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How can I choose suppliers to purchase from based on product lead times and availability?
How can I choose suppliers to purchase from based on product lead times and availability?
Dimitris Athanasiadis avatar
Written by Dimitris Athanasiadis
Updated over a week ago

(The following article assumes you have associated some products with some suppliers - so that you know what you usually buy from whom.)

Megaventory allows you to know the exact price at which the supplier offers the product to you at any time as well as their own product code and description (if supplier details are different than how your business tracks them). 

It is crucial also to know about the stock level of each supplier and the lead (delivery) times of every product. 

In Megaventory there is a table such as the following which lets you know for each product the information you need and which is relevant to each supplier.  For instance, it allows you to follow how long it will take for an order to get to you.

That way, you can be sure of the precise date you expect to receive a product so you are able to organize fulfilling your orders precisely and on time. It is key you have time ranges that are pre-defined and not too wide.

Megaventory ensures that you can handle variable quantities and lead time ranges. As such, you can define and see the individual delivery times and the quantities for every supplier, as shown below, by clicking on [Click to expand] at Supplier Product Quantities and Lead Times.

You are able at any point prior to making your order of a certain product to have a look at every relevant vendor on your list. It is useful to check the period of time they deliver and the quantity ranges of their products. That way you can make the optimal purchase decision prioritizing either against price, delivery time, or other vendor preferences.

Furthermore, Megaventory permits you to organize your orders based on the lead times. After you have determined from which vendor a specific purchase order will be served, and consequently know the expected date and the quantity ranges of every product, it is time to fill in your purchase order. At this point, the supplier from whom you will receive the product and the quantity being ordered should be all you need.  

After you set up such a purchase order with one of your vendors you should be able to know when each item in the order arrives (bottom red box in the above image). You should also be aware of the earliest and latest delivery times of the order, taking into account all the individual products in the order and their respective lead times (top red box in the above image). Megaventory will automatically do the calculation for you but you can also override Expected Dates to enter your own values at any point something comes up.  

This process will happen more than a few times and from various vendors before you can consider the stock as having been replenished adequately. In fact, in most industries, this is an ongoing process. As such, it is helpful to gather all your orders on a single list. It can be a great advantage to know any time you want every detail of all the purchases you have made. Here’s how Megaventory users complete and organize all their orders. 

In the following list, you have an overview of what's coming in and when. 

Megaventory helps you to select the right vendor and choose the right process to integrate into your company. It assists you to organize all your products by supplier and collect all the information about the selected suppliers. You can see anytime the stock of your supplier, the purchase price they offer for every product, and the expected date you will receive your product. Thus, you can implement a workflow that helps you prioritize and select the supplier efficiently with the best price and lead time.

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