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Effective Product Research and Sourcing
With the advent of the internet, information is
literally at your fingertips. Product information and user feedback are readily
available. The problem is not so much the lack of information but rather
information overload. More and more, clients are confused as to which
website to trust and determine what information is relevant, current and
accurate.
What is needed is a strategy or a process that
can yield the desired results after the research. It is important to recognize
that there is no “one-size-fits-all” strategy. GetFeetWet offers two research
and sourcing strategies:
1)
GetFeetWet Product Sourcing
Strategy
2)
GetFeetWet Fast-Track
Sourcing Strategy
GetFeetWet Product Sourcing
Strategy
For projects with implementation dates of 2
weeks or more, clients can adopt the standard GetFeetWet Product Sourcing
Strategy that focuses on maximum options, cost effective solutions and hands-on
research and sourcing.
Step 1
General Research: Talk to associates, friends and professionals
about your vision or requirements and ask for some recommendations. You can also
visit trade forums but bear in mind that there are some members in forums that
have hidden agenda and their opinions maybe skewed by their agenda or business
relationships. Also, it is a known fact that product feedback are negatively
skewed since a satisfied client is not as motivated to post his positive
experience versus a poster who has an axe to grind after a bad experience.
Quality and not quantity of posts should be the focus.
Step 2
Product Research: Research the features and specifications of
product/s identified in Step 1 at the manufacturer
website where the latest and most detailed information about the product
can be found. Most dealer websites only provide a brief description of a product
in their catalog due to the large number of products the catalog. The larger the
catalog, the more resources are required to keep the product information
current. Even with the unlimited resources available, there will always be a lag
between new information from the manufacturer and information reflected on
dealer websites.
We also highly recommend calling the
manufacturer technical support if information on the manufacturer website is not
sufficient to answer all your questions about a product. If manufacturer
technical support is not easily accessible, Step 4 will be able to provide the
answers you need using GetFeetWet resources and experience.
Step 3
Pricing and Order
Fulfillment Research: Research
product pricing and availability using local as well as internet dealers. Get
referrals from associates and friends. Always remember that the lowest
price should not be the primary criterion when selecting a vendor. Consider
years-in-business, commercial footprint, type of operation, trade reputation,
staff technical expertise, order fulfillment track record and trade referrals as
additional criteria.
Finally, consider that most successful sourcing
relationships are based on mutual respect and support.
Clients should support the business of
the sourcing vendor who spends time and resources to provide the research and
information that the client seeks. It is in the best interest of the client that
the sourcing vendor is on a position to continue to provide the needed service.
It is fair to expect competitive pricing from a sourcing vendor but it is not
prudent or ethical to make a purchasing decision based purely on the lowest
price available without regard to resources expended by the sourcing vendor to
aid the client’s research.
Step 4
Research Validation: Validate your research with GetFeetWet
Navigation. We will evaluate your requirements and provide an impartial analysis
of the solution you came up with. Our opinion is not influenced by profit as
pricing is programmatically set across-the-board by a pricing algorithm that
based in manufacturer cost plus transaction fees (invoice cost). Neither is
GetFeetWet solutions influence by product availability as we have an exclusive
network of manufacturers and distributors that has a combined available
inventory second to none.
As a matter of policy, we always explain why one
solution is preferred versus another. It is imperative that the client fully
understands not only features discovered in Step 2 but also the limitations of
the solution as derived from experience dealing with the product.
GetFeetWet Fast-Track Sourcing
Strategy
Timing requirements may dictate that the
leisurely pace of our GetFeetWet Product Sourcing Strategy may not be the best
strategy for time sensitive projects. For these projects, the GetFeetWet
Fast-Track Sourcing Strategy is more appropriate given the circumstances.
For GetFeetWet Fast-Track Sourcing Strategy to
work the client has to rely more on GetFeetWet staff expertise and resources to
evaluate their requirements and for GetFeetWet to deliver the solution needed.
Fast-Track Sourcing Strategy is a popular strategy among clients with order
history with GetFeetWet. Not all projects can qualify for GetFeetWet Fast-Track
Sourcing.
Fast-Track Sourcing requirements.
1) Orders must be
completed within 3 business days from the time the case is opened.
2) Client has
verifiable address and contact information.
3) Client has no
history of abandoned GetFeetWet Fast-Track Sourcing case.
Features of the GetFeetWet Fast-Track Sourcing
Strategy :
1) Dedicated
Technical Representative: With
GetFeetWet Fast-Track Sourcing Strategy, a case number is assigned to project
and a dedicated technical representative is assigned the case.
2) Locked-in
Quotes plus Confirmed Allocated Inventory: Quotes will be provided with locked-in pricing
and confirmed inventory allocation.
3) One-Hour
Response Threshold: Client can send
emails referencing the case number which is monitored not only by the assigned
technical representative but also by GetFeetWet case managers that ensure that
the case emails are acted upon within a one hour threshold.
4) Hotlines: Fast-Track clients are also provided a pair of
hot lines:
Office Direct
Line – M-F
9AM-4PM
Mobile Phone – 7-Days 7AM to 7PM Pacific standard
time.
5) Managed Timely
Shipping: Packages will be delivered
to wherever needed in a timely manner. GetFeetWet will handle all shipping
arrangements as the project may require including Next-Day Service. Inquire
about
FREE
Shipping.
6) Expanded
Network Sourcing:
GetFeetWet has the
largest sourcing network of manufacturers and distributors. For GetFeetWet
Fast-Track Sourcing, GetFeetWet will also tap 2nd
and 3rd tier sourcing partners that will further expand product
sourcing options. Note: 2nd
and 3rd tier sourcing partners consists of an additional 20
distributors that have not made it as 1st tier distributor due to
higher product pricing or inconsistent inventory policies.
To Open a
GetFeetWet Fast-Track Case:
1)
eMail:
fasttrack@getfeetwet.com
2)
Call
Fast-Track Case Hotline: 805 531-9609
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