The main motivational force to do sourcing of garments/fabrics is to give the highest level of satisfaction, at low production cost.
In today's time, businesses are juggling with the sourcing strategy to target their destination markets. Apparel sourcing world is changing every day and night with changing trade structures and tax regulations of the countries. And that’s why it’s important to know how to make your strategy work.
Sourcing is a subsection of procurement that deals with locating an organization's good and services in the right market. Apparel sourcing is crossing the borders to find the right destinations for their products across the globe.
No matter what business you are into and what's your business size. To understand what sourcing means to your business, you need to analyze the need for sourcing.
Identify the need for sourcing. Ask as many questions you can ask your team to your customers. Know and understand your current business scenario. Set your current situation as a benchmark and analyze the need for sourcing in your business.
Once you've identified why your business needs sourcing. Research the market, gather as much information you can about your market and the ones you are planning to enter.
Time to make a sure-fire plan to hit your sourcing goals. You need to know where to source your organization's goods and how?
Draft a sourcing strategy considering your company's goal and supplier's potential. Consider the market you are targeting for your product and services. Look around the ways to maximize your sourcing efforts and include everything in your strategy.
Analyze the internal and external factors while formulating the sourcing strategy.