As a family owned company MB Plastics BV is operating in high-end markets, based on trust. (Petro)chemical, Pharma, Semicon) My contribution to this topic could seem a little old-fashioned. We select our vendors on data; price/quality/service balance. But main criteria is person connection and potential to meet the high certifications in Europe, implemented to keep out Asian suppliers. Just meet and see if you share the same values. Trustbase is an important factor for long lasting relationship. We make it personal. In life counts: "You trust 10 people, 2 f... you up, but you have 8 to help you through challenging times. Of course data are important, but the man/woman behind the business guarantees the succes. Best Regards, Tonny Berendsen

Establish written signed agreements with the respective SLAs and require contractual guarantees Proceed for serious due dilligence process inclusive on the finance statements and visiting facilities Schedule periodic audits and implement a shared monitoring of acrtivities

Set expectations early, and monitor milestones to the plan. Have a risk plan, so that everyone knows how to manage the unexpected if it does occur.

When onboarding new vendors, I ensure they meet quality standards by conducting thorough due diligence, verifying certifications, business licenses, and compliance with regulations. I perform KYC checks to confirm their identity, ownership, and ensure no involvement in sanctions or AML risks. I review samples, audit their processes, and test with small trial orders. I also draft clear vendor agreements outlining quality and compliance expectations, and I monitor their performance regularly to address any risks or gaps.

Priya once imported a batch of luxury fabrics 🌟 only to find they fell apart after a wash. She realized she hadn't clearly communicated her quality expectations upfront ✍️. After that, she started vetting vendors meticulously and introduced quarterly reviews to stay ahead of problems. 💼