A small virtual with a newly acquired OTC product needed a set of strategic partners. Instigator did the heavy lifting and let the virtual stay focused on what they do best.
The Opportunity
A virtual company acquired an over-the-counter product…and a need for multiple strategic partners. To ensure that the product successfully lived up to its potential the company needed to quickly identify a development partner for line extensions, a second manufacturer who could lower COGs and ensure security of supply, and a commercial partner to drive sales in retail outlets.
The Solution
An outsourcing expert from Instigator met with the company to fully define the scope of their requirements and capacity.
Using industry knowledge and contacts from fifteen years of previous outsourcing experience, he created a database of companies with capabilities specific to the product and the company’s needs.
He then created a Request For Quotation (RFQ) document specific to each area—development, manufacturing and commercial—and contacted selected companies to garner their interest. This RFQ was sent to companies he deemed to have the capabilities needed to be successful in working with a small virtual company.
After receiving the RFQ’s responses, the Instigator expert selected three companies from each category, with his selection based on the previously identified set of partner criteria. He then conducted site visits and coordinated face-to-face meetings to discuss their proposals.
The Results
After the RFQ process was completed, our outsourcing expert successfully negotiated and executed agreements for each: development, master supply, logistics, order-to-cash, and marketing/sales. By utilizing our expert’s industry knowledge and experience, Instigator found ideal partners for the small virtual while allowing them to stay focused on their core business.
