Note: This case study is a continuation of our table lamps sourcing success story. Keep reading!
When it came time for our team to source vacuum bags for our second project, we were confident that we could find a supplier that met our target price of $3 including DDP.
However, as we contacted 3 to 4 different suppliers, we were met with shocking quotations that were more than double our target price – ranging from $6 to $8.
Faced with this unexpected obstacle, our team knew that it was time to put our negotiation skills to the test.
After a tough competition, we were able to close a deal with one of the suppliers at an impressive price $2.5 – a true victory for our team.
But our troubles didn't end there.
We needed the vacuum bags to be customized with our logo and a few additional precautions.
The supplier was initially hesitant to provide these services without charging extra, but through professional communication and the promise of a large order of 5000 units, we were able to convince the supplier to include these requirements in the final price of $2.5.
After verifying the vacuum bag specifications and features, we signed the deal and prepared for shipment from China to the USA.
This was a true test of our team’s ability to navigate through unexpected challenges and come out on top.
Thanks to our expert negotiation skills and determination, we were able to secure a great deal on high-quality vacuum bags that met all of our needs.
The final learning from this case study is that when faced with unexpected obstacles, such as receiving quotations that are more than double the target price, it is important to have a team with expert negotiation skills to navigate the situation and come out with a successful outcome.
It’s also important to have a clear communication with suppliers and make sure of the product’s specifications and features before signing any deal.