When sourcing your products from overseas, there are many advantages to be had. However, without the right info, the process can be a tedious one, only ending in frustration. Your overseas supplier must be thoroughly vetted to make sure that they can deliver upon your desires. You should know their payment terms, price quotes, and more. Also, if you are sourcing from a culture that is different from your own, then there are some cultural nuances you must understand. Consider the best product sourcing software solution to help you in simplifying your process.
For example, China’s new year holiday takes place at a different time that the United States new year. During the time of their holiday celebration, many suppliers may be inactive for a month, in some cases. It is important that you know these specific details of your supplier, such as what holidays they observe with time-off. So, you can plan ahead. There are also certain financial and logistical processes you must understand. Here are some tips for finding the right supplier for imports.
Visit the Factory
When working with an overseas supplier, ideally, you want to visit the location of your potential supplier. Have a face-to-face meeting. This will allow for you to see their capabilities for yourself, and properly set your expectations. Check out their factory. Get a close look at how they conduct their business. Any effort that you put into understanding their culture, as it pertains to the business to be carried out, will be greatly appreciated. The goal is to develop a trusted partnership, built on the foundation of trust. While at the factory of your potential supplier, you will get an initial inclination on whether you can trust them, based on how well what the supplier told you, matches with the reality you see in the factory.
Who Are Their Current Partners?
An important thing to know is who else is your supplier supplying for. If they supply for other individuals, bix box retailers, and companies with large volumes, then this can give you a certain level of confidence that your supplier can deliver for you, as well. Do they also sell their own products in a way, or in a market where you will have to compete with them? You don’t want to find yourself in a situation where you are having to compete with the product manufacturer for the sale of the product to customers, unless they have certain minimum retail price requirements that they themselves must also adhere to. For example, no one, including themselves, can sell the product for less than $20.
Consider the best product sourcing software solution to help you in simplifying your process.