Suppliers: How to Find the Right Ones!

In today’s business scenario finding industry partners such as good wholesale suppliers is almost as difficult as finding loyal customers. This is because just as you are looking to make profits so are they and often when business goals clash there is disastrous game of one-upmanship follows. So how do you avoid this?

Well the key lies in not only getting the right wholesale suppliers but also maintaining a good relationship with them. So let us get to the criteria that you should set for selecting a wholesale supplier, without further delay.

When you are starting off with the task of selecting a wholesale supplier, you will be well advised to remember that the supplier is the life-blood of your business. This is true irrespective of whether you are into manufacturing or retail.

Your shortlist should ideally consist of local suppliers. If there is a dearth of them in your area then you may look forward to suppliers who might be based a bit further from your business establishment. This is necessary because a local supplier can ensure quick delivery and lesser transport costs added to the total expenses that you incur.

You may also look at those wholesale suppliers who have a proven track record in the business. Thus you can actually rely on them to be the pillars of success for your business. This is important because if the supplier fails you then your business collapses as customers won’t be waiting for your excuses. Another very important criterion should be the prices that they are quoting for the material to be supplied and the peripheral services. You have to know the ‘going rates’ and only then can you bargain for the best deal. But do remember not to haggle too much with a supplier who you think is the one you need to get hold of. In the process you should also keep in mind their interests and try not to project yourself as a ‘shark.’

When you have zoomed in on potential supply-partners you need to go over the fine print thoroughly. This means that the agreement should include mutually consented policies regarding return of goods, damaged goods, credit periods, billing cycles and interest on accrued payments. This will ensure that there are no loopholes once the deal is inked.

And finally when you have started to do business with your chosen wholesale suppliers, you may want to take good care of your ties with them. This may need you to include that ‘human touch’ in business dealings. So in addition to adhering to your contractual bindings, you may want to do little things that might make them feel ‘important’. For example you might try calling them up once in a while just to know how they are doing and keeping the business out of the conversation.

The advantage of building a good rapport with suppliers is that you can then expect them to go that ‘extra mile’ for you and can think of asking for a favor or two when times are tough.

Finally, online directories like Salehoo can assist you greatly in your search for the right wholesale suppliers. At Salehoo you can for a minimal fee, get access to suppliers from across the globe and even share and view feedback about them. So you may want to visit Salehoo to find the best wholesale suppliers for your business.

This entry was posted on Wednesday, October 21st, 2009 at 4:55 am and is filed under Dropship Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Spam Protection by WP-SpamFree