Price, quality and delivery time are the three core elements of purchasing beauty products. These three elements affect each other and restrict each other. As a result, how to find the best balance point between them is the challenge that every purchaser needs to face.

Firstly, price is an important factor in decision-making. Purchasers need to ensure that the products have a reasonable price, while also considering costs and profits. However, the pursuit of low prices alone may lead to product quality and delivery time that are not guaranteed. Therefore, purchasers need to consider the relationship between price, quality and delivery time to find a balance that can meet their needs and control costs at the same time.

In addition, quality is an essential criterion for purchasing beauty products. High-quality products can improve market competitiveness and attract more consumers. However, if purchasers overemphasize quality, they may face the risk of price increases and delivery delays. Therefore, when considering quality, purchasers need to clarify their own needs and minimize procurement costs under the premise of ensuring quality.

Furthermore, delivery time is important to ensure that products are delivered to the market on time. A reasonable delivery time can ensure that purchasers maintain an edge in a competitive market. Therefore, when considering the delivery time, purchasers need to consider their production plans comprehensively. In addition, they also need to establish a good communication mechanism with suppliers to ensure that products are delivered on time.

In practice, purchasers can balance price, quality and delivery time in various ways. For example,

1. Establish a scientific and reasonable supplier evaluation system. By evaluating suppliers’ price, quality, delivery time and service level, purchasers can select high-quality suppliers that meet their own needs, to reduce procurement costs and shorten delivery time. To establish such an evaluation system, we must first clarify the evaluation criteria, including price, quality, delivery, service level, technical capability, etc. Besides, we need to review suppliers regularly to ensure that they continue to meet the purchasers’ requirements.

2. Develop flexible procurement strategies. In order to achieve a balance of price, quality and delivery time, purchasers can adjust procurement strategies according to market changes, such as centralized procurement, decentralized procurement and portfolio procurement. Firstly, centralized purchasing is a common strategy for obtaining better bargaining power through centralized purchasing volume to reduce procurement costs. Secondly, decentralized procurement is suitable for multi-variety and small-batch procurement needs, which can improve the flexibility of procurement. Thirdly, portfolio procurement combines centralized procurement and decentralized procurement, which can be flexibly adjusted according to different procurement needs and actual conditions.

3. Establish a supply chain management system. The supply chain management system is an integrated information system. It can realize the information sharing and collaborative work between purchasers and suppliers, so as to improve the transparency and predictability of the supply chain and reduce the impact of uncertainty on price, quality and delivery.

To sum up, price, quality and delivery time are the three core elements of beauty product procurement. How to balance the relationship between them is the challenge that every purchaser needs to face.

Hoyip empowers partners with professionals in sourcing, sales and quality control. Via our partnership with global DFSs, distributors and brand agencies, we enhance the competitive edge of our partners. All products pass through quality inspection before warehousing. In addition, Hoyip also provides digitalized solutions for warehouse management, ensuring highly efficient logistic operation. Moreover, our professional warehouse management team contributes to quality inspection and delivery. Our partners can have real-time detailed visibility of the purchase-sell-stock process.

Are you looking for premium and professional cosmetics, skincare and perfume wholesaler? Hoyip will definitely be your first choice. Please contact us to inquire details of products you need! More Info, click here.