How To Get A Good Supplier

Because suppliers perform a crucial role in the business process, business owners and managers must know how to select one who provides what the organization needs.

This is easier said than done. Choosing a supplier is hard work and requires making a critical decision. The wrong one can cause your business to spend more on poor quality products or services, which can, in turn, have a huge impact on your finances.

Here are some of the qualities to look for in your prospects:

Deep knowledge of the trade. A good supplier is one who demonstrates wide knowledge and mastery over its trade, whether their products are as simple as balloons and ink, to more complicated audio and visual equipment. Look for a company that not only wants to sell you their products, but also informs you of the supplies they are ordering: supplies that are most useful for certain occasions and how they must be used or operated. A good supplier understands the needs of different customers, and knows how to act upon them.

Good customer service. Good suppliers handle their customers fairly and with courtesy, and they honor all the conditions agreed upon and stated in the contract. See if they really listen to you when you explain the situation of your company, and if they offer aftersales support. Find one who knows the importance of quality service to customers.

Willingness to negotiate. Look for one that sells at a reasonable price. Explore different prospects, ask for quotations, and compare them. Once you have them, do not just look for the lowest price—look for the different services and warranties that they have added, and the terms and conditions they give to their customers. See which price matches well with the offers.

It will also benefit you if you can find a supplier who is open to negotiate the price. There may not be a lot of them, especially if it’s your first time doing business. Most suppliers often only allow negotiation with loyal and trusted customers, so make sure to build a good relationship with those you like.

On-time delivery. You may have found a supplier that ticks off the previously mentioned qualities, but do they deliver on time? When it rains, will they still be able to deliver the set of sound equipment you need for your event? What are their guarantees if ever they fail to deliver on that date? For businesses like event organizing companies, on-time delivery is a top priority, as their reputation and ability to complete their project with another client is on the line. This is why most of them are willing to spend a bit more for their trusted supplier. If you are in no hurry, still see if your chosen supplier can deliver on time because it would tell you how responsible and trustworthy your supplier is. This is one of the keys in finding a long-time partner in the business.

After-sales support. One of the indicators of quality service is aftersales support. Did they ask for any feedback? Have they checked if you have purchased the right product? Did they try to solicit your suggestions on how they could improve on their services? After-sales support shows how involved and interested suppliers are to their customers. It is a sense of going beyond the mone, and aiming to provide service that goes the extra mile.

*Originally published by the Manila Bulletin. D-4, Sunday, February 22, 2015. Written by Ruben Anlacan, Jr. (President, BusinessCoach, Inc.) All rights reserved. May not be reproduced or copied without express written permission of the copyright holders.