Conducting supplier evaluations is one of the most crucial things you can do for your business. It allows you to have insight into the project, estimate the risks and unnecessary expenses, and speed up the timeline.
Evaluating component manufacturers is comprehensive but doesn’t have to be difficult. Here are a few questions that you need to ask:
What is the Quality of Their Product?
One measure of identifying the quality of a component manufacturer’s product is the industry-standard ISO 9001 certification. Certification proves that they will be able to meet your organization’s goals by:
- Managing their resources and responsibilities
- Having a well-documented manufacturing and administrative process
- Measuring, analyzing, and improving the products that they have
Having an efficient internal system helps the supplier gauge whether they can take on your project or if your resources are better spent elsewhere.
Can the Supplier Handle Your Needs?
Ask the component manufacturers as many questions as you can about how the exact logistics of how they’ll be handling your projects. You can ask them:
- If they have experience with similar companies
- If they can provide a portfolio of their recent projects
- If they can provide details about their current products and processes
How Responsive Are They?
It’s crucial to review component manufacturers by performance metrics like
- Overall delays
- Average response time
- Corrective actions
This means that they’re able to think long-term, maintain business relationships, and respond promptly to technical and business issues. Assessing these parameters will help you evaluate the risks of working with a particular component manufacturer and effectively minimize them.
Do They Deliver on Time?
Another criteria for evaluating a component manufacturer is on their time of delivery. A supplier should work with your company to ensure
- There is a system to ensure that delivery is made on time
- That flexibility isn’t being overextended, and deliveries are usually consistent
- That your organization will be immediately notified if shipments are delayed for any reason
Is the Cost-Benefit Ratio Good?
When evaluating the component manufacturer against costs, make sure:
- That the supplier is transparent about their cost structures and pricing models
- That they demonstrate a willingness to work with you to reduce the costs
Are they Environmentally Conscious?
Environmental sustainability is crucial to a business for financial, ethical, and regulatory reasons. Ask the component manufacturer:
- What are their waste management strategies?
- What are their current waste reduction practices?
- How do they maximize energy efficiency?
- What is the procurement process for their materials?
- What is the protocol for handling harmful materials?
An efficient component manufacturing supplier will be fully equipped to take on your component manufacturing project: technologically, professionally, and financially.
They’re fully certified, respond within a timely manner, are transparent about their costs and procedures, have high-quality materials, and their goals are compatible with your company’s.
We hope this post provided you helpful information when it comes to the decision to build or buy. Krenz Precision Machining is a leading full service, turn-key machine shop offering design, prototyping, components manufacturing all the way through Assembly. To speak with one of our technical experts, please call 1-440-237-1800. And thank you for reading our post.