This case study focuses on how our team at Dragon Sourcing helped one of our clients find high-quality fan induction motors from developing economies for both cost savings purpose and expansion in new markets. The significant steps we followed to find suitable suppliers are listed here.
Step:1
Demand Analysis
Our team first tried to clearly understand the requirements of our clients by having a free and frank discussion with them.
Step:2
Market Analysis
Once we understood the requirements of our client, we then did a market analysis by leveraging our sources to find 297 potential suppliers in China, India, Indonesia, Malaysia, South Korea, Thailand, Turkey, and Vietnam.
Step: 3
Pre-Screening
Once we identified 297 suppliers, we called each individually to ascertain their eligibility and desire to sell products. The pre-screening step helped us shortlist 78 suppliers.
Step: 4
RFI-RFQ
In this step, we created an RFI-RFQ after consulting with our client and mailed it to all 78 shortlisted suppliers. Only 14 suppliers replied to our RFI-RFQ, and we analyzed their replies based on pre-determined criteria.
Step: 5
Balanced Score Card
We created a balanced scorecard after consultation with our client. In this scorecard we ranked all 14 vendors based on the weights we gave them for factors like quality system, production capability, and company profile.
Recommendation
We recommended to our client that we send samples to the best-ranked vendors, ask them for an accurate quote, and audit all the selected suppliers to find the best amongst them after price negotiation.