Featuring Josh Bartel and Drew Roth
In this video, Josh Bartel and Drew Roth discuss product sourcing in the automotive industry. Josh and Drew explore the challenges faced by distributors, wholesalers, and online retailers when dealing with multiple sources for each product.
The conversation covers key considerations for selecting the most suitable source, including drop-shipping capabilities, cost and margin analysis, and lead times. They emphasize the importance of balancing profitability with maintaining stock availability to retain customer trust. Josh and Drew also discuss the concept of “gap buying” — making smaller domestic purchases to bridge inventory gaps while waiting for larger, more cost-effective overseas shipments.
The duo highlights the significance of understanding stock-out costs and maintaining good relationships with multiple vendors. They stress the value of diversifying supplier relationships, even with competitors or smaller partners, to ensure business continuity and flexibility in sourcing. Josh and Drew conclude by addressing the complexities of dealing with “gray market” products and the benefits of having access to vendor inventory data for making informed sourcing decisions.
The podcast delves into the complexities of product sourcing, particularly within the automotive and automotive aftermarket industries. It highlights the challenge of selecting the best source for each product, considering factors beyond just profitability.
Drew outlines three primary considerations for selecting sources: drop shipping feasibility, cost analysis including margins, and lead time assessment, with a focus on domestic suppliers’ quicker turnarounds compared to potentially cheaper but slower overseas options.
They emphasize the importance of maintaining good relationships with vendors, even with secondary or smaller-scale suppliers. These relationships can prove crucial during stock shortages or if primary suppliers become unavailable.
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