Finding and Maintaining the Right Supplier Network
Your network of suppliers and service providers becomes a direct extension of your organization. Determining what characteristics are critical for your supplier selection, finding the best fit across a vast pool of options, and then negotiating the right agreements can be a daunting task. The risks in having the wrong suppliers or agreements are endless - from lost sales due to late deliveries or long lead times, to diminishing consumer trust following a quality failure, to higher than necessary costs pulling down your margins…all of which can hold you back from reaching your full growth potential. Vital Link is here to work with you and will solve any of your sourcing challenges!
New Product Launch
Getting your supplier selection right during your new product development process is key, whether it is a raw material supplier, contract manufacturer, or 3PL fulfillment provider. Vital Link understands that each product is unique, and will work closely with all functional stakeholders to truly define the priorities through a proven segmentation model. We will then help execute a broad RFQ and supplier assessment to ensure a fully informed and confident selection is made. From there, we’ll stay with you to make sure the right agreements are put in place and supplier management structure is defined.
Improved Vendor Performance
Having even a single supplier that is under-performing can become crippling to your organization. There are many potential reasons for why this might be happening, but no matter the cause, Vital Link is ready to find the solution. Common challenges include:
Poor service (late/incomplete deliveries)
High rate of quality defects
Inability to respond to change requests fast enough
Lack of supply chain transparency and poor communication
Whether the best solution is to improve the situation with your current supplier, or transition to a new one, Vital Link will be by your side the entire way making the decision a success!
Cost Savings
Is it time to re-evaluate your supplier agreements with a focus on driving a more favorable cost structure? Oftentimes, as your business grows and evolves, there are opportunities to improve your costs that are overlooked. Maybe your ordering volume has significantly changed and you should enter into a new pricing tier or open you up to other suppliers. Perhaps your overall business model has shifted and you can look differently at supply chain structure and the various agreements within it. The bottom line is, your business and supply chain are always changing – Vital Link is here to make sure your margins are growing with you!
Risk Management & Business Continuity
One of the key aspects of building your supplier network is Risk Management. The actions of your suppliers have a direct impact and reflection on your company. Therefore, the right care must be taken when choosing them, and in designing your overall network. Vital Link will help you identify and mitigate risks related to:
Supply chain transparency
Ethical and social responsibility
Regulatory and compliance
Single sourced critical materials
