Diversifying Your Supply Base is Challenging. The Right Plan Can Help.
A supplier selection strategy that begins with a solid business case with well-defined requirements can help a company find partners that support and advance their business goals. Manufacturers are increasingly moving production away from Asian suppliers and into other regions of the world. Whether you are setting up shop in Mexico or another low cost country alternative, it is important to understand that finding the right suppliers is a complex process.
4 steps to new supplier selection and tips for creating a successful transition.
- Defining requirements
- Exploring suppliers and developing the shortlist
- Initiating the RFP process and selecting a supplier
- Building a project plan for the transition
Companies must invest time and effort in the supplier discovery phase as well as be clear to the team on the most critical business and product requirements before initiating an RFP.
Complete the form to download the article and ensure that you have a plan to handle the challenges that can and will arise, and resist the temptation to skip steps that will make the difference.