SOURCING BASICS: What Is Sourcing And Why Is It Important?

transcript

SOURCING BASICS: What is sourcing and

why is it important?

VBC 2015

Marissa Djafroodi

marissa.djafroodi@verbasoftware.com

SPRING 2014

VERBASOFTWARE.COM (415)

SESSION GOALS

‣ What is online sourcing?

‣ Why is it significant?

‣ Overcoming obstacles: Streamline online sourcing with Verba

‣ Discuss best practices and recommended workflows

WHAT IS ONLINE SOURCING & WHY DOES IT MATTER?

PART I

WHERE ARE STORES BUYING BOOKS?

Buyback 10%

Marketplace 5%

Publisher 42%

Wholesale 42%

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VBC 2015

25%Marketplace sourcing

activity increase ($

purchased) 2014 compared

to 2013

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VBC 2015

75%Percent saved off new retail

for Spring 2015 buying

season

How many of you have sourced from an online marketplace before?

WHY DOES IT MATTER?

INCREASE COMPETITIVENESS

WHY DOES IT MATTER?

INCREASE TEXTBOOK AFFORDABILITY

WHY DOES IT MATTER?

MAINTAIN MARGIN

WALKTHROUGH

PART I I

FULL-SERVICE VS. SELF-SERVICE

INITIAL SET-UP FOR BOTH SOURCING TOOLS

SPRING 2014

STEP 1 : VENDOR SET UP

Apply for a line of credit within the sourcing interface

SPRING 2014

STEP 1 : VENDOR SET UP

Create a Half.com user account

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Shopping ISBNs Individually

THE CHALLENGE:

SPRING 2014

STEP 2: IMPORT A WANTLIST

Export a wantlist from your backoffice system

EXAMPLE WANTLIST FILE

Required Fields: ‣ Open to Buy ‣ ISBN

Optional Fields: ‣ Author ‣ Title ‣ New Retail ‣ Custom Wantlist

SPRING 2014

STEP 2: IMPORT A WANTLIST

Import your list into Verba Compete

NAVIGATE THE INTERFACE

Full-Service Sourcing: Self-Service Sourcing:

IMPORT PROCESS

Full-Service Sourcing:

Self-Service Sourcing:

IMPORT PROCESS

FULL-SERVICE SOURCING: “Bin & Hold”

Knowing What Is A “Good Deal”

THE CHALLENGE:

SPRING 2014

STEP 3: FILTER OFFER RESULTS

Full-Service Sourcing filter options

FULL-SERVICE SOURCING FILTERS

‣ Maximum Price

‣ Percentage of OTB

SPRING 2014

STEP 4: SELECT BOOKS TO PURCHASE

Full-Service Sourcing item selection

FULL-SERVICE SOURCING ITEM SELECTION

Long Manual Checkout Process

THE CHALLENGE:

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STEP 5: CHECKOUT!

Full-Service Sourcing checkout

FULL-SERVICE SOURCING CHECKOUT

Strain On Receiving Staff/Warehouse Space

THE CHALLENGE:

SPRING 2014

STEP 6: BUILD YOUR BACKOFFICE PO

Help with building purchase orders via the Purchase Orders page

BUILDING PURCHASE ORDERS

Managing & Tracking Orders

THE CHALLENGE:

SPRING 2014

STEP 7: TRACK, MANAGE & RECEIVE ORDERS

The Bin-And-Hold Management & Order Details pages

FULL-SERVICE SOURCING ORDER TRACKING

Dealing With Individual Sellers To Resolve Issues

THE CHALLENGE:

Invoice & Account Reconciliation

THE CHALLENGE:

SPRING 2014

STEP 8: INVOICING & ACCOUNTING

Billing page & invoice detail spreadsheet

FULL-SERVICE SOURCING ACCOUNTING

‣ Original Order Date ‣ Marketplace ‣ Backoffice PO # ‣ Verba ID # ‣ Shipment ID # ‣ ISBN ‣ Title ‣ Item Charge ‣ Item Shipping ‣ Consolidation Fee

THERE’S A TAB FOR THAT!

Item + Shipping Avg Cost

Fully Loaded Avg Cost

Item Only Avg CostCredits

Item + Consolidation Avg Cost

SELF-SERVICE SOURCING: “Hands On, Direct from Seller”

Knowing What Is A “Good Deal”

THE CHALLENGE:

SPRING 2014

STEP 3: FILTER OFFER RESULTS

Self-Service Sourcing filter options

SELF-SERVICE SOURCING FILTERS

‣ Minimum Quantity

‣ Minimum Seller Rating

‣ Max. Amount to Spend

‣ Max. Price

‣ Minimum Book Condition

SPRING 2014

STEP 4: SELECT BOOKS TO PURCHASE

Self-Service Sourcing item selection

SELF-SERVICE SOURCING ITEM SELECTION

Long Manual Checkout Process

THE CHALLENGE:

SPRING 2014

STEP 5: CHECKOUT!

Self-Service Sourcing checkout

SELF-SERVICE SOURCING CHECKOUT

SPRING 2014

STEP 6:

Help with building purchase orders via the Purchase Orders page

Knowing Which Packages Belong to Which PO

THE CHALLENGE:

SELF-SERVICE PURCHASE ORDERS

Managing & Tracking Orders

THE CHALLENGE:

SPRING 2014

STEP 7: TRACK, MANAGE & RECEIVE ORDERS

The Direct Ship Receiving page

SELF-SERVICE SOURCING ORDER TRACKING

Invoice & Account Reconciliation

THE CHALLENGE:

SPRING 2014

STEP 8: INVOICING & ACCOUNTING

The Accounting page

SELF-SERVICE SOURCING ACCOUNTING

SPRING 2014

TAKEAWAYS

‣ Verba online sourcing alleviates manual ordering process

‣ Know what data we need for wantlist and in what format

‣ Full-Service Sourcing for the long haul, Self-Service Sourcing

for faster arrival

‣ Order details page to track FSS orders

‣ Utilize accounting and billing pages

SPRING 2014

ADVANCED SESSION PLUG

‣ What logistical issues do you run into during the receiving

process?

‣ When are you wantlisting & sourcing?

‣ How do you determine what is a “good deal”?

‣ What is the ideal invoicing process for sourcing?

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QUESTIONS?

Marissa Djafroodi

marissa.djafroodi@verbasoftware.com

SOURCING BASICS: What Is Sourcing And Why Is It Important?

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