• Elksourcing:Factors to Consider While Sourcing Products Globally

    Elksourcing:Factors to Consider While Sourcing Products Globally

    Organizations need to consider pros and cons before engaging themselves in global sourcing activities. Conducting sourcing activities in a different destination is undoubtedly a tough task for marketers. Organizations can gain from their sourcing operations, but it is not free from challenges. The following factors should be considered while sourcing products globally: 1) Landed Cost Most people focus on the lowest unit cost. However, the unit cost is just one piece of the total cost equation. Besides landed costs, marketers also need to focus on transportation, insurance, duties, brokerage services, etc. If you run an organization, you also need to consider costs relating to unforeseen circumstances. Instances may arise when customs officers decide to assess the freight. For this purpose, you also need to include the examination and local coordination charges. Another factor you can’t afford to neglect is the transparency in the supply chain. Delays in the supply chain would…

  • Elksourcing:A Step by Step Guide for Buying from China

    Elksourcing:A Step by Step Guide for Buying from China

    Buying from China has proven a successful tactic for many businesses. However, it is not an easy task, especially for the newbies. The importing process can be extremely complex, confusing, and costly. Expected gains can often be erased by long transit time, fluctuating shipping cost, unexpected delays, and quality issues. 1). Make sure you can legally import your chosen item Most items will be allowed, but there are certain guidelines that must be followed for some types of items. The United States imposes stricter guidelines on agricultural products, for example. Additionally, Chinese laws may prohibit the export of certain items, like animal by-products or fake designer clothes and accessories. Check with the laws and regulations of both countries before making an order. 2. Identify the goods you want to import You make money by selling products. Choosing the wrong products means you are losing time and money. If you’re going to…

  • Elksourcing:How to Ensure Quality of Products Sourced from China?

    Elksourcing:How to Ensure Quality of Products Sourced from China?

    China has become the most popular sourcing destination now; many western companies are keen to import Chinese products given its low cost and high quality. However, it is a challenging task for business beginners given the demographic and cultural differences, especially because it is difficult to ensure quality of the imported products. 1. Understand the value of your products When you plan to source products from China, you need to have a full understanding of the products. With the product value in mind, you are allowed to figure out the quotes from suppliers which may help you settle on the market. You have to figure out the raw material, basic process, functions, and even the design. The most important thing you have to understand is about product quality. You have to know the price range of the product at a certain level of quality. Normally, you will find different prices on…

  • Elksourcing:Benefits of Using a China Sourcing Agent

    Elksourcing:Benefits of Using a China Sourcing Agent

    Finding a reliable supplier is one of the most important matters in starting an import business. However, it is uneasy considering you stay at the other part of the globe. So, it is advisable for you to use a sourcing agent to help you find the high-quality suppliers you need.  The following are the main benefits: 1.    They can personally visit the factories and check the quality of the products. 2.    They can help you choose the right products and the best supplier based on your specifications. 3.    They negotiate prices with the supplier. 4.    They do quality control. 5.    They provide logistics and shipping support. 6.    They speak the same language the suppliers do and they know the culture by heart thus there are almost no communication barriers. 7.    They are familiar with the business landscape in their country so they know the suppliers to consider and those whom you need to stay away from. 8.    They are experts…

  • Elksourcing:Good Practices in Finding a China Manufacturer

    Elksourcing:Good Practices in Finding a China Manufacturer

    When most buyers plan on identifying a new supplier, they are usually tempted to focus on the best price. However, concentrating only on low costs can hurt you in the long term. That’s because shaving a few cents off the price of a product is no help if the quality is below standard and the component or material does not arrive when you need it. In this article, I’d like to share my experience of good practices in finding a manufacturer in China. 1. Decide what you want to produce – This is where a business plan comes into play? Here is a sample clothing line business plan template you can use. The first step is to decide on the type of items you want to manufacture. This would give you an idea of the type of manufacturers you should look out for. If you want to manufacture denims for instance, you…

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