VENDOR SELECTION
When embarking on a new business, product, or service, the selection of the best suppliers is
critical. Formation Strategies can help define and document your requirements, establish reasonable qualification standards of financial health and service capability, develop comprehensive requests for proposals or quotes, create objective rules for evaluation, conduct site visits, contact references, and negotiate supplier agreements. 
VENDOR RELATIONS
In many ways, vendor selection is the easy part. After the purchase, how do you create a positive
relation with the vendor so that, over time, you can trust them to deliver a consistent, high quality product or service that meets your standards? The key is to thoroughly understand their capabilities and make sure they align with clearly communicated expectations. In order to manage the relationship, systems for monitoring performance, formally communicating changes, and immediately dealing with problems need to be put into place. Formation Strategies can help establish vendor relations programs that achieve the results you expect.
INVENTORY
No one can afford to run out of inventory and few can afford to carry more than is absolutely
needed. Establishing appropriate reorder points and maintaining just-in-time inventories are essential characteristics of successful businesses. Formation Strategies can help with your inventory management needs by reviewing your turnover and order quantity experience, discussing you needs with key vendors, and setting standards for minimum inventory levels and reorder quantities.
QUALITY
In every successful organization, quality assurance and improvement programs are at the core of
every business process. Organizations must establish quality standards, training programs, monitoring systems, and feedback loops that achieve the desired results. Formation Strategies can review processes, write standard operating procedures, design quality dashboards, and, if appropriate, engage third party testing or verification services.
PARTNERING FOR GROWTH
Formation Strategies for all your supply chain management needs:
- Vendor qualification and selection
- Vendor relationship programs
- Quality assurance programs
- Inventory management solutions
- Standard operating procedures
- Supplier agreements
- Price and service level negotiation
FORMATION STRATEGIES
3101 Broadway, Suite 305
Kansas City, Missour 64111
816.753.5881
www.formationstrategies.com
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