Warranties are often the differentiator in suppliers, however they are often left as a contract negotiation over time. This leaves critical information undisclosed and ultimately not fully understood until it is too late. Here are some questions to ask when vetting a suppliers warranty.
- When does the warranty start?
- How are commercial items covered?
- What is the percentage of warranty claims to the suppliers total revenue?
- How does their warranty process work?
- What is their warranty philosophy?
- What to expect in timing?
- What is the suppliers spare parts revenue percentage to total revenue?
These questions should be easily and readily answered by any supplier. The answers to these questions will tell you more about a supplier than almost anything else. We will share our experiences and details to better understand the importance of this along with how we differ from most.