5 Effective Ways to Find the Right Supplier for Your Business
Finding and selecting the right supplier for your business needs is very important to ensure that you can produce and deliver products on time, at the right price, and according to your quality standards.
By applying certain supplier selection criteria, you can identify supplier companies that will work with you to meet your customer demands.
Here are 5 effective ways to find the right supplier for your business.
1. Set Your Criteria
Make a list of criteria that must be met by the supplier company to provide the goods you need. These criteria can include issues such as:
- The waiting time is required from the order stage to receipt of goods.
- Minimum and maximum order quantities.
- Storage and handling facilities.
- Method of shipping goods.
- Quality assurance process.
- Payment terms and conditions.
- Return policy if there are defective items.
- Contact or reference that can be contacted.
By setting criteria in advance, it allows you to evaluate potential suppliers for each item you need. This is also necessary to ensure that you do not cooperate with suppliers who can hinder your business.
2. Define Your Process
Identify what methods you will use to find suppliers that match your criteria. Decide whether you will publish about your supplier criteria and wait for offers from them, or you are approaching the selected supplier company yourself.
Make a timeline or time frame so that the supplier selection process has a clear time estimate. Appoint your best team members to review proposals and recommend a list of the best suppliers to choose from.
3. Make a Call for Auction
Make calls for action based on the supplier selection method you are using. This can be a Request for Proposal (RFP) or Request for Quotation (RFQ). Regardless of the form, the RFP or RFQ must contain complete details of the product or service you require, in what quantity, date of delivery, and quality standards according to your criteria.
Ask the bidders to provide detailed information on the process they use, the stability of their raw material suppliers, and the reasons why you should choose them as your supplier.
4. Evaluating the Bid Submission
Compare every offer you receive with the criteria you have previously set, and ask any less obvious questions. If your need is in the form of a service, you should review the services outlined in the proposal, and consider whether the service is suitable for your needs.
You also need to identify what the agreement or period of cooperation is with each supplier to ensure that you will not be trapped in conditions that can harm your business.
5. Monitor Supplier Performance
Even big-name suppliers may make mistakes. Make sure you continue to monitor their performance regularly. This will help you supervise their work, and ensure they fulfill all of the agreed agreements.
The results of this monitoring will also help you when it comes time to talk about contract renewal, so that you will know where your bargaining position is.
Thus a discussion of 5 effective ways to find suppliers for your business. For your business to grow, don’t forget to advertise through the Froggy Ads service, you can start by advertising your products so that later you can increase visitors on your online business portal. Froggy Ads is an online advertising service that can help you control all your product campaigns. helps you target your desired marketing target and gives you many options to market your product.