ADVANCED SOURCING & ROUNDTABLE DISCUSSION: Sourcing Challenges & How Verba Helps

ADVANCED SOURCING & ROUNDTABLE DISCUSSION:

Sourcing challenges & how Verba helps.

VBC 2015

Marissa Djafroodi

[email protected]

mailto:[email protected]

SPRING 2014

VERBASOFTWARE.COM (415)

SESSION GOALS

‣ How we have overcome sourcing challenges

‣ Use data to inform strategic sourcing decisions

‣ Roundtable discussion: source more effectively

http://VERBASOFTWARE.COM


CONQUERING PAST CHALLENGES

PART I


SPRING 2014


FULL-SERVICE SOURCING ORDER TRACKING

Added Order Details page

Added “Weekly Digest” email

notifications as things change



FULL-SERVICE SOURCING ORDER TRACKING


SPRING 2014


WHAT IS A “GOOD BUY”?

Changed Full-Service Sourcing filter

from % wholesale to % new retail

Made “new retail” available in the

interface



WHAT IS A “GOOD BUY”?


SPRING 2014


FULL-SERVICE SOURCING QUALITY CONTROL

Added discrepancy reporting

form to the Order Details page

Constantly refining “acceptability” rules

with 3PL



FULL-SERVICE SOURCING QUALITY CONTROL


SPRING 2014


VALOREBOOKS ORDER INVOICE PROCESS

Added the Billing page

Added several data points & tabs to the

invoice detail spreadsheet



VALOREBOOKS ORDER INVOICE PROCESS



IMPORTANT SOURCING STATISTICS

PART I I


verbasoftware.comVERBASOFTWARE.COM (415)

HOW MUCH ARE STORES SOURCING AND HOW OFTEN?



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



WHEN ARE STORES SOURCING?



WHERE ARE STORES SOURCING FROM?

Both 40%

ValoreBooks 48%

Half 12%















ADDITIONAL MARKETPLACES AVAILABLE IN FULL-SERVICE

SOURCING

THE FUTURE IS NOW…



FULL-SERVICE VS. SELF-SERVICE



VBC 2015

53%Percent of total dollars

sourced using Full-

Sourcing in 2014



VERBA TAKES OVER CREDIT LINES




SOURCING TOOL USAGE

‣ Full-Service

‣ Self-Service



SOURCING TOOL USAGE

‣ Full-Service

‣ Self-Service



SOURCING TOOL USAGE

‣ Full-Service

‣ Self-Service



INVOICE BASED ON SHIPMENT/PO




COST SAVINGS REALIZED



VBC 2015

75%Percent saved off new retail

for Spring 2015 buying

season



OPEN TO BUY & WANTLISTING TRENDS



VBC 2015

2.4%Affordable marketplace

offers purchased (under

40% of new retail)

to available offers



VBC 2015

16%Percent purchased vs.

estimated sales



WHEN PROBLEMS ARISE…



How many of you currently list inventory on an one online

marketplace?



VBC 2015

4%Percent of items ordered

that were refunded due to

seller cancellations and/or

not received within the

expected timeframe



VBC 2015

< 1%Percent of items reported as

discrepancies by stores

during receiving process



VBC 2015

< 1%Percent of items rejected

during quality check



ALL UNITS WILL HAVE “290” USED STICKERS




GUIDED ROUNDTABLE DISCUSSION

PART I I I



LET’S TALK ACCOUNTING!

What is the ideal invoicing process for sourcing?



LET’S TALK PURCHASING!

When are you wantl ist ing & sourcing?




How do you wantl ist?




How do you determine what is a “good deal”?



LET’S TALK PO MANAGEMENT!

How do you use the Verba Sourcing tools to bui ld/

maintain purchase orders?



LET’S TALK RECEIVING!

What logist ical issues do you run into during the

receiving process?



LET’S TALK BEST PRACTICES!

From your experience, what are some of our competitors doing that you we wish we

would?



LET’S TALK BEST PRACTICES!

Share one thing you have discovered during the sourcing process that

increased success.




What do you consider damaged/defective?




How do you handle discrepancies?




Thoughts on old edit ions?



LET’S TALK OVERSTOCK!

Has sourcing impacted non-returnable inventory carry

over?


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

QUESTIONS?

Marissa Djafroodi

[email protected]



mailto:[email protected]

Software

ADVANCED SOURCING & ROUNDTABLE DISCUSSION: Sourcing Challenges & How Verba Helps