Sourcing
At D2M, we understand the crucial role of sourcing in product development. Our comprehensive service is designed to meticulously select the right materials, components, and manufacturing partners, ensuring your product is developed with quality and precision, aligning perfectly with your vision and market needs.
Our Process
Comprehensive Problem Analysis:
Firstly, D2M delves deep into understanding the specific requirements of your product. Whether it’s sourcing a particular material, component, or identifying a suitable manufacturer, we start by defining your exact needs. This initial assessment helps in narrowing down the search criteria and targeting the right supply chain elements. It also aids in anticipating potential project risks and addresses them early on, ensuring that further investment in product development is well-founded and risk-minimised.
Intensive Research and Engagement:
Given the diverse needs of each project, our search can range from specific materials and components to complete manufacturers in both the EU and the Far East. Using our extensive network and industry contacts, we actively engage with potential suppliers and manufacturers, always under strict confidentiality agreements. By sourcing early in the product development process, we aim to eliminate uncertainties regarding the availability and feasibility of vital components or materials, thus ensuring that all potential challenges are addressed proactively.
For example we recently worked on a unique coffee machine and the internal pumps were critical to achieving the specific feature that our clients wanted to use to market the product. As such, early in the project, we confirm that the required specification was achievable in an existing “off-the-shelf” pump at a reasonable price before continuing the development.
Evaluation and Presentation:
Post-research, D2M organises face-to-face or online meetings, offering a detailed presentation of the sourced materials, components, or manufacturers. While we strive to find the best match for your product’s needs, it’s essential to note that achieving the ideal solution at a commercially viable price point can be challenging. As such the next step might be a full commercial viability assessment.
Should there be any requirements for posting materials or prototypes to suppliers, D2M can manage it, ensuring a seamless process for our clients.
Risk Mitigation and Cost Savings
For SMEs, and particularly start-ups, the financial and time investments in product development can be considerable and significant. D2M’s comprehensive sourcing service actively seeks to minimise potential risks early in the process. By ensuring that essential materials and components are available and viable for the project, SMEs can avoid costly redesigns or project alterations later on. This proactive approach not only safeguards the initial investment but can also lead to substantial cost savings in the long run.
Access to a Vast Network and Expertise
D2M boasts an expansive network spanning both the EU and the Far East, built over years of industry experience. For SMEs, this means tapping into a wide array of suppliers, manufacturers, and industry-specific experts without the need for lengthy research or initial outreach. This access can significantly expedite the product development timeline and ensures that the sourced entities are credible, reliable, and adhere to confidentiality standards.
Transparent Approach
D2M’s sourcing service is not just about finding a manufacturer or a specific material. It’s a comprehensive journey where SMEs are involved and informed at every step. From initial needs analysis to detailed presentations on sourced entities, the entire process is transparent. This inclusive approach empowers you to make well-informed decisions, fostering a sense of ownership and alignment with the project’s objectives. Furthermore, D2M’s willingness to manage additional tasks, such as organising international air-freight, ensures a hassle-free experience.
FAQs
What is sourcing in product development?
Sourcing in product development refers to the process of identifying and obtaining materials, components, or manufacturers essential for the creation of a specific product. This can involve finding the right manufacturing partners with specific expertise or securing special materials that align with the product’s design and functionality requirements.
How do I choose a sourcing partner?
Choosing a sourcing partner involves evaluating potential candidates based on their industry reputation, expertise, past client testimonials, and the depth of their network. Factors like adherence to quality standards, transparency in communication, and their ability to understand and align with your product vision are also critical. D2M, for instance, offers a deep network of trusted partners, ensuring that the chosen entities are reliable and suited to your project’s specific needs.
What are the risks in sourcing materials?
Risks in sourcing materials include potential quality inconsistencies, delays in delivery, fluctuating costs, and unavailability of specific materials or components. There’s also the risk of suppliers not adhering to agreed-upon terms or intellectual property breaches. A robust sourcing process, like the one D2M offers, aims to mitigate these risks by thoroughly vetting suppliers and ensuring clarity in agreements.
Can I source materials internationally?
Sourcing can either expedite or delay production time, depending on its efficiency. If the right materials or manufacturers are identified promptly and align with the product’s needs, it can streamline the production process. However, challenges like delays in material delivery, renegotiations with suppliers, or the need to switch sourcing partners can prolong the production timeline. Engaging with an experienced sourcing partner like D2M helps in minimising such delays, ensuring that the project remains on track.
How does sourcing affect production time?
Sourcing can either expedite or delay production time, depending on its efficiency. If the right materials or manufacturers are identified promptly and align with the product’s needs, it can streamline the production process. However, challenges like delays in material delivery, renegotiations with suppliers, or the need to switch sourcing partners can prolong the production timeline. Engaging with an experienced sourcing partner like D2M helps in minimising such delays, ensuring that the project remains on track.
Overview of Sourcing
Sourcing in Product Development: A Comprehensive Service by D2M
In the complex world of product development, sourcing stands out as a pivotal component, and its execution can significantly impact the success or failure of a project. D2M offers a robust sourcing service that ensures your product gets the ideal materials, components, and manufacturing partners it deserves.
What is Sourcing in Product Development?
Sourcing isn’t just about finding materials; it’s about identifying the right resources essential for a product’s creation. This process can involve unearthing specific components that align with a product’s design intent, discovering unique polymers that enhance functionality, or selecting the right manufacturing partner with expertise tailored to your product’s production.
How D2M Enhances Your Sourcing Journey
Choosing a sourcing partner is a decision enveloped in multiple considerations. D2M stands out with its established industry reputation, rich history of positive client interactions, and an expansive network of trusted entities. Our team ensures the suppliers we recommend are not only reliable but also perfectly aligned with your product vision.
Furthermore, D2M offers the advantage of sourcing both locally within the EU and internationally in the Far East. Such geographical flexibility ensures clients get access to a vast array of materials and partners, broadening the horizons of what’s possible for their product.
Having manufactured our own designs with partners in the Far East, we deeply appreciate the value of reliable production partners and can help you avoid common pitfalls based on our own direct and extensive experience.
Risks & Their Mitigation
Sourcing, while beneficial, is not devoid of challenges. Risks such as quality inconsistencies, intellectual property breaches, unanticipated costs, and delivery delays can surface. However, with D2M’s meticulous approach, these risks are significantly mitigated. Our process involves thorough vetting of suppliers, clear communication protocols, ensuring clarity in all agreements and using in-country agents where necessary. Our primary objective is always to protect your interests and ensure that your investment in product development is safeguarded at every turn.
Another unique aspect of D2M’s service is our proactive approach towards potential challenges. Recognising that the availability of a particular material or component can sometimes make or break a project, we prioritise such crucial elements early on. This proactive stance ensures that any potential roadblocks are addressed at the outset, minimizing future disruptions and securing the project’s progress.
Timescales & Considerations
The intricate nature of sourcing dictates a timescale that ranges between 3-4 weeks. However, D2M’s extensive experience in the field often translates to expedited processes, ensuring that you are always ahead of the game.
While our sourcing process is exhaustive, we maintain transparency about potential uncertainties. For instance, while we commit to finding the best solutions, there may be instances where the ideal material or component might not be commercially viable. However, you can rest easy knowing that D2M’s commitment to their success means we will leave no stone unturned in our efforts.
Additionally, we offer flexibility in our interactions, whether you prefer face-to-face meetings in our Cheltenham studio or online consultations. If there’s a need to post materials or prototypes to suppliers, D2M facilitates this, ensuring our clients experience a seamless and hassle-free sourcing process.
In Conclusion
D2M’s sourcing service is more than just a procedural step in product development; it’s a strategic partnership. From the moment you embark on your sourcing journey with us, we’re committed to providing unparalleled expertise, unwavering dedication, and a commitment to ensuring your product sees the light of day in its best form. We’ve been in your shoes and we know all about the challenges first hand and so can hand-hold you through this vital part of bringing a new product to market.