Dragon Sourcing embarked on a comprehensive project to source Decorative Luminaire for a client, covering a geographical scope that spanned Mainland China, Poland, Czech Republic, Hungary, Slovakia, and Romania. The project’s primary objective was to establish a robust supplier database, ensuring a diverse range of suppliers for Phase B, along with detailed RFI (Request for Information) and RFQ (Request for Quotation) templates, analysis reports, supplier profiles, rankings, and optional pre-audit reports.
Dragon Sourcing’s approach was meticulously structured into two phases. Phase A involved an in-depth Demand Analysis, collaborating with the client to define product specifications, volumes, and other requirements. This phase also included a Supply Market Analysis, leveraging various resources to identify potential suppliers, followed by a Telephone Pre-screening to select suitable suppliers for the RFI-RFQ process.
In Phase B, Dragon Sourcing developed and administered RFI-RFQ documents, incorporating a Balanced Scorecard to pre-qualify suppliers based on financials, client references, and manufacturing capabilities. This phase was crucial in evaluating suppliers, analyzing RFI-RFQ responses, and preparing a report to rank suppliers objectively.
The project spanned 10 working weeks, with weekly progress reports ensuring transparency. Dragon Sourcing identified 209 suppliers across the six countries, with 84 passing the phone screening. Of these, 25 responded to the RFI/RFQ, and 9 underwent factory audits conducted jointly by Dragon Sourcing and the client.
Key suppliers were identified based on their RFI scores, potential savings, industry experience, and export capabilities. Dragon Sourcing’s strategic approach in the Decorative Luminaire sourcing project exemplified their expertise in supplier evaluation and selection. By meticulously analyzing suppliers’ capabilities, financial stability, and industry experience.