Evaluating suppliers using verified insights
Ensure you’re making the right choice in supplier selection through our platform’s data-driven features.
Selecting a supplier is a crucial step for your business, fraught with uncertainty and risks. However, with verified data and insights, you can significantly de-risk this process. Here’s how you can use Sourcing Playground to evaluate potential suppliers meticulously:
Step 1: Shortlist Your Suppliers
- Utilize our AI tool or look at competitor suppliers to create an initial list. Please refer to our other guides for me details. Make a note of the supplier names you’re interested in.
Step 2: Navigate to Supplier Tab and Analyze
- Click on the “Supplier” tab and search using the supplier name.
- If multiple entries appear, use the checkboxes to select all corresponding records for a holistic view. Pro-tip: Add the ‘Address’ column to aid in this.
- Click “Analyse selected rows” for aggregated insights.
Step 3: What to Look For
Here’s what the aggregated insights will tell you:
- Clients and Volume: Primarily based on U.S. sea import data, this provides a snapshot of the supplier’s operations, although not the complete picture.
- Additional Information: Especially for fashion suppliers, look for parent companies, facility types, processing types, employee count, and contact details. Use the quick links to Google and LinkedIn for deeper research.
- Products: Shows the U.S. import volume by product type.
- Top Buyers: Data on the volume and percentage from each U.S. buyer.
- Segments: These are manually curated by our team and indicate the types of buyers the supplier generally deals with.
Step 4: Go Deeper
- The “Buyers” tab shows volume trends for each buyer. A stable or increasing trend is generally a positive indicator.
- Adjust graphical settings via the settings panel on the right to visualize the data in a way that suits you best.
- The “Product” tab reveals the top products and their respective buyers. Use this to gauge the supplier’s specializations and emerging trends in their product categories.
- Certifications: Check if the supplier has industry-specific or multi-industry certifications like ISO and SA8000. This can indicate whether they’ll align with your quality standards.
- The “Activity” tab offers comprehensive shipment details, allowing you to scrutinize aspects like product descriptions, shipment dates, and weights.
By following these steps, you’ll be well-equipped to make an informed decision about partnering with a particular supplier. Trust, but always verify with Sourcing Playground.
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.
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Once you’ve explored our use-cases, you’re one step closer to making more informed sourcing decisions. Click below to request a free trial or get in touch with our team!