If you want your business to continue running smoothly, you need suppliers who can provide you with all the equipment you need, when you need it. Of course, there are likely many different suppliers for you to choose from, and the decision between them isn’t always straightforward.
What are the most important factors to consider in an equipment supplier for your business?
Products and Areas of Expertise
First and foremost, you need to make sure the equipment supplier creates what you need. If you’re looking for specialized rotating equipment, you need to find a supplier who sells it – and preferably, one who specializes in it. Obviously, if the supplier doesn’t sell it or doesn’t have access to it, you won’t be able to work with them for that specific product.
In some cases, it pays to work with a generalist. Some suppliers and distributors attempt to carry as many different types of equipment and parts as possible, serving the greatest number of customers and fulfilling a number of needs for those customers. Other suppliers are specialists, focusing on one particular area of product development.
The former is often more convenient, as you’ll be able to order more products, all in one place. However, you might face higher markups, limited support, and other issues as a result. The latter is often preferable for getting in touch with the specialized manufacturer who produces your equipment, but you’ll have a harder time scouting for all the suppliers you need to keep your business running smoothly.
Customization Potential
Depending on your industrial needs, you may need to find a supplier who can customize parts and equipment. In some contexts, it will be more than adequate to rely on products that are off the shelf. In other contexts, you may need parts or equipment that conform to unusual standards, or ones that deviate from industry norms. Make sure you investigate how much customization potential each supplier is able to offer if customization is a concern for you.
Commitment to Quality
One of your highest priorities should be the quality of the parts and equipment you receive. The higher the quality, the more reliable the parts will be, the longer they’ll last, and the more value they’ll provide to your organization. Accordingly, it pays to work with a supplier who has similarly high priorities for quality. Suppliers with excellent records and processes in quality assurance and quality control are preferable to their competitors, all other factors being equal.
Reliability and Stock Availability
A supplier isn’t going to be worth much to you unless they have eminent reliability and stock availability. In other words, they need to have what you want, when you want it. Some suppliers are plagued with supply chain issues or production line disruptions, and others have trouble keeping up with demand. It pays to keep searching for a supplier who’s consistently reliable.
Geography and Delivery
Even with the best shipping providers, default shipping times depend heavily on geographic locations. In many situations, it pays to work with a supplier that’s physically closer to your business. It’s usually possible to pay more for expedited shipping when you need parts urgently, but if you plan on using this option, it needs to be factored into your calculations.
Customer Service and Technical Support
You should also be mindful of available customer service and technical support. Does this equipment supplier offer excellent customer service when things go wrong? Can they help you troubleshoot issues and make repairs? Do they offer maintenance and other peripheral services to help you maximize the value of your equipment?
Pricing and Value
Of course, you also need to think about price and the value you get for that price. Are there other suppliers in the area that offer similar products for a lower price? If so, are you forced to make sacrifices in exchange for getting that price?
Ratings and Reviews
Looking to ratings and reviews can also help you evaluate equipment suppliers. What have other business owners like you said about working with this equipment supplier?
Warranties and Guarantees
Many manufacturers offer warranties to their customers, assuring them of the quality and reliability of the products they sell. Suppliers that offer robust warranties and guarantees should have an edge over their counterparts.
Ongoing Relationship Potential
If you want your business to thrive indefinitely, it’s important to create business partnerships and relationships that are sustainable. Accordingly, in your search for a better supplier, you need to factor in the potential for an ongoing relationship. Will this supplier be able to serve you consistently in the future?
Finding an equipment supplier isn’t always easy. But by studying these factors and reviewing your options carefully, you’ll be in a much better position to succeed.