Supply Chain

After several painful lessons of trying to “buy direct”, are you planning to hire a sourcing company for your business? If that is the case, then you are making a good choice. But, are you going to hire one just because you have heard how they can benefit you? You might end up selecting a wrong agency which cannot stand up to your expectations. However, there is always a way to determine what is right for you. So, here are a few things you should consider whilst you compare different sourcing companies. 1). Knowledge: A sourcing company needs to be acknowledged about every product they deal with. It will not be able to perform the tasks without proper knowledge. It is especially difficult for a sourcing company to move ahead with their work when their supposed specialization is technical items, such as mechanical or electrical products. Take this for an instance; your business…

Product sourcing delivers to your sustainable value for your procurement from any country other than your own. You will get help from the services of product outsourcing to procure good strategies, giving you a position of competitive advantage.  Sourcing agents help you to get quality control, shipping management or price negotiation. Not only the benefits, this gives you a chance to get services across geopolitical boundaries. Agents bring together the comprehensive offers with specifications of the product details. You get a good strategy for cost effectiveness and the best end-to-end services.  1. Work Relationships First of all, know the culture and the ways of the country you want to outsource from. Knowing the laws will give you an extra benefit if you want to sell to them. Buying from that country will give you a head start about learning how to trade, before you proceed with the sales afterwards. Understand well about…

There are some good ways to optimize your suppliy chain, expecially if you are a small or medium buyer, or you are new to importing business. 1. Develop A Supply Chain Strategy In most businesses, they consider supply chain management an independent function in the company, and that it is not involved in general business strategizing. This is ludicrous. The supply chain is one of, if not the key, factor in global business success. Companies that treat their supply chain like an extension and not a primary function of the company tend to struggle more with success. Implement the supply chain into the business strategies and goals to better leverage it to achieve determined metrics. 2. Design the Supply Chain Network As much as including the supply chain into the business strategies determines success, the need to design the supply chain network to operate at an optimal level is paramount. Focus hard on the…

So, you have an amazing idea for a product that you know will do well on the market, but are wondering what the next step is to bring this idea to life. This article will show you how to go from start to finish by explaining the steps to take to go from an idea, to producing in China. Step 1 – Creating Engineer Drawings and a Prototype You need to get this idea made into engineer designs and a prototype. It is crucial you get both done; it can be difficult to manufacture a product without an engineer drawing that has tolerances, material, and finish requirements. You need a prototype so you know your product is functional and looks good. You can do this in China, but it is not easy. Communicating with an engineer in China over different time zones can be difficult enough, but when there is a…

Manufacturing industries and business houses are increasingly relying on global destinations aided by sourcing companies for factor resources. The involvement of these companies is significant considering the global nature of commerce nowadays.  1.Conducts an initial research This is the first stage where you decide what your primary activities are, what are the needs of your clients and who your competitors are. These steps help you to determine your business goals and your position in the market. You and your sourcing partner need to design a business plan to determine the performance measurement system and primary work strategy. 2. Evaluate supplier and market  Your sourcing partner, which offers global sourcing service helps you to make a supplier selection benchmark. When you have the list of criteria, you can make further changes in the sourcing strategy and determine the final cost. Given the fact that you already have information regarding clients and prospective markets,…