Hey! Thanks for clicking over. I am writing this post out of curiosity on what you look at when choosing a supplier to partner with.
After you read this if you would please leave a comment and let us know what you find most important/valuable.
When you think about the manufacturing industry, specifically CPGs similar to yours, choosing a supplier is vital to your success.
And when you have so many different companies like PPT reaching out to talk business, it can be difficult to pick and choose who to entertain.
So we wanted to give you some tips that we use when forming relationships with our suppliers.
Hope you enjoy!
Ok, so over the years the flexible packaging industry has grown exponentially. With retail chains like Walmart, Sam’s Club, and even Costco moving their private label into this format it only makes sense, right?
Did you know Smithers Pira estimates that it will reach $248 billion by next year?
How crazy is that?
Having this type of growth no doubt brings more competition
We think this is something that a lot of companies similar to yours run in to. So, I want to show you what we value from a supplier to buyer relationship, and hopefully help you in making your decisions moving forward.
Choosing a supplier might be, if not the most important decision when bringing or maintaining your product to market.
If you partner up with the wrong one, it creates more challenges than necessary. BUT if you get it right, it can create a business relationship with winning involved for all.
So, what can you do to ensure you choose the right supplier to partner up with?
There are 3 criteria that we have found to be really important when evaluating a potential partner: a company’s core values, technical expertise available, and the speed of which they can step in and help your supply chain strategy—this one is broken down to how well a quality product can be delivered on time.
P.S: We all know price has a heavy weight but let’s ignore that piece for a second.
One thing that we tend to forget in business is that we are working with other people. Think about it; wouldn’t you want to work with someone with similar goals, and your best interest at heart?
To work together in harmony, it is important to be on the same page and working toward similar goals.
Next time you are re-evaluating for potential partners, take a step back and dive into their values and understand what they are focused on.
Your potential supplier should be customer centric and dedicated to exceeding all of your needs.
Technical Expertise Available
Probably just as important as values being aligned, the technical expertise and customer service should be top notch.
One thing that is true in business especially in manufacturing, is that tangible challenges will happen. When they do, you should have access to people that are able to assist and solve those challenges in a timely manner.
Make sure that when you are considering onboarding a new supplier that you vet out their technical and customer service teams to make sure they can meet your expectations.
It will save you a lot of headache in the long run.
Speed of delivery and quality of product
Last but certainly not any less important, the logistical and product strategy should be aligned to yours, maximizing supply chain efficiency.
Your ideal supplier will have programs and services available to help keep your inventory levels where you want them, and keep your product delivered safe and sound to your customer’s home.
These are the 3 themes that we have focused on when vetting our personal suppliers and it has paid dividends in having strong relationships that ultimately improve our bottom line.
Check out these videos of some team members explaining what they think about core values, technical expertise, and speed of delivery & product quality.
If you are interested in a free packaging consultation, we would love to get you set up.
Just let me know in the chatbox at the bottom right corner of this page, or head over to the contact us page (link below) and fill out the form.
Thanks for reading!
Your Packaging Partner,
“Enrich People’s Lives and the Products they Use with Purposeful, Powerful, Packaging”