Dragon Sourcing is a leading procurement firm that assists companies in sourcing raw materials and final products from new and established markets worldwide. The following case study shows how Dragon Sourcing found quality sourcing services for hosiery from emerging markets – China, India, Vietnam, Turkey, Mexico, and Korea. The main deliverables of this case study included the following:
- RFI/RFQ Report
- Supplier Profile and ranking
- Recommended Suppliers
The first phase of the case study was to conduct a thorough spending analysis. It was centered on the client’s requirement(s) to locate a list of prospective suppliers who could meet these requirements.
We discussed the pre-screening selection processes extensively with the client. After establishing the pre-screening standards, Dragon Sourcing studied the supply markets of all the probable suppliers. We used the DS databank, B2B websites, and other online sources to check the suppliers.
Based on the analysis of information from various sources, Dragon sourcing identified 30 suppliers that submitted both RFI and RFQ. The phone pre-screening was done on specific criteria provided by the client. These were as follows:
- Background
- Financials
- Client reference
- Product experience, Quality certification, Manufacturing/ technology, and capability
- R & D capability
Next, we worked closely with the client to develop the RFI-RFQ templates for the 6 types of products the client wanted to source.
Once the RFI/RFQ responses were received, Dragon Sourcing used a scorecard to rank the suppliers in consultation with the client. Based on the scorecard, we analyzed all the RFI-RFQ to prepare a report. In the report, we recommended the names of 11 suppliers.