If you are sourcing
items to create or sell products, having reliable suppliers can be the life
blood for your business growth. However, it may be a challenge to find a vendor
who can provide specialty products when your business in a specific niche. For
example, it may be difficult to find dock
supplies if you are in
the boating business.
Reliable vendors are also important for people who need materials for personal
use. Quality should always be a priority when it comes to purchasing items.
Going back to the previous example, it may be wise to consider having a
top-notch supplier for decking materials if you plan to add them to your home.
Adding a dock to a coastal home, or placing a deck in your own yard can be a
great way to improve the appearance or increase the value of your home in case
you plan to sell it.
What are some ways to find a reliable vendor, especially if you need
highly-specific materials? Are there signs that a supplier is reliable or not? How
can you secure a good deal between a vendor? Below are some guidelines to
remember.
How to Find a Reliable Vendor for Specialty Materials
1. Consider the number of locations of your vendor.
One sign that you have found a reliable vendor is when you notice that they
have more than a single branch. Sure, there may be companies who are
long-standing and prefer not to expand, but having more than a single branch is
a good sign that the company is reliable and the demand is constant.
For example, Decks & Docks is a company that specializes in dock
accessories. They have several branches in Florida, North Carolina, South
Carolina, Georgia, and Virginia. It means that there is a demand in the
business along these coastal states. The number of locations also makes it
convenient for you to transact with your vendor.
2. Consider the balance between pricing and quality.
Another guide in finding a reliable vendor is seeking a reasonable balance
between the price and quality. Of course, it is always wise to have a
budget for your needs. Going back to the example above, you may start looking
for dock supplies by canvassing the prices of companies such as Decks & Docks.
Each company will have different price points, but you can have a personal
visit to inspect the quality of each item.
Do not haphazardly jump to the conclusion that pricey items mean quality, or
you’re getting a good bargain if you get it for cheap. It may actually cost you
more if you end up with cheap quality materials due to constant repairs or even
a full replacement.
3. Assess the company’s ability to provide product information.
There is always competition when it comes to material supplies. They will
compete based on price, variety, or availability of items. Although it can be
narrowed down with specialty materials, another clear sign of a reliable vendor
is their ability to provide complete product descriptions.
These descriptions can be placed on their website or can be explained verbally
during your visit or a phone call. Be sure to ask questions regarding the make
of each item you are considering, if it was sourced locally or internationally,
and if they accommodate specifications according to your needs. Prepare these
questions before you agree to a quotation or make a down payment.
4. Observe their customer service.
If you do plan to have a regular vendor, whether you own a business or for
personal use, it is best to consider their customer service quality. Are their
phone lines out of reach? Do they take weeks to respond to e-mails? Or are
their hotlines non-functional? These could be telltale signs that a company
does not care enough to help present clients and may only be concerned with
attracting new ones.
Relying on a company with poor customer service may also frustrate you in the
long run. Make sure to find a specialty vendor who serves their present and
future customers well.
5. Look into payment terms and lead times.
Lastly, find a reliable vendor who would agree to the payment terms you have
set. In return, these payment terms must be realistic. Otherwise, they must
also have alternate payment terms where you and the company can meet in the
middle.
Also look into the lead times for construction, delivery, or supply of the
materials you need. You can look into other customers’ feedback to find out if
they have proof to back up their claims. Having realistic lead times and
payment terms that are agreeable to you are important to lessen frustrations
during the process.
Reliable vendors can be the life-saver when it comes to
home improvement and business supplies. Make sure to remember these
considerations when it comes to picking your suppliers.