Recently, Dragon Sourcing connected one of our clients with highly reputable suppliers of decorative glass and wooden pots. Our client insisted that we obtain only the names of Southeast Asian, Eastern European, and Turkish vendors. Once we received the request, we meticulously analyzed the client’s demand, which included the containers’ specifications and any other special requirements. After gaining clarity on the requirements, we conducted a supply-market analysis.
In our analysis of the supply market, we consulted a variety of sources, including B2B websites, resources within our organization, and newsletters, among other resources. After conducting an extensive investigation, we compiled a list of 235 suppliers. To reduce the size of the list and make it more manageable, we conducted a telephone interview with the prospective vendors to determine which ones best satisfied our criteria. In this interview, we posed a few straightforward queries, such as,
- Are you a manufacturer or trader?
- Do you have an export license?
- Do you have a quality certification like ISO 9001? etc.
After the telephone interview, we were able to reduce the number of suppliers to 96. Then, we created an RFI/RFQ and had it approved by the client, and mailed it to the selected vendors. 30 companies responded to our RFI and RFQ. After receiving all of the responses, we analyzed and compared their scores. The scoring criteria were earlier determined following consultation with the client.
Once the scorecard was created, we were able to forward our recommendation to the client so that they could make the final selection of the finest supplier for their particular requirements. For the Glass category, we suggested 12 suppliers, while for the Wooden category, we suggested 6. Finally, we provided the client with the necessary paperwork, graphs, and charts, allowing them to make a more informed decision.