Take a look into how Dragon Sourcing employs an effective screening process to identify potential suppliers for a US-based client to procure bandages and dressing from overseas. Dragon Sourcing has successfully developed a pre-screening and RFI/RFQ database using its e-sourcing tool GSP to provide sustainable outcomes to its client. This report helps you gain an insight into the latest market practices and technological aids as they are employed in procurement. Read on to enrich yourself and leverage the power of emerging markets and advanced technologies.
The study focuses on the solutions Dragon Sourcing has developed to zero in on a supplier to procure bandages and dressing. The top challenge faced by the sourcing agency was to frame a comprehensive screening process to shortlist potential suppliers. To this end, the agency undertook a thorough demand and market analysis focusing on the geographical scope of India and Vietnam. The screening process was carried out in two steps. First, a pre-qualification stage to narrow down candidates. Then, administering an RFI/ RFQ process along with a balanced scorecard to filter out the most capable suppliers. Further, they have assessed them based on their company profile, location, and category-specific technical questions.
The project successfully identified 77 suppliers from India and Vietnam within 7 weeks. The shortlisting was done by analyzing their RFI/RFQ responses via Dragon Sourcing’s e-sourcing tool GSP. Every week, supply market analysis, spend and saving analysis, price analysis. and FOB price comparisons were shared with the client to take their inputs into account.
All the shortlisted suppliers were 77 FDA-approved and have ISO 13485 and other necessary certifications. Furthermore, a potential $200K savings scope was achieved.
Based on the stage 1 report, Dragon Sourcing helped the client identify potential suppliers offering a competitive price. Further, it augmented the sampling process and developed a plan to audit the recommended suppliers as the post-sampling step.