With the rise of the internet and e-commerce, consumers today have the convenience of ordering anything they need from the comfort of their couch and get it delivered right at their doorsteps. Online shopping has not only taken over the b2c consumers but lately, b2b consumers are also increasingly adopting the digital means for procurement (commonly referred to as e-procurement). Thanks to Ali Baba and amazon and other popular digital networks, (B2B) e-commerce transactions are expected to reach $1.8 trillion by 2023.
However, despite the convenience and appealing charm, digital networks might not be the best place to find reliable and skilled manufacturers from overseas. Moreover, e-procurement from overseas comes with its own challenges.
At BlinkGlobal, we help our clients connect with the best overseas manufactures and suppliers. In this article, our experts share some important factors to consider if you are using digital channels to source products and materials from overseas.
Buying from Overseas is a Complex Process
There is no debate in saying that finding and working with a supplier from overseas is a complex process that involves a wide range of people, government officials, and other stakeholders with their specific roles and responsibilities. Depending on the products that you are purchasing and the value and volume of your purchase, the complications can increase making the process a lot more complex than hitting a purchase button on Amazon.
Contact Verification can be a Problem
Right vendor selection is the most crucial decision that you need to make when sourcing from overseas. A good supplier not only adds value to your business but also gives you a complete peace of mind by providing excellent service. Getting the right overseas supplier for your business is not easy. Good collaboration and understanding between buyers and suppliers is essential when it comes to efficiently managing your supply chains on a commercially sustainable basis. Many of the Digital b2b marketplaces don’t offer pre-verification leaving you vulnerable to fraud and theft.
Quality assurance remains the biggest concern when it comes to international sourcing as you cannot monitor and manage the manufacturing process in a foreign land. If the supplier compromises on product quality, your whole investment can go down the drain. Quality risks can occur due to serval reasons, the major being lack of communication and misunderstanding. It’s not that online suppliers are some fraudsters ready to rob you but it’s often the lack of communication and unavailability of interpreters that results in unintended consequences.
Partner up with a Sourcing Company
The best strategy is to partner with a sourcing company. An experienced sourcing company like Blink Global has vast experience in dealing with large. We have helped clients get the best products at competitive rates. Our agents also deal with industry-specific suppliers and are masters of creating win-win solutions.