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What is the Factory Sourcing ?

Introduction
"Factory Sourcing" definition also known as procurement is the practice of locating & electing business or individuals based on set criteria. Factory sourcing is carry out in business in many different areas and for different reasons. One of the most common uses of sourcing is in supply chain management.

What is the General Process of Sourcing a Factory & Manufacturing ?
If you are developing a product with hardware & how you manufacturer the thing is going to be a key consideration early. Consumer package goods & durable products are considered more capital intensive than your typical web startup and need to determined how you are going to make it, when you can ship it, & how much it will cost.

Fundamental of Factory Sourcing:
  • A product design & development which depending on your needs, you may begin conversing with production sources at this stage.
  • Factory sourcing.
  • Review of product design package & documentation with sourced factories.
  • Initial quotations submitted and reviewed.
  • Factory selected based on assessment of quotation and ability of the factory to reliably serve the project.
  • The capability of the supplier to produce the product is developed. This may invole building molds or tooling, material sampling, sample production, packaging production, testing etc.
  • Final costing and contract negotiation.
  • Production and assembly.
  • Quality inspection.

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