Suppliers are an integral part of any business, especially manufacturing. Supplier selection is the process of finding the right supplier for your business. It encompasses all the steps taken to find, select, and work with a supplier.
Supplier selection is an essential part of making your product successful. The key to selecting the best suppliers is understanding what you need from them.
Before choosing which suppliers to work with, there are many factors to consider. Here are some things you should think about when selecting suppliers:
* What are your end goals?
* Who will you be partnering with?
* How does this affect your supply chain?
* What do you need from the supplier?
* How can they help you achieve those needs?
* What kind of relationship do you want to build with the supplier?
* Are there any potential risks that could arise?
A well-designed supplier selection process will ensure the right products and services are delivered at the right price, on time, and according to specification.
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