Author: Uzair Hamid
Successful business depends upon finding right suppliers. Suppliers should be reliable and pass minimum criteria. Businesses need suppliers not only for sourcing raw material but they can even exist in the form of services, for instance, providing internet services. Choosing a supplier is crucial in product development phase, since the quality of raw material supplied will greatly affect the final product offered to customers. Thus, buyers are always looking for good suppliers that can offer them right merchandise at the right time and right place. Online B2B platforms like TradeKey provide a platform to buyers for searching reliable and verified suppliers. This article sheds light on how businesses can find reliable supplier and how can supplier-buyer relationship be managed.
In today’s world, the best way to find supplier is to go online. Through internet, businesses can look for suppliers across the border in no time (Post a buy offer to fetch supplier). Then, they can also compare between different suppliers and the quality of products offered to them. Suppliers can also be reached through trade shows and exhibitions (Check out up-coming trade shows). Once you have a list of suppliers, ask them for their quotation and sample, if needed. Suppliers are willing to provide free samples, which may vary from product to product. Get as much information as you can, as it will help you in performing a comprehensive comparison.
While selecting supplier, always keep in mind that cheap is not always good. Sourcing products at lower cost with a lower quality can incur you extra money if final product is damaged, faulty, malfunctioning. Returns and replacements not only make you loose money but also damages business reputation. Affordability does remain a goal in sourcing supplier but it should never be at the cost of poor quality products. Check out latest sell offers placed by suppliers at TradeKey at competitive prices.
After affordability, reliability of a supplier comes into the mind of a buyer. Smooth running of business operations require adequate level of inventory at the time when production is going on. In this scenario, buyers prefer to have large suppliers since they have sufficient resources to deliver the specified quantity of goods on the agreed date. Considering this, online B2B portals like TradeKey provide noticeable options to judge a supplier. For instance, on TradeKey buyers can see Trustpoints and company’s reviews. Please read our “Safe Trading Advice”
Furthermore, buyers definitely get attracted to experienced suppliers. Buyers look for suppliers that have good record of delivering materials. This is an important factor when buyer wants to enter into a long-term relationship with any supplier. It is recommended that buyer should search for verified supplier and carry out detailed due diligence. If needed, buyer can also check out for certified suppliers. Buyers can see for how long the company has been on TradeKey through its membership year mentioned on company profile.
Location of a supplier affects the cost of product. Supplier located at a far distance would mean higher delivery cost and longer delivery time. However, buyers would still do not mind paying extra money if the supplier is reliable and capable enough to provide good quality products at a competitive price. As a buyer, you can always ask for discounts on bulk orders. TradeKey has presence in more than 2000 countries across 40+ industries. Click here to see Companies by Categories.
Once the supplier has been selected, trade terms should be discussed, documented and agreed upon. This will avoid disagreements in future or in the case of any conflict. Document should note down supply conditions, price, payment terms, warranty periods, policy for returns and replacement, insurance, intellectual property, etc. It is suggested to involve business and law experts to draft a contract and all points are covered. In case of dispute, address it to the concerning party promptly. Always give a feedback to supplier after availing services or contact TradeKey Fraud Department for any discrepancies.
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