SOURCING PROCESS
Once you had chosen to outsource the raw materials for your production activities.These are the following steps for sourcing a raw material from a new supplier.
The first step is the Supplier scoring and assessment.
in this step, we have to rate the suppliers according to their service, quality, on time material delivery, price etc.,
The second step is the Supplier Selection. Among the rated suppliers we have to chose the best supplier who is suitable for us in all the factors.
The third step is the design collaboration.Both the manufacturer and supplier working together for the design of the new product.
The fourth step is the Procurement . After confirmation of supplier with the Lead Time, price, minimum order quantity and forecast of the material etc.,the manufacturer has to place the PO with the supplier to receive the material on time.
The fifth step is the sourcing analysis - It is nothing but the planning for new sources and identifying the opportunities for decreasing the costs.
The first step is the Supplier scoring and assessment.
in this step, we have to rate the suppliers according to their service, quality, on time material delivery, price etc.,
The second step is the Supplier Selection. Among the rated suppliers we have to chose the best supplier who is suitable for us in all the factors.
The third step is the design collaboration.Both the manufacturer and supplier working together for the design of the new product.
The fourth step is the Procurement . After confirmation of supplier with the Lead Time, price, minimum order quantity and forecast of the material etc.,the manufacturer has to place the PO with the supplier to receive the material on time.
The fifth step is the sourcing analysis - It is nothing but the planning for new sources and identifying the opportunities for decreasing the costs.
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