As a manufacturer, you are tasked with producing various items. Most, if not all, of the items you manufacture, will be passed through logistics chains to other businesses that either use or retail these products. In order to complete orders and have the products you manufacture ready to ship on time, you must not be hindered by lacking supplies. The following are a few things you can do in order to ensure that your manufacturing company is working with reliable suppliers.
Look At Longevity:
One of the best indicators that you are working with a stable, reliable supplier is seen in how long they have been doing business as a supplier. Older suppliers, those who have not frequently changed their business, will tend to have an established reputation and a solid track record. Their ability to remain in business for such a long duration depends on their being a reliable supplier to the companies that depend on their business.
Order From Larger Suppliers:
In the world of supply chains, the size of the supplier really does matter in a pinch. When you order supplies from a larger supplier, you run into less of a risk of that supplier being out of stock in the item or raw materials you are in the market to purchase. Even if there is a run on a specific material or item, chances are a larger supplier will still be able to fill your company’s order more reliably than a smaller supplier will be able to do.
Practice Evaluating The Ideal Supplier:
If, for example, you were looking for a reliable polyurethane casting material supplier, you would want to actively look for a company that is not too far from your business’s location. You would also want to check if their senior executive staff has been with them for the long-term and that they have a reputation for getting their shipments out on time.
Work With Multiple Suppliers:
You may be faced with a situation where the reliability of your supplier, for a given material or item, is somewhat sketchy. In this situation, it is always smart to have a second supplier of that resource to order from to be safe, not sorry. This way your business will not be hung up waiting for supplies that come in late or that never get shipped at all.
Smooth Operations Are Key:
While you might think it is a hassle to consider more than price when ordering from a supplier, it is important to realize that a good, reliable supplier can be a critical asset to the smooth operation of your business. Suppliers you can count on will not be in the habit of leaving your company high-and-dry. In addition, many suppliers can keep you informed about important trends and changes that arise with respect to the supplies you order. They may even let you in on what your competition is up to if you know how to build solid relationships with the contact people working for your suppliers.