Given the current economic landscape and the unknown future due to the pandemic that has changed the way most companies conduct business, many companies are sourcing new suppliers in efforts to increase their margins, lower their costs, and ensure they have access to readily available inventory. When considering a new fastener supplier one of the first things companies look at is competitive pricing, but there is more to the cost of doing business than the number on an invoice. Whether you’ve just started searching for a fastener supply company or you’ve narrowed your options down to a few, here are some of the critical factors you need to consider:
Consistency & Reputation
More than 87% of B2B buyers trust referrals when they start the purchasing process, making word of mouth one of the most powerful motivators in choosing a new supplier. A company with a solid reputation is also a promising indicator of something very important when selecting a supplier: consistency.
Quality and Assortment
Quality is paramount when choosing a fastener supply company. Beyond just adherence to industry specifications, quality can refer to whether the product is labeled correctly, packed well, and includes the right marketing materials. Although most business owners are aware of these quality indicators, few actually measure them. When you’re responsible for placing the order, negotiating terms, assessing the product when it arrives, and dealing with shortages or damages, it’s important to track this information and assess a supplier’s attention to quality.
In addition, a competent and competitive fastener supply company should offer you plenty of assortment, along with the latest and most advanced products and appealing purchasing terms. The right supplier should have experienced, well-trained employees and should be enthusiastic—but realistic—when working with you to boost both of your businesses.
Dependability and Delivery
Another key factor in choosing the right supply company is dependability. A supplier that promises and delivers the right number of quality products on time is priceless. Also, make sure the vendor has excellent customer service and will quickly troubleshoot any problems that might arise.
Consider where the supplier is located, too, because distance can equal lengthy delivery times and heavy freight charges. Look for local vendor options, which can cut shipping costs, your carbon footprint, and provide greater order flexibility.
Knowledge and Proficiency
When you’re aligned with the right fastener supply company, there are countless other benefits that will become apparent. Large vendors will almost always be able to meet your product demands, but a smaller supplier might be able to provide more personalized attention. Additionally, having close relationships with a few suppliers is better than shallow relationships with countless vendors, as those vendors get to know you and your business and can give you the customized service you need.
Whether large or small, the right supplier should have the knowledge and proficiency to learn about your business, how you sell, your values, work environment, and what’s important to you and your customers. The supplier you want to work with is the one that will offer suggestions, programs, product variety, and more, in order to invest in your business and see how your two organizations can grow—profitably—together.
Goebel Fasteners, Inc. Is Here To Help
We at Goebel Fasteners, Inc. pride ourselves in quality and efficiency with everything we do. We offer competitive pricing paired with a suite of value added incentives that make the decision easy for any prospective customer that is considering working with us. Make sure to reach out today to see how we can help you achieve your goals and reduce your costs with a better quality product giving you an industry competitive advantage!