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AsianProducts Sourcing Meetings |
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One of the biggest trends in business today is global sourcing. In 200 4 , the United States alone sourced over US $1. 6 |
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trillion in goods from low-cost suppliers around the globe. Of course, the biggest reason for global sourcing is the cost |
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savings; which can be significant. Most companies report an average savings of up to 30% when they begin global |
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sourcing. |
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Overall, global sourcing is not as simple as just moving production from a higher-cost country to a lower-cost country like |
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China or India . While companies can save money through global sourcing activities, they must also take the time to |
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evaluate the big picture that includes multiple factors such as shipping costs, tariffs, and potential risks. They must also be |
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willing to do their homework on other cultures and to expand their knowledge to include the different Import / Export and |
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Trading Codes stipulated by the different trading organizations , Incoterms, and other regulations so that they can carry |
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out their offshore operations smoothly and cost-effectively. |
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While sourcing to other countries has been an increasingly popular way of reducing costs for businesses, some |
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companies fail to make that leap successfully simply because they don't know how to deal with individuals from other |
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countries. Doing business with in Asia can be particularly challenging for a business that is not prepared to deal with a |
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change in cultures and values. This challenge combined with limited resources makes for an expensive sourcing |
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meeting. Although most buyers attend international trade shows and fairs, only a small portion of the supply industry |
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attend these fairs. And even if they attend, in most cases buyers still have to set up face-to-face meetings with suppliers |
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and negotiate terms and conditions. |
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One of the biggest obstacles to overcome is the introduction. In Asian countries, who a person knows can ensure that they |
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receive the attention of their desired audience. However, getting those connections can be difficult. AsianProducts have |
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been assisting buyers from around the globe with their introductions and negotiations with suppliers. |
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Of course doing business in abroad will eventually require a trip to meet up your supply partners. AsianProducts is |
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standing by to assist you with conducting sourcing meetings at our regional offices with suppliers pre-qualified to your |
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requirements. AsianProducts will also act as relationship manager on your behalf, act as translator and as well as advise |
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you on how to pursue business contracts with Asian suppliers. |
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By a ssisting Buyers with sourcing meetings AsianProducts will add to your profitability and cut down on time spent |
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searching and negotiating with suitable suppliers. |
