Wag!’s business model implies that certified and insured walkers come to the dog owner’s home when she is not around to get the dog. This requires a safe mechanism to exchange the key for the flat or house between dog owner and walker. Wag! approached Intrepid Sourcing with the task to develop a secure lock solution for storing the key as quickly as possible considering their rapid growth. Since the tight time frame didn’t allow for the development of a completely new lock–especially in the necessary quantity–the best possible adaptable lock solution had to be identified from countless Asian suppliers. Relevant factors were not only the product characteristics and price, but of equal relevance
were customization, lead time, logistics and packaging. Intrepid Sourcing procured, adapted and oversaw the production for in total more 300,000 locks. Based on this successful short-term solution, Wag! and Intrepid Sourcing are working on an improved and further customized lock solution. Before Intrepid Sourcing took over the coordination of the locks, these were ordered from China at an about 20 percent higher price. Furthermore, stickers and packaging had to be done in the US, which caused Wag! a lot of additional effort and cost. The entire supply chain was streamlined efficiently by setting up these steps in China, allowing to ship the locks directly from a fulfilment center.
Wag!’s overall cost decreased by 30% saving Wag! almost 1 million USD in less than a year. Now Wag! doesn’t need to worry about their supply of branded and customized products. Instead, they can focus on further developing their technology, services, and attracting venture capital.
Even A Successful Tech Company Like Wag! still needs help sourcing from different suppliers.
With Intrepid Sourcing’s help, Wag! successfully achieved the goals of developing their own customized production lines, product sourcing from reliable suppliers, significant cost reduction, faster turnaround times, streamlined logistics planning and coordination. Wag! has decided to continue the successful collaboration with Intrepid Sourcing also for the future.