What is an essential characteristic of a good supplier?

An essential characteristic of a good supplier is strong financial stability because it indicates the supplier's ability to sustain operations, fulfill orders, and invest in improvements. Financially stable suppliers are less likely to face disruptions that could affect their delivery capabilities or their ability to meet quality standards. They can absorb fluctuations in market conditions and provide consistent support over time, which helps in building a reliable partnership.

In contrast, while low prices might be attractive, they do not guarantee quality or reliability. Proximity can be beneficial for logistics, but it is not a definitive indicator of a supplier's overall capability. Similarly, a broad range of products can be advantageous, but without financial stability, a supplier might not be able to deliver the products consistently or maintain quality. Therefore, strong financial stability is a critical component when assessing potential suppliers.