How To Shortlist The Right Supplier For Your Company?

When it comes to spares, you will need to find a supplier who will not only have the right dimensions and quality spares for your machinery but will also provide reliable support and service. For these reasons, there are certain steps that every experienced management follows in order to shortlist or appoint a vendor. If you are looking at new vendor relationships, here are some steps to assure you of a successful selection process.

Know the product specifications
Nowadays every machinery model requires specific engine parts and components. Usually every machine or equipment used in a commercial venture will come with specific parts that follow certain regulations or quality standards. While the original manufacturer might also provide supplies for the spares, you will have the option of checking for prices and availability with other vendors as well. However, many patented machines would need parts to be replaced by the manufacturer itself.

Finding the right suppliers
If your machinery has general parts that can be sourced from different suppliers, you can release a tender for getting quotes based on the product specifications you require. For small businesses it makes sense to simply look up regional directories and find lists of suppliers who have similar products in their catalogs. This will reduce the lead time it takes to sign up a new supplier for items like caterpillar truck engine parts.


Getting quotes and more
Before you proceed to seek quotes and compare the same, it is best to conduct reference checks on the suppliers. Seek feedback from their customers in order to understand the reliability of their service, especially when it comes to spare quality or repair and maintenance service. Before looking at quotes provided by shortlisted suppliers, management should check the authenticity of certification and registration of the vendor companies.

Look for long term relationships
It is best that a company signs up with a long term outlook with a vendor. For that reason, there could be a trial period set up with specific terms and conditions. As per the performance of the vendor during the trial period, many companies redefine the terms and make them more favorable for both parties. Usually a long term contract leads to savings and profitability for both parties. The vendor is assured of business for a retain period of time as per volume of supplies quoted while the company is assured a fixed price for the spares and service. In such ways one can select a spare parts vendor for their company machinery in a cost effective manner.

Writen by Sam Brooks