When it comes to the product sourcing process, businesses must consider a few points to ensure their business is choosing the most profitable suppliers.
Consider these 4 helpful tips:
Product sourcing is continuous and must be seamless-
Even when the product is in high demand and sold quickly, during this time product sourcing is crucial to restock these items.
To customers, product supply should be endless in order to meet the demand. Businesses must not wait for a decrease in sales percentage before initiating the sourcing process again.
Conduct market research
Thorough market research must take into account the customer demand, the target audience, and the durability of the product. The shelf life of the products and what customers are likely to buy must be kept in mind.
Utilize a proven model
Use well-known and familiar methods for product sourcing. Look into existing sourcing methods which are employed for specific product sourcing and consider adopting already tried and tested strategies.
Read more:-https://globalbasesourcing.blogspot.com/2023/02/things-to-consider-for-efficient.html
https://globalbasesourcing.blogspot.com/2023/02/things-to-consider-for-efficient.html
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