Choosing the right supplier

Istock 000008140633xsmallFor you to offer high quality products or services, choosing the right supplier is a key step in your supply chain management. Smart choices will allow the process to flow smoothly and ensure that your customers get what they want, when they want it.

Before you can assess any potential suppliers, it is a good idea to fine-tune your requirements. Optimal suppliers should be able to tailor their offerings to your needs — not the other way around.

The lowest price may seem attractive, but quality, service, reliability and delivery time are also important factors. Your goal is to do business with commercially viable suppliers. If their prices are too low, they might not be around long enough to serve you.

It makes sense to cultivate more than one supplier relationship and build a reliable network, so that you do not run into problems if one of them has a setback. You may draw on a variety of sources to build your base:

The time and effort you put into the search is an investment towards developing fruitful professional relationships that can pay off for your business. You may wish to consider the following steps when starting the process:

Here are some questions that might help with your choices:

Once you choose your suppliers, the next step is the on-going process of relationship building. You never know when you may need to rely on them to help out under unusual circumstances.

For more resources, check out our section on Finding and managing suppliers.


Posted by nipa on August 4, 2011
we are Indian we want to go to Canada for business purpose. We are interested to Cons traction business. So I check the blog. Sufficient information are their. If You are give me quite help for starting to business in Canada it will be pleasure for ourselves.

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