What is the best way to configure inheritance in this scenario?

Question

So here is the scenario. Lets say that you have 10 different suppliers that provide products that you sell. Now for this scenario assume that each supplier has their own methods for order processing and each require their own class. This is a big assumption, but I am trying to simplify my real scenario without all of the details.

Solution with Single Table Inheritance (STI)

class Supplier < ActiveRecord::Base
  has_many :products
  # Methods that can be inherited by each supplier go here
end

class MySupplier1 < Supplier
  # Custom per-supplier methods go here
end

class MySupplier2 < Supplier
  # Custom per-supplier methods go here
end

What is strange about this solution is that you will have 10 rows in your suppliers table. For example, you will never have more than one instance of MySupplier1.

Here is another solution:

Alternative Modular Solution

class Supplier < ActiveRecord::Base
  has_many :products
end

class Suppliers::Base
  # Methods that can be inherited by each supplier go here
end

class Suppliers::MySupplier1 < Suppliers::Base
  # Custom per-supplier methods go here
end

class Suppliers::MySupplier2 < Suppliers::Base
  # Custom per-supplier methods go here
end

With this solution, I like that it feels more modular, but the relationship between the ActiveRecord Supplier and the Suppliers::MySupplier1 is really awkward. Basically, I have to store the supplier class in the suppliers table so I know what class to instantiate for processing.

Does anyone think there is a right or wrong or maybe even a better approach?