In the face of large and complex platforms, most retailers and wholesalers often cannot find reliable suppliers after many attempts. 5 tips to help you quickly identify high-quality suppliers when purchasing. In this article, you will get the following practical information：
What are the 5 factors that affect supplier selection？
What are the 4 principles for choosing suppliers？
How did FashionTIY emerge preferred supplier for more than 20,000 + wholesalers and retailers?
In today’s society, the competition between retailers is gradually transformed into the competition between supply chains. The quality and price of the products provided by the supplier determine the quality and price of the final consumer goods, which affects the market competitiveness, market share, and market survivability of the final product, as well as the core competitiveness of each component of the supply chain. Therefore, this article will help retailers and wholesalers how to choose suppliers.
5 factors affecting supplier selection
Suppliers are part of an open system of the supply chain, so the choice of suppliers will also be affected by various economic, political, and other factors.
Quality factor
Quality is the basis of the survival of the supply chain. The use-value of products is based on product quality. It determines the quality of the final consumer products and affects the market competitiveness and share of products. Therefore, quality is an important factor in choosing suppliers.
Wholesale price factor
The low wholesale price means that retailers can reduce the cost of their production and operation, which has an obvious effect on improving the competitiveness and increasing profits of shops and is an important factor in choosing suppliers. But the supplier with the lowest price is not necessarily the most suitable, it also needs to consider many factors such as product quality, delivery time, and transportation costs.
On-time delivery factors
Whether the product can be delivered on time at the agreed time and place directly affects the continuity of store operations and supply activities. It will also affect the level of inventory at all levels of the supply chain, which in turn affects how quickly stores respond to the market.
Product category diversity factors
In order to survive and develop in the fierce competition, the products sold by retailers must be diversified to meet the needs of consumers, to achieve the purpose of market share and profit. The diversification of products is based on a variety of suppliers, which determines the types of consumer products.
Other influencing factors
Including after-sales service, overall service level, and other factors.
4 principles for choosing suppliers
The basic criteria for selecting suppliers is the “Q.C.D.S” principle, which is the principle of equal emphasis on quality, cost, delivery, and service.
Quality
Among these four, the quality factor is the most important. We must confirm whether the supplier has established a stable and effective quality assurance system.
Cost and Price
The second is cost and price. It is necessary to use the value engineering method to analyze the cost of the products involved and achieve cost savings through win-win price negotiations.
Delivery
In terms of delivery, it is necessary to determine whether the supplier has sufficient production capacity, what transportation methods are available, and how to charge for transportation.
Service
Last but not least, the supplier ’s pre-sales hexoand after-sales services. A good service system is very important for your entire procurement process.
With the above 5 influencing factors and 4 principles, I believe it can help retailers and wholesalers to better choose high-quality suppliers.
How FashionTIY emerges the most trusted online wholesale market for retailers and wholesalers.
FashionTIY has become the preferred supplier of more than 20,000+ wholesalers and retailers. How does FashionTIY do it?
Strict triple quality inspection
Any product you purchase has passed the production quality inspection, primary quality inspection, packaging quality inspection three passes, and then delivered to the logistics center for transportation. Once an abnormal product is found, we will intercept it immediately.
Competitive price
FashionTIY has signed contracts with 1000+ of factories, and 100,000 + of styles all implement factory wholesale prices. Saving 40%+ cost for you on average compared with the other online wholesale markets. In addition, join FashionTIY now with the coupon code: wholesale15, you will get an extra $ 15 discount.
Provide multiple modes of transportation
Standard transportation can help you save on transportation costs, and priority transportation can save you time. Support multiple shipping ways such as DHL / UPS / FedEx / Air Cargo / Sea Cargo. You can track the real-time logistics information on the platform after the order was shipped.
100,000+ non-repeating products
There are currently 100,000+ products for you to choose. You can purchase apparel, jewelry, accessories, beauty, bags, wedding & party, home products, PPE, pet products, DIY and toys, etc on FashionTIY.
Timely customer service and customized services
Timely customer support. Provide prompt response to your questions about products by Live Chat/E-mail. Provide a long-term after-sales service period of up to 30 days, and all products damaged by non-human causes will be reissued free of charge. FashionTIY also provides exclusive service plans, to provide customers with product customization services and designated production and processing services.
When formulating purchasing strategies and selecting suppliers, retailers and wholesalers can refer to these 5 factors and 4 principles to quickly determine high-quality suppliers to making your business better.
For more information about wholesale, retail, and products, please feel free to visit www.fashiontiy.com