Private Label Sourcing – Private Label Strategy (step 6 of 10) - a podcast by Michael Veazey

What’s the most critical prelude to sourcing?

Define what you’re looking for first!

China manufactures 80% of the world’s products. Its selection is just vast. Your job is to drill down.



The simplest starting point is: alibaba.com



Elimination is the name of the game



* Filter on Alibaba: ? Gold supplier ? Assessed Supplier

* Filter by responsiveness: Do suppliers answer your email? Answer your questions?

* Filter by Sample: No point negotiating unless the product is quality. Time to get a sample!

* Run the numbers: Go over your entire supply chain for your projected Profit & Loss. Know your numbers before you negotiate.

* Negotiate: Agree Price, Quantities, Design & Freight.

* Quality Control: Define exactly what you expect and all possible defects. Clarify that you will inspect.

* Place your order: Detail everything then exchange documents & arrange to send money.



 



Watch my full discussion of Private Label Sourcing - Private Label Strategy

Further episodes of Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.

Further podcasts by Michael Veazey

Website of Michael Veazey