Find the BEST Suppliers

Associate Guest Post by Rusty Joerin of Woodsgift Enterprises

This is the second instalment of the Find, Bind and Mind your supplier’s series. This month I address finding the best suppliers of goods and services, ones that are of strategic importance to your organization. These suppliers have to be reliable, competent and efficient, in short best in class.

You may come to know of their existence through trade shows, your personal network such as referrals from colleagues in your business sector or from suppliers you trust. On-line business network services are a potential first step, but proceed with caution and perform proper due diligence. Some very competent specialty suppliers operate “off the grid”. I more than once found such a supplier who when contacted first asked me how I found him. I told him that I found him by contacting customers likely requiring his services and obtained their recommendation. That information gave both him and me confidence that we could successfully do business.

The first step in finding a supplier is determination of requirements. The next steps may lead to an advantageous refinement of those requirements.

Procurement professionals utilize a number of tools to find a supplier, the applicability of which will depend on the particulars of the situation.

Market sounding strategies will inform the buying organization about the depth and maturity of the supplier marketplace for your requirements. Formal requests for information and requests for expression of interest can when properly managed provide a great deal of information with a minimum of procurement risk.

Best practices for market sounding include assurances of confidentiality, concurrent direct invitations to potential suppliers with public posting of request documents on industry boards and clarity in writing the document.

The commencement of a supply relationship is reciprocal. The best suppliers will choose their customers carefully too.

Rusty James Joerin, SCMP is a Supply Chain Management Professional and accredited by the Purchasing Management Association of Canada. He offers procurement services primarily to public sector organizations that do not have a professional supply manager on staff and provides additional capacity to assist with project related supply.

Information about his experience and qualifications may be found at:www.woodsgift.com