How To Improve Online Arbitrage Sourcing Assistant Performance With This Google Sheet Formula

In this blog post, I am going to be talking all about how you can improve your online arbitrage sourcing. I am going to show you and explain a very simple but very powerful Google sheet function which you can introduce into your sourcing assistants' sheets to help them improve the quality of deals coming into your business.

The idea of this blog post is to explain this to you, and really introduce this system into your sourcing assistants' team. 

This formula and function can help to educate, help evolve and really help the systems mature your business and overcome this.

 The goal behind our sourcing assistants is to find potential profitable products for your business, and that will be based on criteria which you have set in your business. Everyone has a different criteria, but what this formula allows you to do is it allows you to create a simple tab, which will be the criteria for winning products, and all you're going to do, depending on what category you are sourcing in, you're going to set up your KPIs. This is the criteria for what result is a winning product, or a potential winnable product. 

You will still have to review and analyse these products, however, this may start to line out potential issues which are coming in from your sourcing assistant teach which could have been avoided in the beginning. 

All you have to do is put in a criteria for a potential profitable product. 

What you can do then is you can create a sourcing assistant management sheet. This is where they are going to submit all the products. All your sourcing assistants will be doing is submitting what day it is, the reference, the name of the product, the ASIN, the store, the URL, the Amazon URL, the buy for, the sell for, the quantity, the FBA sheet, and much more.

The above is a formula which we added, which reviews all the criteria which we have just set up in the previous tab. This is essentially what and how this function is used. 

To start with, this is red, and it says, "Fill required info from column P to V (Refer to example sheet", and this is simply saying is if e6, o6, p6, or q6, if any of these cells are empty, it basically means to fill them in that information. Then, as you as you fill in this information, it will analyse based on that information. Currently, the analysis is green and it is saying that it is a winner, and the reason it is saying this is because all the parameters match. 

If for example, for our criteria here, we say that we want it to be below 1000, and say for example, we put in 1001, what this is going to do is it is going to automatically analysis it to say the sales rank is higher than what we put into the criteria. Let's say for example, it was 120, 888, it is going to say the same thing. This is then going to point your sourcing assistant in the direction of that there is something wrong with the sellers rank, and saying to not submit it because it is going outside our range. 

It is the same concept with sales, for example, let's say that review by Keepa, then there is only one sale, it is going to say that the sales are low and to not submit it - based on the criteria. 

This sheet ultimately allows you to help your sourcing assistant team to see when not to submit something because it is wrong, or when to submit something because it is right. 

The formula for the Sourcing Management Sheet is here:  =IF(E5<>"",IF(OR(Q5="",R5="",S5="",T5="",U5="",V5="",W5=""),"FILL REQUIRED INFO FROM COLUMN P TO V (REFER TO EXAMPLE SHEET)",IF(M5<'SHEET SET UP - CRITERIA SELECTION'!$B$5,"LOW MARGIN",IF(P5<'SHEET SET UP - CRITERIA SELECTION'!$C$5,"LOW PROFIT",IF(Q5>'SHEET SET UP - CRITERIA SELECTION'!$D$5,"SALES RANK IS HIGHER",IF(R5<'SHEET SET UP - CRITERIA SELECTION'!$E$5,"SALES ARE LOW",IF(S5="NO","PRODUCT DO NOT MATCH",IF(T5<'SHEET SET UP - CRITERIA SELECTION'!$F$5,"NOT IN STOCK",IF(U5>'SHEET SET UP - CRITERIA SELECTION'!$G$5,"TOO MANY SELLERS",IF(V5>'SHEET SET UP - CRITERIA SELECTION'!$I$5,"WEIGHT IS HEAVIER THAN THE CRITERIA",IF(W5>'SHEET SET UP - CRITERIA SELECTION'!$H$5,"LARGE SIZE PRODUCT","OK")))))))))),"") 

Further reading:

https://www.systemisefulfilment.co.uk/blog/how-to-10x-your-business-with-virtual-assistants

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