Elksourcing

Many businessmen believe “you get what you pay for”, thus, they cannot buy high quality products at low price. In most cases, it is true. However, if you work hard and use some tactics, it is possible to pay relatively less and get more, as at end of the day, we live in the market economy.  1) Compare between multiple suppliers Compare several suppliers and their products. Within the supposition of getting equal quality, prioritize those merchants with low prices. But judge the quality of the product. Compare the quality and price of several suppliers and buy from the one offering fewer priced with quality goods. 2) Compare price on B2B platforms There are several famous B2B websites in China, like Alibaba, Made-in-China, Global Sources and etc. These platforms are packed with a large number of product suppliers, whose products are labeled with the approximate price range. You can understand roughly the…

Global sourcing companies give necessary advice to organizations regarding the successful implementation of their sourcing strategies, among that, selecting a sourcing agent that fits your needs and preferences is very important to your success. Consider the following factors before selecting a sourcing agent for your business. 1. Knowledge of Sourcing Agent This is the first and foremost aspect you should focus upon. The sourcing agent you choose should possess solid knowledge of the items they deal with. Problems may arise in technical or electrical products as the sourcing company needs to be aware of the specifications. If your hired sourcing agent does not know the technical specifications relating to your product, it can prove to be futile for your organization. It is advisable to hire a sourcing agent that has enough professional experience in handling the same type of products. Furthermore, your selected sourcing company should also be familiar with the production…

While you are sourcing from China, you may always hear about Minimum Order Quantity (MOQ), it makes your business difficult when you only own limited funds, or simply want to play it safe by starting small to test the market before making larger purchases.  Before you begin negotiation, the first step is to understand why the supplier has imposed a MOQ. Is it because there is a lot of work upfront? Or maybe it’s because they prefer to work with larger buyers. Understanding the reasons behind the MOQ will help you better understand their position and allow you to negotiate and propose to best counter offer. Once you have a better understanding of your suppliers’ position and follow our sourcing advice, you possibly can get a lower minimum order quantity. 1: Limit product customization Products can be customized to a varying degree. A custom logo on a pre-existing factory design is…

For many online sellers especially for new starters, direct sourcing from China is a daunting job, as there are lots of scammers online, they disguise themselves as good manufacturers, offer very attractive prices, but may disappear after getting your deposit. Also, there are many traps and hassles in the importing process. So, it is recommended to using a reliable sourcing agent in China. What can they offer you? Below are some key areas. 1. Offer Competitive Prices A reliable China Sourcing Agent is able to offer the most competitive prices to his client alongside good quality products. The sourcing agent has the capability to negotiate with suppliers for the lowest possible prices. They are able to offer competitive prices because they have a huge pool of suppliers, so is capable to source almost all products in their professional industry you may need at reasonable prices. 2. Offer Good Communication Once you have…

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…

Quality inspection is an important part of the manufacturing process and have a place in a number of areas of the supply chain. The inspection of products is also appropriate in other areas of the supply chain such as inspections during the manufacturing process, inspection of the final finished product, and inspections while the items are stored in the warehouse. 1) Inspection of Samples The quality inspection occurs so that a company can verify that the samples are within certainly prescribed tolerances in order for the mass products to be useful. For example, a company may purchase an aluminum part to be used in their manufacturing process, but before it can be used, it has to be inspected to see that the part is within the tolerances to be used in the process. When a purchasing agreement is made with a vendor, it will define the characteristics of the product that are to…

Nowadays, more and more importers realize that it is important to hire a purchasing agent in China to help them, as indeed there are lots of benefits of doing so. The following are some of the key work the purchasing agent can do on behalf of you. 1) Supplier Evaluation China purchasing agent will evaluate suppliers, review products, and negotiate contacts. A purchasing agent will assess any supplier on the basis or quality, price, and speed of delivery when it comes to products and services. He or she will interview any kind of vendor and pay a visit to the distribution centers and plants of any supplier to learn about and examine products, prices, and services. A purchasing agent will also attend trade shows, meetings, and conferences just to learn even more about industry trends. He or she will work hard to make contacts with any sort of supplier. 2) Price…

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…