Dear Sir,
For sourcing of material following input is must :-
1) Proper specification of Items, drg standard, Technical Specifiation,Catlogue etc,
2) Place where Item is required.
3) Lead Time, Price,Third party inspection,Transportation etc.
4) New Supplier/ Buyer Selection criteria- identifcation & Selection by monitoring Infrastructure ,Financlial status, Personal visit if possible, Evaluation, Consecative trial orders, Approval of supplier/ Buyer.
5) Once get control over supplier ,Placement of Order along with cost, qulity, qty , delivery schedule & financial terms, Inspection status ,Receipt of order acceptance.
6) Supplier / Buyers Feed back & survey related to ordered product.
7) Follow-up & Tracking of consignment with Transporter
8) Verification of Receipt Material
9) Ok material make available for producton
10) If any non confirmity found in product , proper information to supplier
These are the main criterial for selection of Supplier / Buyers.
Regards