How to Optimize the Sourcing Process in B2B Commerce?

The old cumbersome process of sourcing from manual quotations is a thing of the past now. Now, B2B customers  like to instantly get the desired results while searching for the products.

The B2B is a slow moving giant. And it is falling behind the autonomous tactics used in on the B2C space.

The best option of a way out will be an online B2B wholesale Marketplace where sellers will be able to source products from different wholesalers within the marketplace on a single platform.

This will provide a profitable platform to the wholesalers where in they can establish a successful marketplace while accomplishing a lot of involved tasks.

A separate backend login panel is created for the wholesale users. The sellers can view wholesalers list, their products, ask quotation, and view pricelist as well.

Optimizing the Sourcing Process

The old traditional process has always been associated with a –

  • Poor online product search & limited wholesaler information
  • Slow quotation process
  • lot of manual work

The B2B sourcing process can be optimized by using an online sourcing process. In turn, it is beneficial for the sellers who want to procure products from the wholesalers efficiently.

We will just explain the process that is quicker, more convenient and an affordable way to get the supplies that are needed by the sellers via the Wholesalers.

How a Wholesaler Can set up the products?

One the one end, the B2B Wholesale marketplace wholesalers can accomplish their tasks under their own account panel that include –

  • Unit Creation
  • Price Rule Creation
  • Product List Creation
  • Seller Quotation Approval
  • Leads Management

Unit Creation

Here, the wholesaler will create the units for their products which are used in while creating the Price rules.

To add new units click the Add New Unit button which brings up the section to add a unit type.

Price Rule Creation

Here, the wholesalers will be able to create price rule that will apply to the products and according to them the sellers will be able to quote for the products.

After that, the wholesaler can create price rules or can edit an existing created rule. Here, add the details for the rule like – Rule Name, Status, and Manage Units.

Product list Creation

Here, the wholesaler can Add New Product to attach the product to the Price rule.

The product details can be added by the wholesaler himself by entering –

  • The minimum & maximum quote quantity of the product.
  • Production capacity of the product in a specific duration of time(Can be – Per Day, Week, Month or Year).
  • Mentioning the price rule for the product.

After entering the product details the wholesaler can set the status as Enabled to make the functionality visible.

Then the wholesaler needs to assign the product to the price rule.

How a Seller can Source the Products?

The sellers also have to register in the B2B marketplace and after that they can log into their account panel and can easily quote for the products that require re-ordering.

Seller Quotation

The seller can share a quotation with the wholesaler by tapping the Quotation button on the product page, bringing up the sharing option.

Here, the seller can enter the –

  • Product Name– The name of the product will remain auto-fill.
  • Quantity– The seller will specify here the units of product. This will be having a limit.
  • Price Per Item– Here the seller will specify the quotation price for the product.
  • Message– The seller can mention a note for the wholesaler with regard to quotation.

After the sending the quotation, the seller can check the quotation under his account panel by navigating to wholesale products section. 

The seller can also see the wholesaler’s list by tapping the View Wholesaler(s) link.

Wholesaler Quotation

The seller will be able to check the wholesaler quotations by navigating to Wholesale Quotations section under their account panel.

The seller can edit a quote to communicate regarding the respective quote with the wholesaler.

Wholesaler Product Quotation

Lastly, on the wholesaler end the wholesaler can check the the products for quote under the Product Quotation section. 

From here, the wholesaler can communicate with the respective seller about the quote.

Lastly, if every thing goes okay, the wholesaler can apply the action to the quotation or write a message for the seller.

So, that was much about the optimizing the sourcing of products using the Multi Supplier Wholesale Extension for Magento 2.

You can also check the Multi Supplier Wholesaler Extension for OpenCart platform as well that allows you to easily optimize the sourcing of products.

For any doubts or suggestions get back to us at [email protected]

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