communities improve their lives through education or a supplier who tries to reduce industrial and packaging waste. Go with a supplier who shares your values, reduces disagreements, and makes your partnership seamless.
Conclusion
Choosing the right industrial supplier for your business might be a bit complex, but it’s worth the struggle. The supplier you choose can make or break your business, so it’s crucial you get the right one. By defining your needs upfront and considering the tips above, your chances of getting the right supplier increase. However, do your due diligence before signing contracts to ensure you aren’t scammed by illegitimate vendors.
