Sourcing of Local Suppliers
Requirement Analysis
- Identifying the specific products or services needed.
- Defining criteria such as quality standards, budget, and delivery timelines.
Market Research
- Conducting research to locate potential suppliers in the local area.
- Utilizing directories, trade shows, and local business networks.
Supplier Evaluation
- Assessing suppliers based on key factors like:
- Quality of goods/services.
- Capacity to meet demand.
- Compliance with certifications or regulations.
- Reputation and references from other clients.
Negotiation and Contracting
- Discussing terms such as pricing, payment schedules, and delivery conditions.
- Drafting agreements that outline responsibilities, timelines, and expectations.
Relationship Building
- Establishing a strong, long-term relationship with chosen suppliers through communication and collaboration.
Ongoing Monitoring
- Continuously evaluating supplier performance to ensure quality and reliability.