The Ultimate Toolbox for Strategic Sourcing
$5B+ Sportswear brand accurately benchmark prices from existing suppliers & predict new products cost based on competitors
A leading sportswear brand wanted to gain accurate intelligence into a specific market pricing for new as well as existing products and needed up to date pricing information to inform their planning during the product development phase.
The brand turned to Sourcing Playground to help them “spy” on their competitors’ pricing they were getting from factories. Sourcing Playground was able to give the sportswear brand accurate pricing for specific models which gave them a more realistic costing estimate for the new product based on existing products made by competitors.
The brand’s sourcing team knew they were paying the right price when comparing with similar competitors products. It also meant designers had realistic costing estimates for new products which created confidence in new ranges and planning. This lead to an increased trust in the sourcing process and allowed for quicker, more accurate budgeting for future product development.
Sportswear Brand Competitor Pricing Analysis
Sourcing teams were able to check pricing from existing suppliers against what their competitors were paying for similar products to ensure the brand was getting competitive prices.
Realistic Costing for New Products
The brand’s designers were able to get more realistic costing estimates for new product based on similar existing products made by their competitors.
Confidence in Market Prices
Sourcing teams had accurate market pricing so they could make confident decisions about where to source using real world intelligence.
Fast Growing Ecommerce ScaleUp (Raised >$250M) Enters New Markets at Lightning Speed To Achieve Their Growth Goals
A scaleup ecommerce company was looking to enter a new market for a specific product category to ensure they stay on track for their aggressive growth plans. Entering a new market at the speed required to launch products was difficult with limited supplier contacts and market information.
Sourcing Playground offered comprehensive supplier sourcing insights, allowing the company to find suitable suppliers that were right for their business. Whilst also suggesting alternative countries based on competitor activity and shifts in the market this broadened their options and opened up sourcing avenues not explored before.
The company found quality, reliable suppliers in a new market they had never explored with confidence of the factories manufacturing capabilities, with zero contacts in the region. Allowing their HQ to source the best factories that met the companies requirements.
The company has been able to explore another market as a back up and alternative for other products based on competitors sourcing trends. This allowed the sourcing team to stay ahead of trends in the market always staying forward thinking.
Ecommerce Company Enters New Market with Top Suppliers
Reliable Suppliers Matching Requirements
Sourcing teams gained contacts with reliable factories in new markets, that had long standing experience with their target products and competitors. Sourcing teams were confident about the new supplier’s capabilities using Sourcing Playground’s unique intelligence.
Sourcing teams executed confident decisions without having a presence in a specific market, without agents and trading companies reducing any costs for third party sourcing companies.
Confidence in Market Prices
Sourcing teams were able to spot new competitive markets that could also be suitable to source from using Sourcing Playground’s competitor sourcing & market intelligence.
Stable supply base for $2B+ major fashion brand with long term strategic factories sourced in a fraction of time
A major fashion brand needed to source new suppliers in Asia that met their strict requirements within a tight timeframe. The factories not only needed to fit their requirements commercially but also sustainably with the viewpoint of being a long term supplier. With concerns around sustainability for certain Asian countries it was even more important to ensure new factories sustainability credentials.
Sourcing Playground used competitor, key markets sourcing trends and buying activity allowing the brand to quickly shortlist top suppliers in just a few days, thanks to the platform’s efficient sourcing process. The sustainability insights gave the sourcing team confidence that the factories could meet the brands sustainability initiatives.
The fashion brand successfully sourced new suppliers in Asia that met their stringent requirements. The entire shortlisting process, which would typically take months, was expedited to just a few days. The factory met the fashion brands strict commercial, sustainability and strategic goals to ensure a stable supply base. It allowed the brand to execute high level strategic decisions with pace within a new Asian market whilst ensuring high standards and not compromising their brand values.
Accelerating Strict Supplier Sourcing for $2B Major Fashion Brand
Commercial, Sustainable, Strategic factories
The sourcing team gained access to a broader pool of suppliers in Asia, increasing their options for sourcing and fostering potential long-term partnerships.
New Suppliers Validation & Assurances
Sourcing teams were confident that the new supplier was able to meet requirements due to history export data of the factories.
Speed from Sourcing to Onboarding
Sourcing teams have better idea whether a factory will pass internal checks using Sourcing Playground’s intelligence to see the factories’ capabilities, certification and compliance.
$10B+ UK Retailer Reduces Lead times with Nearshoring
A major UK retailer required insights on competitors’ supply chains to make informed strategic sourcing decisions and determine whether to enter new markets and utilise near-shoring as a strategic initiative that could reduce lead times and increase supply chain flexibility.
Sourcing Playground provided the UK retailer with regular insights (quarterly basis) tracking competitors’ supply chains, empowering them to make data-driven decisions about entering or avoiding new markets. Competitor insights was monitored to see whether new countries / factories were being used. It demonstrated that competitors were also using nearshoring strategically and these insights from Sourcing Playground’s regular reports served as a valuable resource for their strategic sourcing endeavours.
By leveraging Sourcing Playground’s insights on competitors’ supply chains, the UK retailer was able to justify high-level sourcing decisions. They could assess market opportunities, evaluate potential risks, and align their sourcing strategy with market dynamics, resulting in more informed and profitable business decisions.Using these reports the retailer decided to enter the new market, to start to utilise nearshoring, concluding it was a good fit for their business, as they had confidence that competitors and similar brands were doing similar strategies. Sourcing from nearshore markets has allowed the brand to reduce lead times and flexibility within supply chains.
Staying Ahead of the Game: Empowering a UK Retailer's Strategic Sourcing Initiatives
Competitors Quarterly Reports & Tracking
Sourcing teams were able to see their competitors strategic sourcing in action to give confidence to follow similar initiatives and enter a new market to benefit from the speed and flexibility that nearshoring offers.
Sourcing teams were able to identify potential risks and challenges in new markets, also avoid inexperienced suppliers helping them avoid costly mistakes and minimize disruptions.
Profitable Decision Making
Strategic sourcing teams were able to act fast from having up to date intelligence of where the market was moving. Allowing them to be ahead of the curve ensuring they had production space with top suppliers before others.
Why Sourcing Playground?
AI Driven Sourcing Database
Supplier & market intelligence powered with AI, to scan the globe for the hidden gems, the factories most suited to your business.
Facts allow sourcing experts to execute decisions with confidence and speed, reducing risk and costs of any new endeavours. Sourcing Playground uses verified data & intelligence.
Sustainability Matters to You
Brands are wanting to take responsibility of their sourcing and our certification and sustainability intelligence ensures their brand values & compliance is met.
Sourcing Playground aims to simplify your sourcing journey, offering a variety of tools to find, vet, and connect with suppliers. Want to explore more functionalities? Check out our other use cases for additional insights.