If you import things in from overseas, then you may have heard of the term “supplier auditing” before. For those who have not, it refers to auditing that you can get done to ensure that your potential supplier is both legally and financially equipped to operate. Auditors will look at a factory’s accounts, it will look at whether the factory is actually licensed to operate, it will look at whether the factory is actually owned by the advertised owner. It will then compile all this information into one booklet and give it to you before you make your decision. You may be questioning whether you actually need to get auditing done. In this article, we are going to go over a couple of the different reasons why you should get auditing done before picking a supplier.
It can help speed up your delivery time
No one wants to have their merchandise held in customs. Unfortunately, due to the state of the world today, customs services (especially in the US) are extremely strict. This can result in a lot of delays for your merchandise as it makes its way through customs. Well, auditing can help you bypass this. Some auditors out there offer what is known as “anti-terrorism audits.” These audits ensure that your supplier is compliant with anti-terror regulations. By getting this audit done, you can potentially be fast tracked through customs, which means that your merchandise will be delivered faster. Plus, you do not have to worry about any messy hang-ups at customs.
Give your business credibility and legitimacy
One of the biggest reasons why you want to get supplier auditing done is because it gives your business an air of legitimacy. Being able to put on your website that you got auditing done helps signal to customers that your business is serious about what you do. Plus, it might make customers feel more at ease about using your services. If you do not get auditing done, then customers may be wary of using your services. For example, a major part of auditing involves ensuring that your supplier treats their employees well and that they do not use child labor or stuff of that nature. Being able to tell your customers that you got auditing done to ensure that all your suppliers treat their employees humanely creates a level of trust between you and potential customers.
It prevents you from getting taken advantage of
Unfortunately, there are a lot of seedy suppliers out there who will do their best to mislead you and take advantage of you. Supplier auditing is by far the best way of protecting yourself from being taken advantage of by a supplier. Auditors will check to make sure that the supplier can actually handle your order and that everything is being done legally.