Product sourcing is a process to find products or materials that you wish to sell, buying it from the third-party manufacturer, supplier, and online company and reselling it. Basically, it includes researching the market, searching quality products for sourcing, cost calculations, to negotiate with the manufacturers, establishing better quality as well as getting the products to market. When Procurement China will help the company to achieve its tactical and strategic goals, and doing it right!
Companies might have interest in the sourcing agent. In such case, they will rely on agent to find companies they will work with overseas. Hence, job of the sourcing agent’s includes evaluating needs of a company, finding right suppliers, as well as knowing if they can take the orders. They will check factories to confirm if they can meet proper standards. This will include evaluations for addressing ethical concerns such as worries about exploitative labor state or pollution.
What Makes Good Product Sourcing Agent?
Many sellers online are a bit afraid to work with the sourcing agents as they’re afraid to be scammed or their product idea may get stolen. But, the benefits of working with the product sourcing company are so high that it is worth it. However, how will you know if the sourcing agent is good? We will show you some important characteristics that will make the good sourcing agent & red flags you must look for:
Save Money and Time
When it comes to engaging services of the sourcing agent may appear like the extravagance your business cannot afford. However, if your agent is not saving money they are not doing the job rightly. First, the best sourcing agent must be a good negotiator, to ensure you get proper terms that will work for you. Also, they will have very good knowledge about the market & know when costing is very high, or low (case you are sacrificing the quality). From the time-saving perspective, to have somebody handle various aspects of the sourcing operation will be one clear benefit.
Find Specialized Agent
Suppose you are looking to import plenty of different kinds of consumer products, select the sourcing firm that has sourced several daily consumer products for earlier buyers. Suppose you specialize to import some industrial products, find the specialized sourcing agent in a particular industry such as building materials, fabric, medical products and more. Because these agents should have accumulated plenty of good manufacturers in this industry as well as will give you right buying & production advice.
Reduce Importing Risks
For the small businesses, when it comes to transacting with the international suppliers it will be a risk. There’re many things that can go wrong, especially when they can’t oversee production of the items. Furthermore, plenty will get lost just in the translation. Sourcing agents reduce such risk since they will act as a strong connection between the retailer and international supplier.
The product sourcing agent will do a lot of wonders for the eCommerce store. They will ease the company in international importation & reduce risk of communicating with the overseas suppliers.