Author: Uzair Hamid
Buyers greatly depend on suppliers since the success of their business depends upon the product supplied to them. For buyers, suppliers should be reliable and pass minimum criteria. Buyers need suppliers not only for sourcing raw material but they can even provide 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 what buyers are looking for when selecting a 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, buyers can look for suppliers across the border in no time (See what buyers have posted in different categories). 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). Buyers try to get as much information as they can, as it helps them in performing a comprehensive comparison. Suppliers are advised to remain patient and try their best to provide excellent customer support during this phase.
Once buyers have a list of suppliers, they ask the suppliers for their quotation and sample, if needed. Suppliers are willing to provide free samples, which may vary from product to product. Moreover, TradeKey provides various Trade Tools. Quotation Builder is one of them, which can be used by suppliers to build a quotation for each of their product with price lists. To automatically reply with pre-defined quotation each time a buyer sends inquiry to sell offer or product or profile, suppliers can set these quotations as an auto reply too. (Try Quotation Builder)
While selecting supplier, buyers always keep in mind that cheap is not always good. Sourcing products at lower cost with a lower quality can incur them extra money if final product is damaged, faulty, malfunctioning. Returns and replacements not only make suppliers loose money but also damages business reputation. Affordability does remain a goal in sourcing supplier for buyer but it is never at the cost of poor quality products. Post latest sell offers on 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. Suppliers should keep in mind that buyer would always ask for discounts on bulk orders. Do not hesitate to offer them a room of bargain since they know that TradeKey alone has presence in more than 200 countries across 40+ industries with a member base of 8 million buyers and suppliers; and so they can reach to other suppliers for better offerings. Click here to see Companies by Categories.
Once the supplier has been selected, trade terms would be discussed, documented and agreed upon between agreeing parties. 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 buyer or contact TradeKey Fraud Department for any discrepancies.
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