Dragon Sourcing embarked on a project with a European construction company to identify new, competitive suppliers for aluminum extrusion profiles in China, India, Vietnam, and Turkey. The project’s objectives were clear: to work closely with the client to understand their specific needs regarding product specifications, volumes, target pricing, supplier qualifications, technology, and location preferences. Dragon Sourcing’s approach began with a comprehensive demand analysis to understand the client’s requirements. A supply-market analysis followed this. This process resulted in identifying a long list of 70 potential suppliers.
Subsequently, a telephone prescreening was conducted, selecting suppliers for the RFI/RFQ process based on criteria like service capability, company size, and willingness to participate. Developing an RFI/RFQ document and a balanced scorecard was crucial. This prescreening helped us identify 48 suppliers. To ensure the greatest amount of participation, we then mailed RFIs and RFQs to these 48 suppliers. A total of 19 suppliers responded to our RFI/RFQ. The responses were thoroughly analyzed, including estimating logistics costs, leading to a comprehensive report that profiled and ranked manufacturers by capability and competitiveness.
Utilizing Dragon Sourcing’s cutting-edge online platform, the Global Sourcing Platform (GSP), the team successfully managed the sourcing project. The GSP facilitated the centralization of supplier data management in the sourcing project from inception to conclusion and provided tools for supplier research, telephone prescreening, and RFI-RFQ processing. Finally, two suppliers were selected for sample development. This meticulous process ensured the client was provided with optimal supplier options for their aluminum extrusion profile needs, demonstrating Dragon Sourcing’s commitment to delivering tailored and effective sourcing solutions.