What to Look for While Buying Raw Materials for Your Business?

What to Look for While Buying Raw Materials for Your Business?

By admin | March 19, 2021

Raw materials, also called feedstock, are unprocessed materials or commodities that are used to produce end products or goods. Raw materials are like the backbone of the manufacturing industry and are in huge demand by almost all companies. If the raw materials are at a sub-par level, then the end products may not be at its full potential, leading to many quality and audit issues. This blog addresses a basic list of qualities that you should keep in mind while procuring raw materials from a vendor, as well as the different types of raw materials used.

Vendor Portfolio

Every manufacturing industry requires raw material for the production of their goods and many depend on online raw materials suppliers. Finding reputable vendors is a big task in the current economic scenario, so before purchasing your raw materials online make sure your raw materials are coming from a certified source. The goal of this step is to make a complete market research about the vendors, materials and check if they match your requirements.

Cost vs Quality

When buyers plan on procuring raw materials, they focus on the best prices in the market, focusing only on low costs to save a few bucks. In the bargain they end up with low-quality raw materials, causing damage to the manufacturing equipment as well as the business. Word really spreads fast if your company produces low-quality finished goods which will only displease your customers. This doesn’t mean that you give no heed to your expenses and pay copious amounts to procure good quality raw materials. Do your research about both the materials and the vendor so you make a fair deal on both quality and price end. Additionally, you can also opt for business loan for financing your raw material purchase.

Environmental Impact

The carbon footprint of the manufacturing industry has an irreversible impact on the environment and the earth. As responsible citizens, it is our duty to make sure that the materials are coming from an ecologically conscious source and has little to no impact on the ecosystems. This is the reason why you should look into your vendor’s certifications and permits as part of your quality assurance audit.

Types of Steel and Plastic Raw Materials

EFL Connections is one such vendor that is efficient in streamlining raw materials to its customers, at all levels of the supply chain, in a cost-effective way. At present the raw materials they are catering to are in the category of steel and plastic granules.

Types of Steel raw Material

  • Coated
  • Cold Rolled
  • Galvanized
  • Hot-Rolled
  • Stainless
  • Structural

Types of plastic raw materials

  • HDPE (High-density Poly Ethylene)
  • LDPE (Low-density Poly Ethylene)
  • LLDPE (Linear Low-density Poly Ethylene)
  • Poly Propylene (PP)
  • PVC Resin
  • Ethylene Vinyl Acetate (EVA)

The steel and plastic raw material prices in India vary depending on the vendor, quality, purity, and location of the supplier. Therefore, one should create a balance between the quality of the raw materials and the affordability before purchase. If you are still in two minds about the raw materials suppliers in India, head over to EFL Connections to get the best prices and deals, as well as MSME Loans.

Electronica Finance
Electronica Finance

We at Electronica Finance are on a mission to simplify the Finance for MSME businesses & to be a Globally Trusted Financial Partner for MSMEs, with a DNA of 'Customer First Approach'.

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