Choosing the right suppliers can have a huge impact on the bottom line for your company. The decisions you make about your vendors can impact your pricing structure, the raw ingredient inventory you hold, cash planning, the overall quality of your product, as well as your company's profitability! Choices around this topic touch so many parts of your business. So today, we want to help you with the guidelines for a new supplier evaluation.
These are the questions that, as a buyer, you should be asking yourself as you are evaluating new vendors for bulk ingredient supply. You may be sourcing oils or you may be sourcing something else; this analysis process should look pretty similar across the board. Let's dig in!Continue Reading