SUPPLIER SELECTION
In the business of manufacturing or customer service it becomes very necessary to look at basic raw material from which finished products are delivered. The suppliers role starts from that point. The selec tion of Supplier for the quality material is an important task to do with greater responsibility.
Each and every organisation wants a quality supplier to deliver their customer quality product among other competitors. Its their organisational objectives to adopt or select a quality supplier. Organisations basically look at the characteristics in supplier like their company history, Financial Condition, Cost, Quality of Material they are supplying, Service, Human Resource, Technical Capability.
Image- Supplier selection characteristics
In company history the organisation looks for how old it is how much client it is handling whether they are satisfied of the service provided by the supplier.
The organisations producing finished products looks at delivering quality goods to their customer to attract more customers and focus on increasing customer market share. Until and unless customer satisfies it is difficult to acquire market share. The cost is also the important parameter to select the supplier. The cost at which supplier selling the material it should be acc. to the company's set Standards.
On time delivery satisfies both the customer and customer's customer in Supply Chain, i.e. final customer. After sales service- whether it gives after sales service is important and also among all these is technical capability of it to deal with the organisation.
All these things are seen at the time of selection of Supplier.
I think for suppliers of strategic products, financial stability is very important for long term relationship. For general type of products which are highly available in the market, company history/background seems to be less important criteria.
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