Sourcing is an important business function. It is just as important as marketing or even accounting. Therefore, it needs to be done in the best manner possible. Most companies usually decide to source goods from Asian countries. There are many long term and short term benefits that are associated with that strategy. Sourcing Asia is a good idea. Already, thousands of Western companies are already doing that because obtaining products from a Western supplier is an expensive affair because of the high cost of labor that is associated with European and North American nations.
For a long time, Asia has been in the news for all the good reasons. Some Asian countries have had record breaking economic growth. South Korea went from being an aid dependent nation to becoming an industrial superpower in less than three decades. There are a number of Asian countries where materials can be sourced from. One should identity the ideal Asian country.
According to many top economists of Ivy League institutions, China is simply the factory of the world. The Miracle by the Yangtze River is a story that most scholars usually like to talk about. Almost every product is produced in China. The Chinese produce consumer goods. They also make business and industrial goods. From cars to baby products, they are all made in China.
The good thing about procuring from China is that one will obtain products at a cheaper price. That is because the labor costs in China are very low. Also, there is already an infrastructure that one can take advantage of. However, with China, there exists a language barrier. One can decide to source from India which is an English speaking country.
A manufacturer needs different kinds of raw materials. Producing a product can involve sourcing materials from many countries. Most likely, a good deal of the materials needed to make a certain product can be sourced from Asian countries. Most manufacturers end up obtaining their materials from three countries: China, India and South Korea. These are the Asian tigers.
An e-commerce merchant will care a lot about the price per unit of the good that he is sourcing. That is because he is in business and the primary purpose of having a business in the first place is to earn a profit at the end of the day. On the other hand, manufacturers want to obtain raw materials at pocket friendly prices.
The most important thing to consider when it comes to sourcing goods is the cost. There is the need to find an affordable supplier. The price that has been quoted is not always final. There is always room for negotiation. Thus, one needs to bargain effectively so that to get a discount at the end of the day.
There are many places where one can source products from. In the modern world, most manufacturers usually source from low cost countries. Most of these nations are found in Asia and Africa. Before undertaking the whole affair, there is the need to come up with a solid and smart plan. One should subsequently implement all the goals that have been listed on the plan.
For a long time, Asia has been in the news for all the good reasons. Some Asian countries have had record breaking economic growth. South Korea went from being an aid dependent nation to becoming an industrial superpower in less than three decades. There are a number of Asian countries where materials can be sourced from. One should identity the ideal Asian country.
According to many top economists of Ivy League institutions, China is simply the factory of the world. The Miracle by the Yangtze River is a story that most scholars usually like to talk about. Almost every product is produced in China. The Chinese produce consumer goods. They also make business and industrial goods. From cars to baby products, they are all made in China.
The good thing about procuring from China is that one will obtain products at a cheaper price. That is because the labor costs in China are very low. Also, there is already an infrastructure that one can take advantage of. However, with China, there exists a language barrier. One can decide to source from India which is an English speaking country.
A manufacturer needs different kinds of raw materials. Producing a product can involve sourcing materials from many countries. Most likely, a good deal of the materials needed to make a certain product can be sourced from Asian countries. Most manufacturers end up obtaining their materials from three countries: China, India and South Korea. These are the Asian tigers.
An e-commerce merchant will care a lot about the price per unit of the good that he is sourcing. That is because he is in business and the primary purpose of having a business in the first place is to earn a profit at the end of the day. On the other hand, manufacturers want to obtain raw materials at pocket friendly prices.
The most important thing to consider when it comes to sourcing goods is the cost. There is the need to find an affordable supplier. The price that has been quoted is not always final. There is always room for negotiation. Thus, one needs to bargain effectively so that to get a discount at the end of the day.
There are many places where one can source products from. In the modern world, most manufacturers usually source from low cost countries. Most of these nations are found in Asia and Africa. Before undertaking the whole affair, there is the need to come up with a solid and smart plan. One should subsequently implement all the goals that have been listed on the plan.
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