When securing new products, we
- Consider sourcing from domestic and international producers
- Assess product quality and price
- Identify and qualify suppliers based on business ethics, reliability and accountability
- Arrange samples for testing and provide the required documentation
- Conduct supplier visits, audits and due diligence
The Latco sourcing team
- Consists of local senior experts with broad working experience in global companies – we know what our international clients expect from us
- Has an established network to source from leading producers in markets such as Europe, China, Korea, Japan and Southeast Asia
- Serves different industry segments such as coatings, agrochemicals, food ingredients, personal care, pharmaceuticals, oil & gas, water treatment and rubber & plastics
- Audits all producers according to a strict protocol
- Provides full traceability and transparency of supply chain cost, value and risk
Our sourcing process consists of the following seven steps
- Understand clients need: determine actual and potential volume; understand the application; evaluate the timeline, quality requirements and logistics
- Confirm sourcing potential: assessment of the supply situation and deliver first price indication to evaluate business potential
- Analyze supply market: screening of short-listed suppliers; perform on-site check including Health, Occupational Safety, Environment and Quality; arrange sampling, understand business strategy of potential suppliers
- Develop sourcing strategy: determine supplier approach; define where to purchase, considering supply and demand, while minimizing risk and costs
- Select supplier: set objective and prepare RFQ; negotiate price, service level, payment terms, geographical coverage, logistics.
- Follow-up of order: implement new supply structure; monitor suppliers production status; track delivery through the entire logistic chain
- Manage supplier performance: ensure continuous improvement of supplier in terms of performance, risk management and relationship