PRODUCT SUPPLIER SOURCING & NEGOTIATION
22/01/2024
Knowing the Who, What & Where in Supplier Sourcing
When sourcing for the best suppliers, I always implement a comprehensive sourcing strategy, identifying critical supplier details to reveal crucial information such as their identity, core product offerings, e-commerce expertise, certifications, product variety, commitment to quality, and operational or factory locations. The goal is to form long-term partnerships with the finest suppliers, ensuring the delivery of top-notch products and services.
Supplier Negotiations
After initial selection of possible suppliers based on a set of criteria, I communicate with 5-10 of them. I make sure to address key negotiation points like sample fees, Minimum Order Quantities (MOQs), payment terms, lead time and other vital aspects. Most important to this is their experience in handling Amazon orders along with all possible logistics costs. I understand the value of these negotiations in ensuring favorable agreements that align with our business objectives, promoting cost-effectiveness and mutually beneficial long-term partnerships.
