Global Sourcing and Supply Management

Over the past several years there have been three major developments in the evolution of global sourcing. These are that more companies are pursuing a global supply base along with increasing the number of countries viewed as a sourcing base and an increase in the quantity and variety of available products.Sourcing Consultant China



Some of the factors that are leading companies to look at alternate supply sources (Globalization) include the education level of workers available in other countries, the size of the domestic and import markets and market liberalization.



This market liberalization, led by China's admission into the World Trade Organization has assured commitments to reduce high tariffs. There is also an abundance of low-wage labour available. China's average hourly manufacturing wage is 60 cents an hour with an able work force of 941 million.



Companies looking at these alternate supply sources are then faced with several challenges in global sourcing among them is the requirement to identify and establish new supplier relationships.



Some of these new supply sources will have less advanced Information technology systems and an inability to share information easily.



For those companies embarking on alternate supply sources they must perform more research and due diligence on those overseas suppliers and must also look at incorporating local business culture into their negotiation strategy.china sourcing company



There are many different approaches to global sourcing such as establishing an international Supply Management Office, the setting up of local joint ventures where they work with an in-country enterprise to establish a presence. Some companies will look at finding a Trading Agent to act as a sourcing broker.



Today, search firms especially those with a Strategic Procurement and Supply Chain focus are familiar with companies that utilize these approaches and can provide those well qualified candidates no matter which approach a company has in place.

Importing From China: Getting Started Sourcing Products

In this article I'll give some suggestions on the first actions to take to get started importing from China and finding products.



It can seem daunting at first how to begin finding manufacturers to deliver the products you need for your business. I recommend browsing online sourcing websites where manufacturers list their available products as well as visiting trade shows to begin seeing the product selection available and meet sellers.
Sourcing Agent China



The most well-known site for importing products from China is Alibaba.com. This site is a large directory where manufacturers feature their products. A virtual trade show if you will. Alibaba is an incredible resource to browse and see the selection and type of products available. You can get a general idea of what is available and general pricing information. Many factories list their MOQs (minimum order quantity) as well.



Another feature of Alibaba is that you can immediately chat and contact the sellers. An important first distinction is to find out whether the company is the manufacturer of the product or a trade company representing a variety of products. The easiest way to find this out is to just ask when you contact them. Ideally you want to deal with the factory directly for cost and operations efficiency.



Although it is possible to import your products and do all your business online. I highly recommend taking further due diligence if you are interested in a long-term sustainable relationship with your supplier. This can be done by taking the trip to China to visit the factories of the suppliers you have contacted to see that everything is in order. Another good option is to get an experienced sourcing agent on your side to represent your best interests on the ground in China.Purchasing Consultant China



Another excellent way to see the many products available is to go to a trade show. This allows you to walk the floor and see up close all the products in different industries and immediately talk business with the sellers. Often you can make contact with the companies then later do a factory visit after the show is over. The biggest trade show in mainland China is the Canton Fair which takes place twice a year in the fall and the spring. Another large trade show is the Hong Kong Mega Show which I haven't attended yet but have heard good things.



I hope these few ideas are helpful in getting started and taking action towards finding and importing products from China.

Choosing a Product Sourcing Company

Product sourcing is a part of company working that carries the utmost importance. Through

finding a product Sourcing Company China you could be saving costs and time, and time is money.

It is important that you know what to look for in making this crucial decision or you may

end up spending useful funds where you could be cutting costs and saving money. Finding

Suppliers that are going to give you the biggest bang for your buck is as simple as

knowing what you're doing. For newcomers, it's extremely important that in your quest to

finding product sourcing companies you do a great deal of research and don't let your

guard down. Some of the product sourcing companies available to you are good with their

words and can be quite convincing but spending your money on a company who is using

outdated sources and spending their money on making a sale is not wise spending and can

lead in overall failure.



A lot of companies spend a ton of money on their sales pitch and advertising and not

enough on their resources, so avoid Suppliers that sound "too good to be true" because

most often, they are just that. Don't allow yourself to be fooled into spending money

just because it sounds good, when browsing product sourcing companies make sure you ask

for proof and come up with the best possible solutions to problems and concerns that you

yourself have. Avoiding the drop shipping and wholesale scams is a big part of it as

well. A lot of product china sourcing company offer drop shipping and wholesales with a

pretty ribbon around it, again don't let yourself be fooled this is where all of the

scams are.



Lastly, finding reputable supply chains is of extreme importance; if your company is new

to the industry, chances are they don't know where the biggest savings are which ends up

costing you money. Make sure the product sourcing companies you're working with know

their way around the block and have at least three years experience under their belt,

from there just make sure the company data isn't out of date. Checking websites for

updates is important as well, but since you can't always see when the content was

updates, looking at the bottom of the website for a copyright date can help you determine

how often they check up on themselves.

Sourcing Agent - Important Information You Must Remember

For any business who wants to have a global reach and appeal without causing too much financial

burdens, a sourcing agent is an important part of the business operations. For the garment industry,

the Sourcing Agent China is the lifeline of the business to

get the best quality clothing for the soundest price. Bangladesh, being one of the mega-industries

for garments has the best sourcing agents. The best sourcing agents in Bangladesh have these

important qualities:



1. They are capable of making market research for the buyers.


2. They create a supplier selection.


3. They do the negotiations between the suppliers and the buyers.


4. They implement quality assurance.


5. They do pre-shipment inspections to ensure that the quality is consistent and the mode of shipment

is safe.


6. They do the necessary paperwork like clearances.



As you can see, the need for the best agent in Bangladesh is really essential for the smooth flowing

of business operations and also to ensure that the quality of garments and fabrics are of the highest

level. Getting the best souring service in Bangladesh is therefore a great move to improve a business

as well as continuously supporting the great quality and professional work standards of Bangladesh

which is considered as one of the biggest players in the garment industry.



The work of the best sourcing service in Bangladesh is always not over and their dedication in

bringing businesses the right things before the deadline with precision and quality is something very

commendable. Any businesses who are dealing as well as transacting with the best Buying Agent China in Bangladesh are certainly at the best

hands for their operations.

Sourcing Agents - How Do They Increase the Profitability of an International Business?

In today's international business market, where competition is so fierce, the importance of choosing the best off shore or on shore Buying Company China has occupied the front seat. Owing to the expertise of different countries in different fields such as manufacturing, product building, etc., it has become increasingly difficult to keep up with their pace.



Many business firms irrespective of their sizes are constantly checking and giving utmost importance to the questions like, "Are we getting the best price quotes for the source we are using? Are the sourcing materials and products bought from the best possible source?"



In order to avoid all these potential complications and have a clear picture of the source, most of the International businesses are using the expertise of sourcing agents both at national and international level. Following information throws some light on the importance of role of sourcing agents and how they can help your business develop at both national and international level.



Sourcing Agent



A good sourcing agent must be capable of reducing at least 20% of the overhead on the purchase department. This includes both the hidden costs as well as the standard costs.



Standard Costs: Some of the standard costs that a sourcing agent should be capable of reducing include and are not limited to the cargo, shipping insurance, customs fee, import tax, dock fee, etc.



Hidden Costs: A good Sourcing Agent China should also be able to minimize some of the hidden costs such as contract fees when hiring new supplier, costs of visiting the supplier, fees incurred due to delay in shipping, custom fees accrued due to inappropriate documentation or due to some missing docs, anti-dumping fees, delays at the shipping terminal due to congestion etc.



International Sourcing Agents



Good international agents make international process of sourcing as easy as a domestic one. These global sourcing companies often offer services such as taking care of the entire offshore manufacturing process along with purchases. International business transactions are made easy with global sourcing companies as they are well versed with all such processes.



IB's often do not hesitate to pay a ten to twenty percent extra on top of the agreed price to these agents, because of the following benefits:



International Sourcing Agents Often Represent the Supplier



Provide an immediate access to the best suppliers and trustworthy companies that offer the most relevant expertise in minimum time frames.



Some of the global sourcing companies also offer engineering services and lend a hand in the development of new products.



Keep an eye on the price quotes from various all over the world if found necessary.

International agents apart from managing the international communications also handle the translations and arrange site visits at appropriate times.



Sometimes, they can also turn out to be buying agents or project managers for projects that require multiple overseas suppliers.



The above mentioned are only a few of the benefits that an International Business can enjoy by hiring a good agent. Hence, it might be a good idea for you to try out one of these International or domestic agents on you next project and reap the benefits that come your way.

Global Sourcing and Manufacturing

The growing sophistication of Asian based sourcing and manufacturing is a triumph of logistics that

would make an army general green with envy. Not only do all the materials required for a typical

production line have to come together correctly, they have to come together at a precise moment in

time. This is business in today's international era, and it demands constant upgrading of process,

materials, and workforce.china sourcing company



It's no longer the norm to apply borders in today's business setting. For an example, a typical

western company will engage with a China based subcontractor to manufacture their products. The

materials are most likely imported from 3-5 Asian based countries, the design and marketing come

from the US or EMEA, and the products are produced by mainland Chinese, in a factory which is likely

owned and managed by a Taiwanese company.



In the coming months and years, Asia's competitiveness will depend more on factors outside the

factory gates. As the traditional advantage in low-cost labor begins to erode, most Asian nations

will soon realize that if they want to continue to remain competitive, they will need much more than

lower wages. A true global supply chain with major infrastructure initiatives and improvements will

transform the way each Asian nation is interconnected with the global business community.



Companies all over the globe are realizing that a rising middle class across countries such as,

China, India and Brazil are target areas, and are rushing to grab a share of these vast markets.

Leading this phenomenal change is China. It has reached a feverish pace during the last few years,

and China is now taking a leadership position in the world. They have the fastest growing economy,

millions are moving out of poverty each year and China's middle class is on track to reach 700

million by 2020. This country's huge population and ever-rising GDP are forming a massive group of

new consumers. The potential of this emerging market is very attractive to global brands that are

looking at selling their products in China. In addition, the Chinese government is committed to

moving the economy away from an export driven model, which is dependent upon global markets to

support its sales, to a more domestic consumer driven market. Once again, this is good news for

manufacturers and service providers that are determined to sell to the

Sourcing Agent: Essential Facts You Should Know

One of the most convenient methods of running a business efficiently is the use of a sourcing agent. In fact, there are many companies all over the world that rely on this type of agent. This is because hiring them can provide a lot of advantages to you and your business. Now, continue reading for more information.



The Roles and Responsibilities of a Sourcing Agent



One of the best advantages of hiring this type of agent is the fact that it can lower the company's expenses since the products are bought from low cost nations, including China, India, and Vietnam. An agent takes different roles and responsibilities. He or she must visit the factory in order to make sure that your company is getting the best possible quality, terms, and price. A reliable agent must be able to negotiate with the factory to get the best terms and price. He or she must be able to handle any details that might occur at the factory. A good sourcing agent is someone who knows the importance of project management. Also, it is his or her responsibility to visit and check the facilities at the factory and ensure they have the required certification to operate.



Finding a Reliable Sourcing Agent China



If you are looking for an agent to do the job for you, keep in mind that a good sourcing agent is someone who has the abilities and knowledge to help your company save money. Your agent must be reliable enough to offer helpful methods on how to outsource various products and services at the lowest prices without compromising their quality. Indeed, this particular type of agent has an important role in your business. In this connection, you should be careful when it comes to finding the best agent.



1. In finding the best agent for your company or business, one of the most important things you should keep in mind is to opt for the one who has a deep understanding and knowledge about the particular location or country where you are planning to put up your business. It is best to choose an agent who has a profound knowledge about your industry.



2. An agent needs to do outsourcing roles and responsibilities on behalf of the company owner that is why it is very important to hire an agent who has an outstanding skills and knowledge to bid from different factories. It is also a must that he or she maintains good ethical practices and efficient work.



3. Once you have found an agent who will work for you, it is always wise and practical to let him or her sign a non-disclosure agreement in order to protect your business. This is to ensure that your agent will keep any confidential information about your company while working for you. Another thing you can do is to search online. Nowadays, you can find various sourcing agent companies that offer their services online.



It is indeed true that the knowledge and skills of a sourcing agent can help your business reach its maximum potential. Just make sure to opt for the best agent so that you can be at ease that you are in good hands.china sourcing company