Dragon Sourcing, a well-known sourcing company, assists companies worldwide in sourcing raw materials and finished goods from developing and developed countries. The following case study shows how Dragon Sourcing found reputable suppliers for woven products from low-cost markets such as China, India, Bangladesh, Pakistan, Turkey, Vietnam, and Korea.
The main deliverables of this case study include the following:
- RFI-RFQ Template
- RFI-RFQ Analysis Report
- Supplier Profile and ranking
- Recommended Suppliers
In the initial stage of the case study, we have to conduct a detailed expenditure analysis. It was centered on the client’s needs to provide a list of possible suppliers to meet those demands.
We had a prolonged discussion concerning the pre-screening selection processes. Following establishing the pre-screening metrics, Dragon Sourcing researched all potential suppliers in emerging economies. We looked through our DS databank, Fair catalog, Chamber of Commerce, and other resources to find suitable vendors.
Dragon Sourcing identified 34 vendors who responded to an RFI and an RFQ. For the phone pre-screening, the criteria given by the customer were utilized. These criteria were as follows:
- Capability to make the product
- Minimum company size
- Quality certification
- Interest in participation
After that, we worked with the client to develop RFI-RFQ templates for the 8 product categories they planned to procure. Following receiving the RFI/RFQ responses, Dragon Sourcing developed a scorecard to grade the vendors in cooperation with the customer. We created a report relying on the scorecard to evaluate all RFI-RFQ. Based on the scorecard evaluation, we recommended the names of 7 vendors in the report.