This episode provides a comprehensive guide to product sourcing for ecommerce businesses, from novice to veteran. Nathan Resnick, CEO of Sourcify, breaks down critical strategies for finding and manufacturing products, offering actionable advice on reducing costs without sacrificing quality. E-commerce operators will learn how to navigate the complexities of international sourcing and build a robust supply chain.
Key takeaways
Implement a 'three-pillar approach' balancing price, quality, and lead time to optimize sourcing costs without compromising product integrity.
Prioritize third-party inspections for all manufactured goods, especially from overseas suppliers, to proactively prevent quality issues and costly rework.
Carefully evaluate the pros and cons of private labeling versus custom manufacturing with molds to determine the best approach for product differentiation and brand building.
For new sellers, focus on understanding the fundamental steps of sourcing your first product, including supplier identification and initial quality checks.
Leverage sourcing platforms like Sourcify to streamline the process of finding reliable global manufacturers and managing production.
Sourcing is one of our go-to topics on the podcast. There are so many moving parts and different ways to approach it. I've been so fortunate to have sourcing experts come on the show and share insights on this. Today's episode is no different. I'm joined by Nathan Resnick, the CEO, and co-founder of Sourcify, an intuitive sourcing platform that helps companies find new products around the world. In our discussion, Nathan speaks mainly on how to go about sourcing when you're a novice. And, if you're a veteran at it, how to cut costs without sacrificing product quality. In this episode you'll learn: How Nathan got into sourcing (8:42) How to source your first product (9:11) Ratios: private labeling versus manufacturing your own - customized molds (16:49) The three-pillar approach for cutting costs on sourcing products (23:44) On the importance of third-party inspections (32:29) Our talk ends with Nathan emphasizing the importance of striking an effective balance when dealing with the three pillars of sourcing - price, quality, and lead time. We recently did a series of webinars with Helium 10, which we turned into a mini-course. Head over to ecomcrew.com/helium to watch the entire 3-part series. In Vancouver this week? Drop by the CRAFT Beer Market and have a drink with us. Sign up for the meetup here! Finally, if you enjoyed listening and think this episode has been useful to you, please take a moment to leave us a review on iTunes. If you have any questions or comments, feel free to leave them below. Happy selling!
What does this episode say about supply chain & operations?
Implement a 'three-pillar approach' balancing price, quality, and lead time to optimize sourcing costs without compromising product integrity.
What does this episode say about product & merchandising?
Prioritize third-party inspections for all manufactured goods, especially from overseas suppliers, to proactively prevent quality issues and costly rework.
What does this episode say about founder & leadership?
Carefully evaluate the pros and cons of private labeling versus custom manufacturing with molds to determine the best approach for product differentiation and brand building.
What does this episode say about supply chain & operations?
For new sellers, focus on understanding the fundamental steps of sourcing your first product, including supplier identification and initial quality checks.
What does this episode say about supply chain & operations?
Leverage sourcing platforms like Sourcify to streamline the process of finding reliable global manufacturers and managing production.
