10C’s In Supplier Vetting

Nov 26, 2021

Services

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Making the right choice when selecting a supplier for your business is a very important decision. The 10C’s can be used for assessing a potential supplier that you wish to use. Before you begin using the 10C’s you should look at your customers who’s needs and values are similar to yours, this will assist you in gathering your information based on each supplier.

Competency – The first thing to look for is of the current customers of this supplier are happy with the service they have received from this supplier so far. Do an assessment of this potential suppliers capabilities, and measure them against your customers needs. Also if you can find out why former customers changed from this supplier.

Capacity – Look at if the potential supplier has enough capacity to handle your company’s requirements. You need to workout how speedy they are responding to your needs as this will affect your customer relationships further down the line.

Commitment – You need to get a commitment from the supplier that they will provide a high quality, reliable and speedy service to you and your business.

Control – Find out how much control this potential supplier has over their policies and procedures as well as their own supply chain. You will also need to find out how well they deal with unforeseen circumstances.

Cash – The potential supplier need to be in good financial health to give you peace of mind as a supplier that is overextended in debt can be risky for you and your business.

Cost – Do a cost comparison on this potential suppliers pricing and other potential suppliers – on the cost of their goods or services that they provide.

Consistency – Does this potential supplier have a good track record with their other clients? If they are new to the industry how can they guarantee to you that they will consistently provide high quality goods or services to you.

Culture – Find out if the potential supplier’s business value align with yours as this could affect the way that your business relationship will play-out.

Clean –  Make sure that you are aware of how this potential supplier treats their employees and their customers.

Communication – It’s also important to find out how the supplier will handle communication especially in the event of a crisis and what means of communication they will use.


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