Discuss the possible ways that purchasing becomes aware of the need to evaluate and select a supplier.
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When selecting the right supplier, manufacturers should remember to: Include all key internal stakeholders in the process to agree on important criteria that the supplier should meet. Require strong communication between the manufacturer and the supplier.
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It is important to evaluate a supplier before selecting him and purchasing from him. These are the few things that we should keep in mind before selecting the supplier:
- Distance - we should select a supplier that is not too far away from our business so that there could be quick and easy transportation of goods when needed.
- Credit System - A supplier must have a feasible credit system that the buyer can avail of while buying huge bulk of products.
- Trustworthy- Purchasing something needs some amount of trust from the buyer to the seller for him to supply with standard goods. A buyer must always choose a supplier that is trusted in the market.
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