How TVCMALL Can Help You Quickly Find and Select Products

Product sourcing seems like a straightforward process since all you need to do is find, order, and receive the goods you need. However, these are the most basic steps and don't reveal the whole procedure and the strategies involved. To source products successfully and receive the best deals depends on who you decide to partner with.

 

Furthermore, this partner must offer you a comprehensive sourcing service to save time and put you in the driver's seat of the product procurement process. Read on to learn how TVCMALL can help you with all your product sourcing needs and deal with the challenges of a shifting e-commerce and regulatory landscape.

 

 

TVCMALL sourcing

 

We offer our customers an outstanding one stop sourcing solution. Our powerful platform lets you access the hottest brands at competitive prices. Since we're a Chinese company, you will enjoy factory direct pricing and lower logistics costs for products sourced throughout China.

 

Furthermore, our entire procurement process is fast, reliable, and transparent. Our team is always available to respond to all your inquiries. So, you can rest assured that you have a sourcing partner willing to go the extra mile to help you THRIVE! 

 

Supply chain sourcing

 

Supply chain sourcing is the process of identifying suppliers for the upstream supply of products and services suitable for your business. Ideally, these products and services must be of the highest quality and offered at the lowest cost. Oftentimes, it's necessary to negotiate with suppliers beforehand to secure the best deals and terms. 

 

One of your key goals is to ensure you're dealing with reputable and reliable suppliers. You must only partner with suppliers that will supply you regularly so that you don't suffer any disruptions to your supply chain. You can handle supply chain sourcing yourself or outsource this to a specialist.

 

How do you source products to sell on Amazon?

 

Selling products on Amazon can be incredibly lucrative if done right. But it's a complex process that requires you to follow the following steps to succeed as a seller on the platform:

 

●Decide what products to sell: Conduct thorough market research to identify products in niches with high demand and low competition. Use popular keyword research tools like Google Trends and Amazon Best Sellers to help you with your research.

 

●Find suppliers: Pick reputable suppliers to source your products based on your business model. If you opt for retail arbitrage, find brick-and-mortar retailers that regularly sell discounted goods and run clearance sales. If you opt for dropshipping you won't need to hold onto any inventory, so partner with a supplier that will let you list their products on Amazon and ship to customers on your behalf. If you opt for wholesaling, source your products directly from a wholesaler that offers generous deals on bulk orders.

 

●Consider alternative avenues: B2B marketplaces and online auctions are excellent for sourcing products from wholesalers and manufacturers. You may even luck out on better deals at auctions, but you can increase your chances if you master the art of bidding.

 

●Custom products: Consider partnering with suppliers that offer private labeling and print-on-demand (POD) services. These services allow you to sell products made to your specifications and brand. However, creating custom products requires significant personal involvement, including designing the products, picking the materials, and developing your brand identity. 

 

Purchasing and Supply Chain Management (SCM)

 

Purchasing involves the procurement of goods or services from suppliers you've already vetted. You've done your due diligence and researched the suppliers, their products and services, contractual agreements, payment terms, delivery times, shipping options, and disruption risks. 

 

Supply Chain Management (SCM) covers all the activities involved in producing products or services and delivering them to customers. SCM always aims to lower costs and risks while increasing efficiency and quality. 

 

Sourcing and Procurement

 

Sourcing is the process of identifying, evaluating, and choosing the suppliers that offer the most suitable products and services for your business. The sourcing process always happens during the procurement cycle to avoid any disruption to the supply chain. 

 

Procurement incorporates the entire process surrounding the acquisition of products and services. This includes identifying business needs, sourcing, supplier engagements, purchases, product inspections, invoicing, payments, and supplier management procedures. 

 

Sourcing strategies in Procurement

 

The following seven sourcing strategies will help with your procurement process:

 

1.Identify sourcing opportunities: Compile a list of products and services you regularly purchase and split them into categories. Analyze all expenditures, frequency of purchases, spending patterns, and transaction sizes. Then, identify the products and services you need to purchase in bulk or negotiate for better terms.

 

2.Identify suppliers: Research suppliers that provide the products and services you need.

 

3.Evaluate suppliers: Assess the quality of their offerings, prices, and ability to regularly supply you on time.

 

4.Evaluate supplier proposals: Communicate with suppliers and analyze all their feedback, reports, proposals, product quality, and pricing. Use a rating system or scorecard to add the most promising suppliers to your shortlist.

  

5.Select supplier: Pick the supplier that suits your needs. Engage in negotiations to secure the best possible deals and terms.

 

6.Finalize contractual agreement: Thoroughly inspect the contract and ensure you can comply with all clauses before signing on the dotted line. Seek the assistance of a legal expert, especially if there are clauses you don't understand or need to renegotiate the contract agreement.

  

7.Initiate contract and monitor supplier: Begin the procurement process and ensure the supplier meets your expectations. Monitor supplier performance and communicate regularly to ensure all procurement processes go smoothly. 

 

In Conclusion

 

The success of your product sourcing efforts will depend on the strategies you apply and the suppliers you plan to do business with. If you get these right, you'll enjoy a regular supply of high-quality products and services at low prices. Contact us today to learn about our excellent one-stop sourcing solution, which we conceived to meet your demands!