The document outlines strategies for identifying and selecting potential suppliers that align with business needs. It emphasizes the importance of research, recommendations, and evaluating factors such as price, reliability, and stability. Building strong supplier partnerships is also highlighted as a key to business success.

1. IDENTIFYING
POTENTIAL
SUPPLIERS

2. •The most effective suppliers are
those who offer products or services
that match - or exceed - the needs of
your business. So, when you are
looking for suppliers, it's best to be
sure of your business needs and
what you want to achieve by buying,
rather than simply paying for what
suppliers want to sell.

3. • Recommendations =ask friends
and business acquaintances.
•Directories=if you're looking for
a supplier in your local area, it's
worth trying directories such as
Yellow Pages.

4. •Trade associations=if your needs
are specific to a particular trade
or industry, there will probably
be a trade association that can
match you with suitable
suppliers.

5. •Business advisors= local
business-support organizations,
such as chambers of commerce,
can often point you in the
direction of potential suppliers.

6. •Exhibitions=offer a great
opportunity to talk with a
number of potential suppliers in
the same place at the same
time.

7. •Trade press=trade magazines
feature advertisements from
potential suppliers.

8. GETTING THE
RIGHT SUPPLIER
FOR YOUR
BUSINESS:

9. •Know your needs=make sure
you know what you need.
•Spend time on
research=choosing the right
suppliers is essential for your
business.

10. •Ask around=people or other
businesses with first-hand
experience of suppliers can give
you useful advice.

11. •Credit check potential suppliers=
It's always worth making sure
your supplier has sufficiently
strong cash flow to deliver what
you want, when you need it.

12. •Price isn't everything=other
factors are equally important
when choosing a supplier -
reliability and speed, for
example. If you buy cheaply but
persistently let down your
customers as a result, they'll
start to look elsewhere.

13. •Don't buy from too many
suppliers
-selecting the right suppliers is
essential for building a
successful business.

14. SOME FACTORS TO CONSIDER IN
SELECTING POTENTIAL
SUPPLIERS OF RAW MATERIALS
AND OTHER INPUTS:

15. •Price
•Reliability
•Stability
•Location
•Developing Partnerships