Security of supply?
Posted on 3rd August 2018 at 14:27
To follow on from our "Google Buying" blog, today's blog is about security of supply and the use of some processes to source production items.
By finding the item that you need on Amazon, Ebay, Ebuyer or a number of other websites you may not be able to ensure that you are able to order it again. Securing a reliable source for your raw materials is essential to your ongoing business. It is the critical element that will ensure that you are able to satisfy orders from your customers.
There are various ways in which you can address the security of your supply; the following are some examples to consider:
-Run a credit report such as Dunn&Bradstreet to review financial stability.
-Enter into legal agreements to include safety stock.
-Provide usage forecasts.
-Have a robust SCM process.
-Regular meetings with key suppliers.
Pro Outsourcing can help you improve your procurement processes and procedures, get in touch today.
why not check out further reading on a previous blog:
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