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

SOURCING BASICS: What is sourcing and

why is it important?

VBC 2015

Marissa Djafroodi

[email protected]

mailto:[email protected]

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

http://VERBASOFTWARE.COM


WHAT IS ONLINE SOURCING & WHY DOES IT MATTER?

PART I



WHERE ARE STORES BUYING BOOKS?

Buyback 10%

Marketplace 5%

Publisher 42%

Wholesale 42%


verbasoftware.com(415) 738-2374VERBASOFTWARE.COM (415)

VBC 2015

25%Marketplace sourcing

activity increase ($

purchased) 2014 compared

to 2013


verbasoftware.com(415) 738-2374VERBASOFTWARE.COM (415)

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


verbasoftware.comVERBASOFTWARE.COM (415)

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

Price


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



IMPORT PROCESS



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:


SPRING 2014


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?


VERBASOFTWARE.COM (415) verbasoftware.comVERBASOFTWARE.COM (415)

QUESTIONS?

Marissa Djafroodi

[email protected]



mailto:[email protected]

Software

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