1. Conduct thorough market analysis to research and understand the demand and supply dynamics for product categories, market trends, consumer preferences, and the competitive landscape to identify potential opportunities and challenges
2. Develop a comprehensive sourcing strategy to establish partnerships with manufacturers or suppliers, considering factors like product quality, production capacity, geographic location, and cost-effectiveness
3. Gain in-depth knowledge of the product portfolio, including specifications, features, and variations, and understand the unique selling points of each product to align with client requirements
4. Conduct pricing analysis to determine competitive pricing for products, taking into account production costs, market demand, and competitor pricing to ensure profitability
5. Evaluate potential suppliers based on criteria such as product quality, reliability, delivery times, and financial stability, performing supplier audits when necessary to ensure compliance with quality and ethical standards
6. Engage in negotiations with suppliers to secure favorable terms, including pricing, payment conditions, and delivery schedules, while building and maintaining strong supplier relationships
7. Create comprehensive supplier profiles, detailing their strengths, capabilities, and areas of expertise to support the sales team in understanding each supplier's value proposition
8. Prepare detailed quotes for clients, including product specifications, pricing, and terms and conditions, ensuring accuracy and clarity to avoid misunderstandings
9. Develop price waterfalls that break down product costs, including manufacturing, shipping expenses, and other associated costs, to help the sales team understand pricing structures and potential profit margins
Ideas91 group started its operations in 2009 as a distributor, sourcing consultant, and online retailer in the home appliances and consumer electronics categories respectively. With the help of a motivated team and able leadership that recognized opportunities, the group quickly expanded its product portfolio. Apart from the corporate headquarters in Dubai, the Ideas91 Group has overseas offices in India and China.
In a short span of time, the consultancy division has added many new categories and continues to expand its scope. From helping companies to source kitchenware, and foil, to cables, ropes, chemicals, and even tires - the list is ongoing. The team specializes in sourcing products not only from China but also India, which is headed to be a major competitor to its neighbor.
