Top 5 Tips for Choosing a Product Sourcing Company Your Go-To Guide for Supplier Risk Mitigation | Page 2

Below we have pulled together some key points to help with this end of the
process.
Vetting a Supplier
Selecting the right supplier is critical​ . It will determine the success or failure of the
production.
When selecting a supplier, you should ultimately be sure that your interests are
shared, or at least aligned. Success for you needs to mean success for your
supplier. There is simply no point in today’s environment with short-termism and
lop-sided relationships in which the supplier is suffering on price, payment terms,
short delivery times etc. There will only be one ultimate loser, and that is
invariably the buyer. When first identifying the right supplier for your needs, make
you address the points below:
1. Understand their business