Elksourcing

Any business that wants to reap the benefits of low-cost global markets needs to make a move towards procurement services. But there is a problem to start with. The problem faced by thousands of business owners is a lack of insight. In this article, I’d like to bring some important notes for global procurement process.  1.   Suitable Procurement Location One of the most fundamental decisions of procurement is the location/marketplace/country. Taking this key decision becomes easy with intelligent insights from a procurement service provider. Procurement agency professionals use advanced analytical mechanisms to study potential target markets. The market offering the best conditions and benefits is selected. 2.   Manufacturing (or buy-in) Are you sure that investing in a low-cost market will actually help you make considerable gains? What if better management and some tweaks can make manufacturing more profitable? Once again, this is a decision that should be taken with the help of intelligence…

China is the most prominent place for sourcing of products. With the country’s economy growing stronger, the procurement and sourcing infrastructure is advancing to an even better state. It isn’t hard to find proficient low-cost Chinese suppliers. In order to get it done appropriately, a business needs to create association with the global sourcing companies. Agents from such companies are well-versed regarding the Chinese market, and its latest business model. They are capable of seeking out appropriate suppliers, and negotiating your agreements, as per your requirements. If you still hold second thoughts regarding China sourcing agent, the below mentioned reasons may clear it out. 1. Benefits of Chinese Product Sourcing 1). Quicker Production: We all know that time is of essence. It is even more significant in a business, as it influences the total success of a business and its activities. With the increase in demand, supply should not fall behind,…

So, you have a recurring dream about an innovative new product, or a persistent feeling there is a large need for the product you want to invent and get to market, you want to make it to real.  What are the common practices to turn a new product idea to a marketable product? You’ve got to get it made as a prototype for starters. And what are the necessary steps that must be taken to get you started in the prototyping process? Step 1: Draw your Design The first step in creating your initial product prototype is to create a sketch of your design both as a complete unit and separately, with the individual components. It is likely that you will end up with an entire sketch book of designs as your creative energies flow out onto paper. Being as detailed as possible will make the next steps in the process easier…

As a buyer, you’re likely under pressure to find the best price for goods without sacrificing quality. And understanding a supplier’s capabilities before working with them is key to this objective. Many experienced buyers choose to rely on a dependable third-party QC partner as their “feet on the street” for supplier evaluations. These partners can perform a quality audit on your behalf and provide detailed results, including production capabilities and potential quality issues. Here are a few risks an audit can help you avoid before you place an order with a supplier:  Production and shipping delays due to disorganization All buyers worry about delivery dates. A bargain price or high product quality may be little consolation to customers that don’t receive their good on time. Shipment delays threaten your reputation as a reliable supplier. A late delivery can cause a customer to end their business relationship with you or consider alternative vendors….

Supplier chain is an integral factor in the success of your importing business. They can work like a well-oiled machine, where confidence levels are high, and the quality and delivery of products and services from your suppliers exceeds your expectations. Or they can become a burden to bear, swallow up precious resources and cost your business thousands of dollars in administration and performance management. Like most importers, you probably find yourself in a situation somewhere between these two extremes. But there’s hope when it comes to finding and developing great supplier relationships. Stick to this step-by-step approach, you’ll be reaping the rewards of supplier chain management. 1). Supplier selection Choosing suppliers is crucial to your business. And categorizing your supply base is also vital to making the most of your available resources when managing those suppliers. Importers often consider various criteria for evaluating potential suppliers when beginning their search, such as:  A.   Minimum…

There have been countless articles about China’s reign as factory of the world coming to an end. While it is true that wage increases are making some of China’s lower-end industries, such as textiles, out to low-cost countries such as Viet Nam and Bangladesh, China remains one of the top procurement sources for mid- to high-tier products. Even as some of the lower-end industries move out, there is more to a country’s competitive supply chain than labor costs. China maintains a set of key factors that will continue to make it a competitive exporter even as the economic landscape shifts.  1. High-quality Infrastructure (Especially Export-related Infrastructure): China’s rail and road infrastructure, particularly along the coastal cities, are among the most developed globally. With a history of double-digit investment rate every year in infrastructure, China’s ports complement the rail/road infrastructure. Shanghai long surpassed Singapore as the world’s busiest port and it will be…

Known as the “world factory”, China has become one the most popular sourcing destinations for millions of business startups, shipping cost is important for the success of your business. If you are running the logistics independently, shipping cost should be one of the key factors for you to consider. The more your business relies on the movement of goods, the more your business will benefit from cutting down your shipping cost. As such, it’s very imperative for you to analyze all the possible shipping costs and get the best shipping options for your business. 1). Plan for Product Shipping Everything should be started with a plan. It goes the same with your shipping business when you import from China. An effective shipping plan should embody a clear understanding of the scope of business, quantities involved and the frequency of the shipments. This plan will help you negotiate with the freight forwarders. Route…

As a cast iron cookware importer, it’s your responsibility to protect your customers from hazards and other types of quality defects. And due to the unique properties of the iron alloy, production processes can lead to many different kinds of casting defects. Let’s explore some of the most common defects in cast iron cookware to help you avoid a potential recall and improve your product quality.  1. Pinhole Pinholes are a common casting defect found in all cast iron products, including cookware. These holes are almost always visible to the human eye but don’t appear on the product until after mechanical processing. 2. Sharp flash Sharp flash is generally considered a major or critical defect in cast iron cookware. Flash is commonly seen on post-production, pre-packaged cast iron cookware. This casting defect occurs due to a molding plate issue. Flash can be caused by: an insufficient clamp force, poorly fitted…