In our mission to solve the problems of the textile supply chain in India, Locofast has become the leading B2B platform that connects thousands of textile suppliers with textile manufacturers across the country. Furthermore, our proprietary bidding system has simplified the process considerably and makes available to our clients a plethora of potential suppliers to choose from. While the Locofast advantage makes it easy to choose reliable, trustworthy vendors, this is not always the case.
Keeping this in mind, here is a quick guide you can refer to, to make an informed decision about your business.
1. Set your selection criteria
Even before you begin sourcing textiles for your products, you need to establish a basic standard of evaluation based on your business requirements, using which you will filter out and select prospective textile vendors. Ideally, these judging criteria should include your average delivery periods, maximum and minimum quantities per order, your budget range per standard order, and your preferred vendor certifications.
2. Verify the material quality of your vendors
The success of any good business depends on the quality of your products and services. As textile manufacturers, the quality of your product is contingent upon the quality of textiles you receive from your vendors. It is imperative, therefore, that before you place an order, you seek a sample of the deliverables. You should also ensure that the equipment of the vendors would be sufficient to meet your production requirements. Ideally, visit all potential vendors so that you can ensure this in person.
3. Ask around about the services of your potential vendors
If possible, ask around about the services of your potential vendors in your network. Ask questions about the vendors’ reliability, punctuality, quality of products and services, accessibility, and customer service. While this may not be completely accurate, you will get a better understanding of what your experience with the suppliers might be like.
4. Look into the vendor’s clientele
A good business thrives on forging long-lasting, reliable relationships and associations. A vendor with old and lasting client relationships is suggestive of giving a reliant and consistent performance across the years. On the contrary, a vendor with many short-term clients might suggest a lacking performance. Checking the vendor’s business history will give you a better understanding of their business model and ethics.
5. Trust your gut.
While these tricks might help you in shortlisting the bad vendors from the good ones, there is no right or wrong way to choose a vendor. There will always be exceptions to the rule. Ultimately, you have to trust your gut. Speak with the vendor, investigate their methods, and then take the plunge.
A good business operates on forging interpersonal relationships with your business associates, and each deal you make is an investment into your own future. While it may not always work out, an educated decision always has a better chance!