• Elksourcing:3 Mistakes You Should Avoid for Sourcing Products from China

    For being successful in China sourcing, you should have clear understandings about the sourcing process and realistic expectations. Here, the most common mistakes for sourcing products from China are listed.  1). Absence strategic management in case of China sourcing: The companies, just after starting sourcing from China, usually make a lot of mistakes. Some of the most common mistakes, made by these companies include- lack of adequate research, the right strategy, and benchmarking process. It restricts businesses from setting the right product quality targets. Usually, the businesses source products from the Chinese market, mainly because of the cost benefits. However, according to the professionals, involved with sourcing, it shifts the focus from purchasing quality products to saving money. The commonly made mistakes of other businesses for sourcing Chinese products can be broadly classified into the following categories- A.  Not having a proper strategy B.  Not having any properly defined standard for the suppliers C.  Lack…

  • Elksourcing:How to Manage Risks when Sourcing from China?

    Sourcing from China is with full of opportunities, however, with every opportunity there is always an element of risk and China is no exception. Much of the risk can be managed and here we will outline some of the most common mistakes that people make when sourcing products, so that you can avoid making them. (1) Not defining specs This may sound obvious, but a clear definition of your product is absolutely critical. Whether the product is cardboard packaging, homewares or sports equipment, a comprehensive product specification is the first step in ensuring you end up with a supplier and product that you are happy with. The more detail you provide a supplier with, the more accurate the end product will be. (2) Not doing enough due diligence Many people don’t investigate potential suppliers in enough detail. This can be a costly mistake as trade fairs, emails and phone calls can…

  • Elksourcing:Pros and Cons of Sourcing from China

    Businesses in the west have always been on the lookout for profitable product sourcing opportunities. Sourcing and global procurement used to be concepts that just big businesses considered. However, now even those who are just starting out look towards developing countries to cope up with high material, labor, infrastructure and energy costs. Pros of Sourcing from the China 1). Lower expenses– This is one of the most obvious advantages of Chinese product sourcing. If the right strategies are followed, a business will definitely witness significant popularity. Some of the most significant expenses one can save are evident from the start. From better supplier rates, to lower labor, shipping and duties, business owners stand to gain a lot. Hence, sourcing in China can give you better value than manufacturing domestically.  2). Quality of service– Many Chinese suppliers are renowned for the quality of service they offer. They are capable of handling huge production volumes,…

  • Elksourcing:Common Mistakes to Avoid for Sourcing from China

    Chinese economy presents lucrative business opportunities for entrepreneurs in United States and other foreign markets. While there are some risks to sourcing goods from China, you can manage and reduce these risks with a smart and methodical approach. Below are the common mistakes to avoid for sourcing from China: 1. Failing to define a sourcing strategy. When sourcing goods from China, you must have a well-defined sourcing strategy, this includes conducting proper due diligence about who you are dealing with, including intermediaries and manufacturers. You need to know what types of products you need, how much you can sell those products, how much you can afford to spend on those products, and by what date you need the products. You should also have a plan in place for quality control. An experienced China sourcing agent can help you put together a strategy for sourcing goods in China. 2. Failing to define quality…

  • Elksourcing:Good Practices for Sourcing from China

    Here are some good step by step tips I learned from my experiences in import and export business. Step 1: Confirm the Products Before sourcing from China, you need to do your homework and decide the products you are after, then, you will need to focus on the main manufacturing areas in China. The supply chain at Yangtze River Delta area specializes on manufacturing small commodities, mechanical equipment, machining parts, auto parts, small tools, die casting parts, and sand-casting parts, however, manufacturers at Pearl River Delta area specializes on electronic products, plastic parts, stainless steel products and home appliances. A list of outsourcing products helps to find the right suppliers. Step 2: Get the Forecast of Volume Both the unit price and shipping cost depend on the volume. If you want to purchase products from China, you should match the requirement of Minimum Order Quantity (MOQ). Also, it is high cost per unit to ship the product…

  • Elksourcing:6 Tips for Beginners about Sourcing from China

    Sourcing From China is not a new thing, but in this post, we want to focus on providing China sourcing beginners some valuable tips on what is a very challenging but often very rewarding journey. So, by definition a source is “a place, person, or thing from which something comes or can be obtained”. It makes sense to start there. Spending time and energy on getting the best sources is a worthwhile venture. In relation to having products manufactured and importing them from China it’s an incredibly important part. A good beginning really is half the work where choosing wisely is very important in lowering your risk. 1. Finding supplier Start by signing up as a free member to alibaba.com, globalsources.com and made in china. Familiarize yourself with these platforms which are user friendly but do contain a few more bells and whistles than before. The number 1 important thing to learn about…

  • Elksourcing:5 Easy Steps to Sourcing from China

    Many people have learned a lot from magazines offering advice or a commentary about the do’s and don’ts of sourcing products from China. Some of them are effective, some of them are simply based on generalizations that may or may not be true across the board. As a Chinese working with different factories and with importing companies around the world, I’d like to share some inputs based on my real experience on solving problems for both suppliers and customers. I believe it’s quite useful no matter you’re a China sourcing veteran or a freshman. Step 1- Search from the internet, sourcing magazines or trade fairs There are many potential suppliers from the biggest search engines such as Google. You can also get good resources from the sourcing platforms like Alibaba, Global Sources, Made-in-China, etc. Short list a few suppliers for the items you’re going to source. There are so many big international…

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