For many companies the creation of new products, and the maximisation of profit on existing products are key issues for the success and growth of the business. We undertake a wide range of activities involved with product range analysis and product sourcing.
Product Range Review and Development
We carry out a number of product range review and development activities for our clients, focussing on four key areas:
- Minimising product costs to maximise gross profit margins
- Rationalising product ranges to ensure all products contribute adequately towards gross profit
- Facilitating the generation of new products and product ranges
- Sourcing new products from trusted suppliers
The first step is to have an initial meeting with the client to develop a proposal for the business to consider. This proposal will be tailored to the specific needs of the business and will vary according to the type of products and the size of the existing range.
However, as a general indication of how the review will take place, once our proposal has been accepted, we then schedule a full day’s meeting with the relevant people within the business – typically owners/directors and senior management – to gather together all of the information that we need on the existing products and ranges and, if necessary, to facilitate the creation of new product ideas and turning them into viable products.
We then prepare a detailed report on our findings together with recommendations on action, and we return for another day firstly to present our report and secondly to carry out a new product idea generation exercise with the purpose of creating a list of new opportunities for the business to consider.
We would carry out the above process for a fixed an all-inclusive fee which varies according to the size of the business. In addition, at any point we would be happy to carry out any specific work identified during the review programme which the client wishes us to do, subject to individual quotation at the time. Such work could involve identification of new suppliers, arranging the out-sourcing of manufacture, origination of new products and so on.
Product Sourcing
With our extensive experience of sourcing products from suppliers around the World we can also, if required, carry out the whole of the process through from supplier identification through to delivery, as follows:
- Identification of, negotiation and liaison with manufacturers.
- Product tests, factory evaluations, codes of conduct.
- Management of all aspects of the supply chain including trouble-shooting, quality control, etc.
- Consolidation of the shipment of goods to worldwide destinations. This includes devising and executing the most cost-effective ways of shipping products, and also dealing with all of the administration issues.
