B2B has the potential to be one of the most lucrative sectors (especially when it comes to e-commerce), which makes it an attractive option for many entrepreneurs. But, finding the right wholesale supplier can be a difficult task that many people aren’t sure how to navigate.
Kompass strives to be a reputable and efficient resource to use for business owners who need to connect with B2B suppliers. In fact, our platform allows users to find a trustworthy supplier within their price range in just a few clicks.
Let’s take a look at all the information you need to consider to find a supplier that’s right for you.
Figure out what type of supplier suits you best
Before you’re able to move forward with your decision, you’ll need to determine what type of wholesale supplier is most appropriate for your business.
In general, you’ll choose from the following:
- Manufacturers: Best for companies that want to purchase their supply directly from its source
- Importers: Those who need foreign goods will have to go through importers
- Distributors: These suppliers purchase directly from manufacturers and then sell to smaller businesses
- Drop Shippers: Instead of sending you the product, they send it directly to your customers
While it may seem like it’s always better to buy straight from the manufacturer instead of a distributor, this isn’t always the case. Manufacturers only supply products in bulk amounts, which is not something that every business is able to afford.
Are they willing to negotiate?
Some suppliers strongly adhere to the terms that they have set in place. While it’s not realistic to expect exceedingly special treatment, it’s important to find a supplier who is willing to negotiate with you.
This could come in many forms, too, and isn’t only limited to the price you pay for the product. Contract length, for example, is something that a supplier should be willing to have a bit of flexibility on.
A willingness to negotiate will also likely serve as a testament to how pleasant the distributor will be to work with. This will lead to a more positive experience overall.
Research their reliability
Even if you feel like the distributor you’re considering may have made a great impression, it’s still imperative that you research them on your own to see what their past clients have to say. Look for attributes like responsiveness, a willingness to promptly correct errors, etc.
This will help ensure that you work with someone who can reliably guarantee that they provide a certain level of quality when it comes to their service.
Keep in mind that overly positive and overly negative reviews should come with a certain amount of skepticism. It’s not impossible for the B2B supplier to plant positive reviews in hopes of boosting their own reputation.
Similarly, a past disagreement with a former client may have resulted in that individual writing disparaging comments about the supplier in hopes of damaging their reputation.
In general, you’ll find that the more-grounded reviews are the most reliable.
One of the most difficult aspects of finding a reliable wholesale supplier is actually finding a supplier. Fortunately, online marketplaces exist to help connect companies with the suppliers they’re looking for.
If you don’t have enough time to build your Short List,, you can take advantage of Contact+ by Kompass, a free service to optimize supplier search and streamline purchasing processes. Contact+ connects buyers and trusted suppliers with Kompass detailed classification.
You’ll typically be able to communicate with a representative that can illustrate the benefits the supplier provides. You’ll also have a large selection of suppliers to choose from, and browsing between them is a seamless process.
When chatting with a representative, be sure to ask them key questions about their company’s services.
A few examples could include:
- “What is your onboarding process for new clients?”
- “How flexible are your current terms?”
- “Are you able to provide me with a quote for my desired service?”
This last question is particularly important, as you can use this information to shop around multiple distributors and find the one that’s best for your company
So, this means you should also…
Keep a handful of Suppliers in mind
In order to get the best rates and most conducive terms, you’ll need to have a handful of suppliers that you’re able to choose from. This will allow you to weed out suppliers that can’t accommodate your needs while leveraging the quotes you receive from others.
For instance, you could receive a quote from one supplier and use it to help negotiate with a supplier that has higher pricing but more reliability. The more suppliers you’re able to choose from, the more likely you are to find what you need.
This is a key attribute that can’t be overstated. Failing to meet shipping criteria could have negative consequences on your company.
Late shipments, for example, could throw off the timeline of hundreds of sales. This could easily result in inquiries about refunds and lead to overall customer dissatisfaction.
So, you’ll want to work with a supplier who’s able to provide accurate package tracking, automated shipping updates, and is able to accommodate any special requirements you may have for your goods. A company that works in the food industry may require that the shipped products be kept at a certain temperature in order to preserve them.
It can seem difficult to find a supplier that’s right for you
But, you can use the above information to help make the process seamless when you need to find a supplier. From here, you’ll be able to ensure that you make the decisions that are most appropriate for your company’s future success.
Want to learn more about what we can do? Feel free to get in touch with us today to see how we can help.