Guide

Choosing the right suppliers

Introduction

Choosing the right supplier can make or break your business. A bad supplier can reduce your sales revenues and margins, damage customer relations, reduce the quality of your products and services, disrupt operations and increase costs.

In contrast, a good supplier will provide you with quality products and services that at least match, if not exceed, your business needs. They will deliver them reliably and consistently at the right time and for the right price.

This guide illustrates the importance of choosing suppliers strategically. It describes the range of factors affecting your choice and gives you a list of essential criteria for selecting a supplier.

Finally, it offers best practice advice on shortlisting potential suppliers and managing supplier relationships.