Supply chain partners are supposed to be your allies whom you mutually elevate to greater heights of success. But if you choose the wrong partner, they can cause any number of problems that could really leave you wishing for a time machine. Philip Odette writes about five good things to look for in your next supply chain partner.
Five Signs of a Match
- Physical location
- ISO certifications
- Opinions on current trends
- Financial stability
- Customer retention levels
The location of a partner is pertinent because of the legal considerations that go with it. You do not want to get involved with a partner who gets caught up in illegal practices, even if the illegal practice is common to the region in which the partner works. ISO considerations meanwhile are a good sign that a potential partner really knows what it is doing, and ISO 9001 is particularly good for ensuring a “standard for assessing quality management systems.”
With the increasing automation of warehouse systems, you want to get a hold of partners’ opinions and see if their leadership is forward-thinking enough. And finally, financial stability and customer retention levels are obvious indications of a partner’s health, in that they show whether the business is making good bad decisions.
To learn more, you can read Odette’s full article here: http://www.business2community.com/product-management/5-things-look-next-supply-chain-partner-0979509