LONDON--(BUSINESS WIRE)--For a lot of people, it’s hard to end things—to pick up that phone, send an email, or say it to their face that it’s over, it isn’t working out, and it’s time to for both of you to move on. You tell yourself that next time you’ll choose right and won’t jump into things so quickly, but you keep finding yourself back in the same cycle of dissatisfaction, lying awake at night and wondering, Why? Why can’t I find the right supplier for my business?
Fortunately, the solution to your supplier commitment woes might be simpler than you think. Setting your priorities, forming a plan, and following a series of easy steps can help you find the supplier of your dreams, settle down, and let you work happily ever after once and for all. Platforms such as BizVibe, have created a network which makes finding the right supplier easier than ever before, offering a variety of solutions dedicated to helping businesses find trade partners best suited for their motives. Registering today and following these steps will set you on the right path to finding the supplier that is best for your business and ending the cycle of bad supplier break-ups for good:
BizVibe’s Guide to Finding the Right Supplier
- Consider your customer: You should first take into consideration what factors are important to your customers. This can include certain features, price points, and methods of purchasing. You should also consider whether you will be selling to individual consumers or groups and businesses, and whether or not their orders will be for single products or in bulk. Knowing your customer base and market will allow you to adjust what you are looking for in a supplier to cater to the people who will be buying your products and making you money.
- Decide what type of supplier you need: You need to make a choice regarding the type of supplier you are going to need to push your business forward—for example, are you going to use a manufacturer, a distributor, or an importer? The supplier that will be best for you is largely dependent on what type of business you have and what stage your business is at. Manufacturers, for example, tend to require that you order in bulk. New, small businesses may not yet be equipped to handle bulk orders, while for large, established businesses, this is the best option. You should know where your business stands in the supply chain and in the industry, and should have a good understanding of what your supply chain strategy will be going forward.
- Look for the best deal: Now that you know the type of customer you are catering to and the type of supplier you will need, you can focus on finding the best deal possible. However, you should keep in mind that just because something is cheap doesn’t mean that it’s the best value for your money. In addition to suppliers’ costs, you should also look at their reliability, their reputation, and their location. A cheap but unreliable wholesaler will be worse for your business than a stable and reliable supplier that has higher costs. Similarly, a supplier who has low costs but is located further away from your business may end up costing you more in the long run due to freight costs and shipping fees.
- Don’t be afraid to negotiate: Most suppliers are open to negotiation regarding price and order size, and initial negotiations can often give you a good idea of what doing business with a particular supplier will be like over the long term. Negotiating is often easier and can result in greater cost savings and benefits for large, established companies than small ones, but it’s possible for businesses of all sizes and types to successfully negotiate better agreements and deals with their suppliers or choice and optimize their supply chain management.
BizVibe is home to over 7 million companies, across 200+ countries, covering all sectors. The BizVibe platform allows you to discover the highest quality leads and make meaningful connections in real time. Claim your company profile for free and let the business come to you.
BizVibe is home to over seven million company profiles across 700+ industries. The single minded focus of BizVibe’s platform is to make networking easier. Over the years, we've searched far and wide to figure out how businesses connect and enable trade. That first interaction is usually fraught with the uncertainty of finding a potential partner vs. a potential nightmare. With this in mind, we've designed a robust set of tools to help companies generate leads, shortlist prospects, network with businesses from around the world and trade seamlessly.
BizVibe is headquartered in Toronto, and has offices in London, Bangalore and Beijing. For more information on the BizVibe network, please contact us.