Elksourcing

I frequently hear the stories about importers who take high risks by not doing any quality control and end up with bad results. In my opinion, the most under-rated tool to reduce risks in China is certainly running a background check on potential suppliers. 1) Choose the right target Do not waste time searching information about the company mentioned in the salesperson’s signature, or on the trade shows’ booth. They might actually steer you toward another company when time comes for payments. Ask for the company name and address that will be mentioned on the invoice. Or, better yet, ask for a pro forma invoice (if both parties already have a good idea of the products & pricing) and look at the company name on that document. 2) Scare unscrupulous companies away Tell potential suppliers that you’ll have their factory audited before any PO is issued, and later their production…

We all agree, the success of your products on market can vary greatly on how you promote them. In this article, I’ll share you some suggestions, following them will enable you to achieve a competitive advantage in the market and get better placement for your products. 1. Be honest The best way to promote your products would be to sell them the way they are! Focus on the upsides of your product or service but avoid outright bragging. Market researches show that people are less likely to go for products that just plainly state why they’re the best. Try to spice it up, but be honest about your products. This will not only make a good name for your product, but it will make people appreciate it more. 2. Hit multiple markets The chances of your product getting more attention will be much better if you launch it in multiple markets. This is especially…

Buying from China 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 times, rising or fluctuating delivery costs, regulatory fees, and unexpected delays. Here are 7 tips for how to buy goods from china, and what you can do to make the process smoothly and efficiently. 1. Plan your import objective  Before embarking on the actual importation process, be clear about what you want to achieve. Choosing the wrong products will make the business lose sufficient time and money. All successful importers know the importance of choosing the right products for reselling. Therefore, be sure to gather sufficient informationabout your goods of choice. Also, obtain descriptive literature, product composition, and samples before making a final decision. This is crucial in furthering your understanding of the products as well as what you will…

For many businessmen, especially for small businesses and first-timers, sourcing from China can be a daunting task, as they might not have the resources to establish full-scale overseas operations as the way big businesses do.  Here are some tips that can help businesses like yours get an idea about the various options available out there in the market, and zero-in on the right supplier to meet your sourcing needs. 1). Check out various product manufacturers   Use various sourcing tools to get an overview of the options available in the market. An internet search on sites like Global Sources, Alibaba, etc. can generate great sourcing leads on reliable suppliers. Sourcing magazines & trade shows are also vast sources of information on wholesale distributors, manufacturers and suppliers of products. While social media cannot be used in isolation to identify suppliers or for product sourcing, it can be very useful to get feedback on particular suppliers. 2). Short-list suppliers Visiting…

China has emerged as a hot sourcing destination in recent times. A large number of organizations resort to sourcing activities to reduce their production costs. This will give marketers an upper hand as they can sell their products and services at minimal prices when compared to their competitors. There are some key benefits of sourcing from China: 1.    Skilled work force: The workers of the China are aware of the latest trends in technologies and more importantly, how to implement it in their operations. The education system in the China is different from most other countries. It is robust, affordable, and emphasizes professional skills like engineering and science. The labor force of the China is more and more versed in the technology development. This is indeed a major advantage for marketers as they can get access to the skilled workforce at lower rates.  2.    Emerging labor market: This is another factor that is intriguing for marketers to…

Many importers don’t have the expertise, or the time, to find and manage China manufacturing partners. They typically need help from a sourcing agent to handle these tasks: ·       Identifying, screening, and qualifying new suppliers; ·       Help in developing new products/styles with suppliers; ·       Ongoing management of the supplier relationships (communication, quality control, shipments follow-up). What are the most common mistakes to avoid when evaluating sourcing agents and working with them? 1. Unreasonable expectations Even the best sourcing agent will have a hard time getting you low prices, on-time shipments, and consistently great quality. If someone promises this to you, you are not talking to a professional. Know what is most important to you, and plan accordingly. For example, if you absolutely need on-time and high-quality products, then you cannot work with the cheapest manufacturers on the market. 2. Not clarifying the sourcing agent’s responsibility Let’s say you work with a third-party service provider that takes care of the…

When your start your business of importing from china, it is advisable to find a sourcing agent to help you, but it is not easy. You may not know how and where to find a good sourcing agent. How to sign a contract with the agent? How to pay the sourcing agent? How can you tell if they are trustworthy?  Here are some tips for selecting a sourcing agent: 1. Trust is everything I think you would agree with me that to work with an agent, trust is important. I would rather use a reliable and trustworthy but mediocre agent than someone who is capable but not reliable. Ideally, you need someone who is competent and reliable. How can you tell if your agent or representative in China is trustworthy? In many cases, first impressions can misguide you. You can do some online research to see if there are any comments…

The best way to reduce the likelihood of having problems with overseas suppliers is to visit them, especially before you place your first big order. As China is so far away and so different from western world, many new businessmen feel daunting for the first sourcing trip to China. Here are some tips. 1). Locate where your product is supplied China is massive and you are sure to lose track unless you have all your products listed and suppliers located in advance. Coming prepared will save a lot of your sourcing time and keep you from getting distracted.  2). Use a sourcing agent  You are sure to find multiple suppliers in China selling the same product at different prices. This makes it necessary to use sourcing agents who can best accommodate your needs to make sure that you crack the best deals at rock bottom rates. 3). Don’t fall for counterfeit products In…