Being one of the leading names in the procurement industry, Dragon Sourcing has helped countless businesses fulfil their sourcing needs from emerging and established markets around the world. The following is a case study where we worked with a major Australian garment retailer to identify new competitive suppliers in China manufacturing the required categories of products and services and capture the associated cost savings. The key deliverables for this project included:
- Supplier database
- RFI-RFQ responses from the suppliers
- RFx weekly follow-up report
- Supplier profiles and ranking
- Suppliers’ pre-audit reports (optional)
Dragon Sourcing started the project by defining and analysing the client’s demand to understand the product and the requirements. We discussed with the client thoroughly the pre-screening selection criteria for different products. Next, Dragon Sourcing conducted a thorough supply market analysis by leveraging several technologies like B2B websites, Fair catalogues, networks, magazines, and our own database of suppliers.
Following the initial market analysis, Dragon Sourcing further clarified the selection criteria with the help of a questionnaire for the client. Based on the responses, we conducted a telephonic pre-screening, which helped us eliminate the suppliers that wouldn’t be able to meet the minimum key criteria.
The next process was to develop and administer the RFI-RFQ with the help of an aligned balance scorecard that measured the capabilities and competitiveness of the suppliers. The RFI-RFQ is translated to the relevant languages and sent to the suppliers that passed pre-screening in the previous step.
After the suppliers responded with their RFI-RFQ, Dragon Sourcing worked closely with the client to develop another balanced scorecard. The supplier responses were compared with each other to draft supplier profiles and make recommendations. In addition, we included an objective supplier ranking based on capabilities along with a recommendation for the suppliers to be audited. The process ended with carrying out pre-audits of the recommended suppliers to identify ideal suppliers further.