Business strategy is the battle plan for a better future
Textile sourcing strategy is one thing than can make your business widely successful in the coming future. If you are thinking about surviving in the textile and apparel market, you must be smart enough to build a better strategy for better future.
Are you
thinking about building your own brand?
You need a
very strong plan that may save enough money for your future business strategy
and increase your profit margin. There are several options for sourcing now a
days. Traditional sourcing through trading partners and agencies will do some
good yet you also have some option to go online and look for product that
really suits for your brands. There are several online B2B platforms in the
world from where you can find out manufacturers easily for textile sourcing. But
before than you must need a better plan for sourcing your products, right?
Now I am
going to take you through a better sourcing strategy that includes step by
step, sourcing strategy for your business.
Why Do
you need a sourcing plan?
You might be
thinking that why do you need textile sourcing strategy or plan?
Yes, you
definitely need one because they are very helpful for you and you will be
needing a better plan for the business in the long run.
Sourcing
directly from manufactures will obviously give some credits because they are
core sourcing option and they are the one who will give the most reasonable
price. A middle man or sourcing agency will take their share and you also have
to provide them with benefit. Most of the agencies will benefit from two ways.
One they will get some money from you and they will also benefit from the
manufactures. As a result, while you are buying the textile product in bulk,
you will have to buy way more than the real cost you could get from a
manufacturer.
5 Tips
for Textile Sourcing
It is better
to clarify that someone might have other tips for your sourcing operations but
I am going to share the most common sourcing tips those are maintained by a lot
of brands and they are becoming really successful in their way.
Cost Effectiveness
Cost
effectiveness is one of the most important things you must follow while you are
making your strategy. Before you jump into any conclusion you must sit down and
think about how cost effective is your sourcing going to be. If you think this
sourcing is not going to be cost effective then you must not think about it
anyways. Depending on this future of your business depends. So, you better be
aware of this all the time.
Quality
There should
be no compromise of quality. Quality is the single most effective thing for
every material to make a better product and run in the market. If you are not
using better material for your brand product in textile and apparel products
you are not going to shine in your business. You cannot sale your product even
if you are going to sale for low price. So, when you are sourcing a bulk amount
of product then must think about the quality of the product that you are going
to buy. For apparel product never forget to check for the quality they are
providing. The most important concern is, manufactures may show something and
provide you something else.
Price
Make sure
you know the price of the product including shipment and other charges. When
you will be able to find out the gross price of the textile material you are
planning to source from the manufactures. Sometime there are some hidden points
in the quotation, look over them and show it to a person who have proper
knowledge about the issue. Price evaluation can save from saving money and
create better product with low price.
Ethical and sustainability
In the
present world you must think smart because, todays world is very tricky and you
get to source something that is free of any scams. For now, sustainability is
big ideology and you fail to do this soon after people and your future client
know that you are going lose customers because you are not careful about those
issue. Also make sure that the manufacturer is following proper ethical code of
conduct.
Communication and Shipment Time
Find out if
the manufacturer is able to communicate with you in proper way. Sometime, you
may fall in trouble and they don’t communicate better so this is a big problem.
So, communication should be very clear and they must support in a better way
all the time. Another factor is making sure they are going to support you in
your bad time. Shipment is also a very important thing that you should be very
clear about. Learn from them if they can provide you with a very short shipment
time.
Overall, if
you are a brand looking for manufactures and planning to source textile in
bulk, you must think about where and how will you source. Besides knowing other
aspect of the textile materials is also important for example, how is the
price, what is the quality, how is their policy of communication, and how fast
they can ship. On the other hand, you should also know the difference between
other manufactures or suppliers. And way you have to calculate your profit
margin. If you avoid these important points while sourcing, you are definitely
going to lose. So consider this tips are you way of success in apparel and
textile business and make sure you are highly concerned about these.
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