Marjelyn Ebio

beginner's guide to SUPPLIER SOURCING on alibaba What is Supplier Sourcing This is the process of selecting suppliers to provide the goods and services you need to run your business. Sourcing means finding the right suppliers that provide the quality you need at a price point that gives you the margin you need. Source: https://www.skuvault.com/blog/everything-you-need-to-know-about-sourcing/ Where to Source Products Alibaba AliExpress THOMASNET Global Sources Sourcing Agents Steps before Sourcing on Alibaba 01 Know everything about your product including logo and packaging 02 Familiarize common terms used when negotiating 03 List possible questions to ask to suppliers 04 Create an Alibaba account How to Start Finding Suppliers Conduct product search - Post a RFQ (request for quotation) if you want broad sampling of products from several suppliers - Browse through general marketplace for specific product. Pro tip: Make sure to tick off Trade Assurance and Verified Supplier List down potential suppliers Check each profile, take note of each supplier's details and compile into one file for easy access What to Include in the List Supplier Profile Company name, product link, company link, years of experience, nearest port Business Performance Delivery rate, response time, transaction number, transaction amount Assessment Responsiveness, English proficiency, requests accommodation Ways to Contact Alibaba Suppliers Get Latest Price Quick and easy option, but suppliers are less likely to pay personal attention to these requests Contact Supplier Similar to sending an email, but through the Alibaba site, and you’ll receive an email notification for every response the supplier sends you Chat Now Speaking directly with a representative, and all communication records are saved for future reference. I personally use and recommend this Template for Contacting Suppliers Having a template message makes contacting new suppliers easier and more efficient. To make things even easier, you can copy or paste the message every time. Hello X, My name is Marj. I am a purchasing manager for an Amazon seller and I am looking for a potential long-term supplier. We have a new product plan and I saw you have this on your website, which is the bamboo spice rack. I would like to inquire for some details as listed below: 1. What is the MOQ? 2. What is the cost if I order one sample? How much will it cost you to ship the sample to me? 3. What are your sample terms? 4. Can I get a quote for the product in both EXW and FOB X? 5. Can you do DDP? If so, what is the cost for DDP by sea? My shipping address is X. 6. Is it possible to put our logo on the product? 7. For the packaging, how much will it cost if we do corrugated box per item? 8. Can you give me a quote for barcode printing (FNSKU)? 9. Lastly, what is the production lead time for 500 units as well as 1000 units? Looking forward to receiving your early reply. Best Regards, Marj Bonus Tips Two best practices once you start getting replies from suppliers: Create a file for each Supplier's Responses Although communication records are saved on Alibaba's messenger, there's no harm in taking precautions, that is securing a file containing all your conversations with the supplier Suppliers Price Analysis Template Tabulate the prices, including the calculation of profit margin, of at least five (5) suppliers into a spreadsheet After choosing suppliers, you may start ordering samples Test Samples Use and evaluate the product and choose which among the suppliers is the best. If the sample failed the quality that you're looking for, you may inform the supplier professionally Discuss Payment Terms You may ask for trade assurance for your order Create Shipping Plan Ask for the packaging weight and dimension, number of units in one case, case dimension and weight