Suppliers are vital for almost all businesses around the world. If there are no raw materials available to create what is sold or manufacturers that can provide what is resold, growing is practically impossible. There are countless services and supplies that businesses consume as overhead, ranging from Internet access to paper clips.
When you look for a supplier, you practically look for a partner. Evaluating any potential partner is an important business operation so always consider the following tips offered by MJ Freeway’s cannabis consulting experts.
Suppliers are normally divided into 4 categories:
- Manufacturers – The prices from such sources are normally the lowest unless retailer location will make shipping freight too costly.
- Independent Craftspeople – They offer exclusive distribution of creations that are unique.
- Distributors – These are often referred to as jobbers, brokers or wholesalers. They are buying in higher quantities from different manufacturers in order to resell at a higher price.
- Import Sources – Numerous retails are buying foreign goods but they do it from domestic importers that work in a similar way to the domestic wholesaler. Alternatively, based on overseas sources familiarity, traveling abroad in order to purchase goods is a possibility.
How To Identify A Really Good Supplier
Many growing companies just think about prices as they compare suppliers. Price is definitely really important as you select suppliers but you do have to think about a lot more. Keep in mind the fact that all suppliers are interested in making a good profit. When you agree to work with a specific supplier, you want to negotiate lower prices on what is sold to you. In the event that you cannot promptly pay the bills or there are problems with bills, the best suppliers will not work with you.
The second thing you want to consider after the price is reliability. It is a really key factor because the best suppliers are those that are going to ship the appropriate number of items, just as it was promised, all on time, while guaranteeing everything will be high-quality. In many cases the best possible reliability is offered by the large suppliers but you cannot dismiss the smaller suppliers. When you become the large customer of the small company the attention you receive is much higher. You could get better reliability and service. Order splitting is also a possibility.
You will also want to think about stability. The vendors that you sign with have to have been in business for a long time without often having to change businesses. Another great sign is having executives that have been doing the work for a long time.
Last but not least, it is really important that you think about location. If merchandise is ordered from really distant suppliers, much time will be needed to get the products and you might end up having to pay way too much for transportation. Distant suppliers are not recommended when products are needed really fast and when transportation costs are not warranted. Supplier freight policies always have to be checked before ordering.
