Procuring high-quality goods at a reasonable price can be difficult when dealing with overseas suppliers, especially if you’re working with limited time or funds. However, with some careful planning and attention to detail, you can have the best product on the market at an affordable price without paying too much in overhead costs. Here are seven fundamental tips for procuring quality goods in today’s global market that will help you get started right away.
1) Is It Global?
A lot of companies are looking for ways to source their goods globally, but make sure you’re not doing it just because everyone else is. It’s important to make sure your product is suited for a global market, otherwise, you’ll run into problems later on down the line. How can you tell if your product is viable for a global market?
Start by determining what characteristics are important to potential customers in each geographic region. Are they willing to pay more for certain features or attributes? Is there anything that would be culturally off-putting that could prevent them from using or purchasing your product? Once you know what factors matter most, look at how those factors might affect production and delivery costs and compare that data with projected sales and profit margins.
2) Can It Be Certified?
Before you decide to purchase goods, research whether they can be certified to meet internationally recognized standards. Certification is not only helpful when it comes to ensuring that items are safe and reliable, but in some cases, certification is required for export.
Look for standards like ISO 9001 (quality management systems), ISO 14001 (environmental management systems), and OHSAS 18001 (occupational health and safety management). If your product or service uses raw materials or components that can’t be certified in these ways, check with your supplier to see if they have them stored in a warehouse with proper controls until you place an order. This way you won’t run into quality issues further down the line.
3) Does The Supplier Meet Standards?
When you’re dealing with products, especially food products, safety standards are absolutely essential. But there are other factors to consider when evaluating suppliers. Does their material meet your quality standards? Are they capable of filling orders on time? Are they able to meet demand? Being able to answer these questions should be part of any responsible procurement process from procurement companies in USA.
4) Will I Get What I Want?
When shopping for products online, one of your biggest concerns is probably whether or not you’ll get what you want. As technology improves and global supply chains tighten, more consumers are taking advantage of international retailers to find cheaper prices. However, there are some challenges that come with buying overseas.
5) How Much Will It Cost?
Before you buy anything, it’s important to do some research into whether or not your customer base is interested in that type of product. You might find that while yes, what you’re looking for is good quality, no one will pay more than $30 for it.
Remember that before launching into a project—you could end up wasting your time and money on something nobody wants. Take a look at global procurement trends to ensure you stay current with current trends in your industry—that way you can make sure whatever item you plan on procuring meets demands across all demographics.
6) Do I Need a Warranty?
When you’re buying an item for your business, be sure to examine it thoroughly. Look for signs of defects or poor craftsmanship that may indicate it isn’t worth purchasing. If you notice an issue that seems like it could become a larger problem in the future, ask if there is a warranty you can purchase with your product.
The manufacturer should offer some sort of guarantee for products made out of durable materials; if they don’t have one available, take note of how long it would take to replace your product should something go wrong. Remember: If something looks fishy about a product or its manufacturer, look elsewhere—you’ll probably find better quality somewhere else anyway.
7) Is There a Reputation Risk Involved?
Anytime you work with a new vendor, there’s some element of risk involved. However, it is possible to mitigate that risk by thoroughly researching any business before forming an official relationship. To get started, talk to other businesses in your industry and ask for recommendations from trusted vendors.
If a China sourcing company has a bad reputation in its local market—or in yours—that can be a big red flag. Online reviews are another useful tool when vetting potential vendors. Don’t just look at aggregators, search online forums related to your business and see what people have to say about specific companies.