Tag: Optimize Supply Chain

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Common Problems When Finding Overseas Suppliers Online

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 Risks:

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.
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Things to check when finalizing a sourcing company

Sourcing goods from overseas is always lucrative and cheap. However, it is not as easy as it sounds. Business owners have to be always on the lookout for possible phishers and avoid being victims of fraud. Always go for the specified professionals when sourcing goods from overseas.  Whenever looking for international sourcing it is always best to contact multiple sourcing companies and get a transparent quotation. The quotations and services offered by various sourcing companies vary from service to service. Never rely on the word of a single person and always keep your options open. We at BlinkGlobal, provide complete end-to-end sourcing solutions for businesses of all types. Below we have summed up our services which are included in any product sourcing. Always remain vigilant and make sure that the sourcing company you are dealing with offers these services.

Find Factories

The first part of BlinkGlobal sourcing services is to find factories. we can tell from experience that it’s always easy and reliable if you have your onsite native agent in the country from where products are sourced. When an order is received, we dedicate our procurement agent to find the best local factories and get the best quotation.

Site Visits

Our procurement agents act as your eyes and ears in a foreign land. The agent will do site visits and collect information to minimize potential risks. These site visits are crucial in finding a reliable factory. Although various sourcing companies claim that they verify the factories through their online platform, but the physical site visit is of utmost importance to know the actual production of a factory.

Audits

BlinkGlobal believes in complete transparency and for this reason, we offer third-party audits to fully eliminate any risk of fraud. Our agents go the extra mile to secure your investment and make sure that the product is up to expectations.

Competitive Analysis

Before selecting any factory, our competitive analysis will show you the factories with their quotations, product quality, and delivery timeline. This helps us and our customers to make intelligent decisions based on the report.

Production Follow up

Our agents are always on their toes making sure that the production is going as promised. Our production follow-up keeps the factories in check. As they are aware that the buyer is showing due diligence and keeping a constant check. This results in timely production with no hick-ups.

Quality Assurance

Once the first batch of production is finalized, our procurement agents perform a thorough quality assurance check. This helps us to eliminate any bad quality production and re-enforce the need for the highest quality products. Once all the production is finalized, the product quality is again checked randomly to eliminate any substandard production.

Shipping Consultancy

Getting your desired products produced by a foreign factory is one aspect of international sourcing. The other part of it is securely getting those products shipped to the United States. BlinkGlobal offers full shipping consultancy to ease the burden of our customers. With our broad links in most of the shipping ports around the world, we can get products cleared from customs and get them shipped on a priority basis through sea or air freight.

Product Delivery 

The most significant thing about BlinkGlobal is that we take ownership of our customers’ products. We bear the hassle and get the products delivered to your doorstep. Our customers do not have to worry about custom clearances and shipping delays.  The next time when you are considering getting products sourced internationally, do remember to check whether the sourcing company offers you these services or not.
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Benefits of Effectively Monitored Supply Chains

Information is to the supply chain is what blood is to the cardiovascular system. Timely and efficient circulation of information is a sign of a healthy supply chain whereas, clogging at any point can prove to be fatal for the entire system. Supply chain managers have to be proactive and informed to help them make decisions that can impact the company’s bottom line, whereas an uninformed manager can do more harm than good to your businesses. From finding the right suppliers to tracking the goods throughout logistics to custom clearance at borders and beyond, real-time insight into the supply pipeline can be the saving grace for planners and managers in leveraging efficiency and productivity. The rapid advancements in automation, enterprise risk management programs, sophisticated communication networks, and single-sourcing have allowed organizations to increase efficiency and streamline their supply chains. Data analytics and predictive analysis can help you forecast potential hazards so that you are always prepared to tackle any disruptions.    The value and importance of real-time monitoring in today’s globally-connected supply chain cannot be understated. At BlinkGlobal, we have experts that have a deep understanding of global supply chains. In this article, we are sharing 4 tips to effectively monitor your supply chain.

Supply Chain Management Planning:

The importance of creating a comprehensive and long-term supply chain strategy is understood by small and large companies alike. However, many companies struggle with the complex patterns of shipping, transportation, production, warehousing, inventory management, and other key elements of the supply chain. For startups and companies with low revenue, putting up a supply chain infrastructure may mean comprising on other areas such as marketing, or packaging, etc. At the heart of every supply chain plan, there are four main factors – integration, operations, purchasing, and distribution.  Create a proper plan that includes a detailed schedule of purchasing, production, cargo volume, delivery, and warehousing at both ends.

Real-Time Inventory Counts:

Many companies often overlook the importance of real-time inventory counts. This can help you track your manufacturing and sales in real-time, and spot potential losses and leakages. This can also help you prepare for the future and predict if your current stock is optimized for future needs. Having real-time information at hand, you’ll be able to produce and deliver the right quantity of products that can easily cater to your customer base rather than overproduction or underproduction that can cause your troubles.

Use Technologies To Your Advantage:

There is no debate in saying that the new cutting-edge technologies have made it easy to monitor metrics and maintain transparency in the supply chain. Modern supply chain software and solutions can help you automate the processes and properly organize the flow of goods. 

Use the Power of Data:

Data has revolutionized almost all fields of business, and supply chain is one of them. Businesses can use the power of data to optimize routing, streamline factory operations, and ensure transparency across the entire supply chain. Data is the most valuable asset and in order to leverage the maximum power of data, make sure you have it organized in a single, centralized, and well-organized repository.

About BlinkGlobal

Your Global Sourcing Partner. With our deep understanding of global sourcing, we supply B2B industrial and consumer products with centralized procurement and high delivery precision.
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BlinkGlobal Leading The Cashew Market From The Front

Globally Sourcing Cashews in Bulk from Africa for Finishers & Wholesalers | BlinkGlobal

“We make it look so easy – because we make it easy for you” The Covid-19 Pandemic has shifted the global sourcing trends and changed the whole supply & demand balance. Various immune-boosting food products have seen a major surge in demand. People across the globe are looking for healthy alternatives to reduce their chances of getting infected by boosting their immune system. Herbs, spices, nuts, seeds, probiotics, and food supplements are on top of the food chain now. Due to the sudden increase in demand, it’s getting harder every day to get access to good quality immune boosting products creating a bottleneck.

Immune-Boosting Cashews

Like most nuts, Cashew kernels are delicious for snacking on and are rich in protein, dietary fibre, antioxidants, and monounsaturated fat. Cashews require a frost-free tropical climate to grow. This limits the plantation in the US to the extreme South; allowing only Florida, Hawaii, and Puerto Rico to harvest cashews. This puts all the demand pressure on US imports.

One-Stop-Shop Sourcing Solutions

BlinkGlobal is an international sourcing company that strictly adheres to FDA regulations. We specialize in dry fruits and nuts sourcing. Although cashew imports can be a sticky process with lots of government requirements and regulations. However, BlinkGlobal streamlines the process for the peace of mind of wholesalers. We keep tabs on the global trends and always source the best products available in the market. 

Only The Best Cashews

The best quality cashew kernels are harvested in Vietnam, India, and African countries like Nigeria. BlinkGlobal has local onsite agents who procure cashews directly from growers after physical inspection and quality assurance. This allows us to remove the middlemen involved, and get the best quality at highly affordable rates.

Hassle-Free Freight-On-Board Services

What makes BlinkGlobal different from other herds of suppliers is that on top of our affordable rates, we also offer Freight-On-Board services. This means that the wholesalers or finishers don’t have to worry about all the risks of shipping regulations and hurdles associated with it. Any loss or delay in shipment remains BlinkGlobal’s problem until it is delivered to your doorstep. 

BlinkGlobal’s Vast Shipping Network

Our large infrastructure and shipping network allows us to make international sourcing look so easy. We have access to international shipping companies and storage hangers all across the major ports. We optimize the processing time and work our way through the shipping chain to deliver your products as soon as possible.

Raw Cashews & Salted Cashews

BlinkGlobal can source raw cashews as well as the finished products. For salted cashews, our shipments can make a pitstop at our finishers in India & Vietnam to roast and salt the cashews. The finished product is then safely shipped again your way. Almost 60% of our finishers are located in Vietnam.

Harvesters 

Cashew harvesters do not have to worry about any hassle related to how they are going to sell their raw products. BlinkGlobal’s sourcing model allows us to get directly in touch with harvesters and source their good quality cashew kernels with direct cash payments.

Finishers

Cashew kernel finishers usually do not have a big infrastructure that allows them to buy, finish, and sell the kernels all alone. BlinkGlobal provides support at every level. We source the raw cashew kernels and get them delivered to finishers so they don’t have to worry about sourcing nuts.

Wholesalers

BlinkGlobal has access to global cashew harvesters and finishers that makes the wholesalers’ job easier. We can provide direct access to bulk quantity cashew nuts. We source internationally and deliver door-to-door to retailers, wholesalers, and distributors. Let’s Get Started!
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Ensuring Supply Chain Transparency – Important Things to Consider

As consumers become more informed, educated, and conscious, there is an immense on companies to ensure that they comply with ethics and uphold transparency and human values. Consumers today care a great deal about sustainability, environment, animal rights, corruption, and labor exploitation, which is why it is important for companies to conduct a thorough assessment of their suppliers and vendors to ensure that compliance practices are being adopted and upheld and by all the parties involved. This also helps companies project a positive brand image and contribute to developing a better business environment. In order to protect your company’s reputation, it is important for businesses to ensure accountability and open communication across the entire supply chain. At BlinkGlobal, we provide international sourcing and supply chain management solutions to companies across the United States. In this article, our experts share important things to consider to ensure transparency in your supply chains.

Identify Standards

Developing a strong policy that ensures the protection of workers, minorities, the underprivileged, the environment, and animals is crucial for supply chain transparency. Get all the important stakeholders onboard and decide on certain “red flags” for suppliers. It is also a good practice to make all these commitments public so that your consumers know that you adhere to ethical business practices. A strong policy in place also helps you make informed decisions to screen suppliers that fit with the ethical business culture and practices.

Increase your Supply Chain Visibility

The term supply chain visibility refers to keeping tabs on what’s going on at all levels of your supply chains. Supply chain visibility is an organization’s ability to track and trace the entire process starting from the procurement raw of materials and components to the distribution of finalized products to end consumers. Supply chain visibility is not only crucial to maximizing your bottom line as it helps you anticipate disruptions and spot potential revenue leakages but also helps you ensure transparency and compliance at all levels of supply chains. Companies must consider making this information public and publish the names and addresses of their suppliers.

Initiate audits and remediation

Audits are extremely important as they help you identify if a supplier not complying with ethical practices. Audits must be conducted regularly as they help you make informed and effective decisions. Researches indicate that an increased amount of audit data leads to a decrease in incidents of non-compliance. Companies and suppliers should consider third-party audits as they provide detailed and impartial reports. The companies must also decide on how to work with suppliers that fail to uphold these obligations.

Engage and collaborate

Companies must also consider engaging and collaborating with NGOs, unions, civil society, government departments, animal rights organizations, and environment agencies to tackle all social issues across the supply chain. The communications department must be set up to collaborate with these agencies and stakeholders must be taken in confidence whenever there is a breach.  

About BlinkGlobal

Your Global Sourcing Partner. With our deep understanding of global sourcing, we supply B2B industrial and consumer products with centralized procurement and high delivery precision.
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5 Tips to forge a long-term Relationship with Your Suppliers

The 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 complete peace of mind by providing excellent customer service. However, the problem with many businesses is that they often ignore the supplier side and at times become too stringent and demanding which ends up in losing a quality supplier. Getting the right supplier for your business is not easy. Good collaboration and understanding between buyers and suppliers are essential to efficiently manage your supply chains on a commercially sustainable basis. If you have a healthy relationship with your supplier, you are more likely to benefit from a dedicated service, minimum MOQS, preferential pricing, and special terms. Whereas, cooperation failures can have devastating effects on your supply chain. In worst-case scenarios, this can even lead to disruptions, price fluctuations, and quality problems. In this article, our experts share some tips that will help you establish a long-lasting relationship with your supplier.

Bring Value to Your Suppliers

Buyer and supplier is a two-way relationship. If a supplier is bringing value to your business, you should also help them out and create more opportunities for them. A good buyer-supplier relationship is not just based on financial transactions but also on trust, value, and goodwill. Make the suppliers feel a part of your business and provide them the opportunity to expand into new markets with your referrals and connections.  

Timely Payment is the Key

For establishing a relationship based on the value of trust and grace, timely payment of the bills is necessary.  Timely payment gives the supplier security, that you are a reliable customer and are easy to work with. To establish credibility, send an advance amount for your orders. However, do not pay for everything upfront. If you are unable to settle the payments on time, inform your supplier about the situation, and get a new date from them.

Communicate More Often

Once a supplier is on board, make sure there is no communication gap. Talk to their representative regularly, tell them about your expectations, and listen to their expectations and reservations. Deploy a proactive member of your team on the communication front. Talk to the supplier’s engineers, production officers, and managers. Language can often be an issue when buying overseas so make sure that both parties (you and the supplier) can easily understand each other well.

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 overseas suppliers. 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.
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Air Freight Vs Ocean Freight – Choose the Right Mode of Transportation

When you decide to source from overseas, choosing between airfreight and ocean freight is an important decision that you have to make very wisely as it greatly affects the optimization and profitability of the entire sourcing process. Both solutions offer a myriad of advantages and disadvantages and the right solution is something subjective to your needs and priorities. At BlinkGlobal, we offer a wide range of transportation solutions with procurement to our clients. Depending on the destination, goods consigned to a foreign market can be transported by road, rail, air, sea, inland, waterways, or a combination of any of these. In this article, our experts share their knowledge so that you make the best decision for your shipment in the given circumstances.

Cost Comparison:

For shipment over 100 lbs, ocean freight is a wise choice. It is the cheapest and the best option as shipping by sea scale well. For instance, a shipment of 100lb might cost you let’s say 100$, a shipment weighing 1000lb might cost you only 200$ making it the best option for transporting in bulk. Contrary to ocean freight, air freight can be very expensive. In certain cases, it can get 10 times to 100 times more expensive than maritime transport. Airfreight is regarded as the costliest mode of shipping. Airfreight rates are so high that it is not feasible for low-value products.

Time:

Shipping via oceans may take months, particularly if you choose LCL (Limited Container Load). LCL shipping requires a longer time. The reason is pretty straightforward. Your shipment will wait at the loading port until it finds consolidation partners. This will be again required at the destination port. FCL (Full Container Load) shipment is faster. The shipment will be sealed by the original supplier. The entire shipment will be loaded and transported directly to your final destination. Time is the most important factor why many businesses decide to choose air freight over sea freight. However, air traffic can also be affected by adverse weather conditions, so you must always be prepared for unexpected delays.

Airfreight and the environment

When it comes to reducing our ecological footprint, sea freight almost always wins the battle over air freight. This is why you should pick your transportation mode wisely based on what type of goods you need to ship, to and from what destinations, and what your priorities are.

Customs Clearance

Custom clearance at seaports is way less complicated compared to airports. A good freighting partner such as Blink Sourcing will make sure that you meet all the legalities and have adequate clearance documents and necessary fees have been paid beforehand. Meeting all these simple prereqs will ensure a smooth passage of goods from the port authorities.   

About BlinkGlobal

Your Global Sourcing Partner. With our deep understanding of global sourcing, we supply B2B industrial and consumer products with centralized procurement and high delivery precision
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6 Effective Tips for Effective Logistics Management

Logistics is one of the most crucial components of supply chain management. Logistics is often seen as a blueprint of the supply chain as it involves the complex pattern of shipping, transportation, inventory management, production, warehousing, and every other element involved in the supply chain. Optimal logistics management can help companies save time and money and build a strong reputation by delivering strong customer service. However, managing your logistics efficiently can be a tricky task. It requires a lot of time and expertise to ensure that your logistics is optimized for quality control and timely delivery. At BlinkGlobal, we help companies manage their logistics efficiently through centralized procurement and risk mitigation. In this article our experts have some tips and tricks to help you manage your logistics effectively and increase your bottom line.

  1.   Proper Planning:

Small and large enterprises understand the importance of proper logistics planning alike. However, the problem with small businesses is that when it comes to creating a comprehensive logistics plan, they often fail to guard their logistics against fluctuations which can result in increased costs and delayed deliveries. At the heart of every logistics plan, there are three main factors – time, transportation, and cost.  Create a proper plan that includes a detailed schedule of purchasing, production, cargo volume, delivery, and warehousing at both ends. The planning should aim at minimizing the cost while getting maximum work done in the minimum possible time.

  1.   Use Technologies To Your Advantage:

There is no debate in saying that the new cutting-edge technologies have made it easy to monitor metrics and maintain transparency. Modern logistics software and tools can help you automate the processes and properly organize the flow of goods.   Choosing the right logistics software can be tricky. Here is what to look for in digital logistics.
  •         Enterprise Resource Planning
  •         Integrated SCM Suites
  •         Warehouse Management System
  •         Manage Transportation Costs
  •         Multi-Client Architecture
  •         Costing and Invoicing Control
  •         Client Web Portals
  •         Vehicle and driver tracking on-the-go
  •         Apps with multi-lingual support
 

  1.       Use the Power of Data:

Data has revolutionized almost all fields of business, and logistics analytics is one of them. Businesses can use the power of data to optimize routing, streamline factory operations, and ensure transparency across the entire supply chain. This is beneficial for both logistics and shipping companies. Data is the most valuable asset, especially in any organization. In order to leverage the maximum power of data, make sure you have it organized in a single, centralized, and well-organized repository.

  1.       Develop Risk Contingency Plans:

Logistics is always vulnerable to risks and disruptions. These risks can be external such as geo-political or natural risks, and there are also internal risks like disruptions in manufacturing and financial risks. For effective logistics management, it is important to prepare for the financial and reputational impact of possible disruptions and develop mitigation contingency plans that will help you reduce the impact of any disruptive event. It is also important for retailers to have a logistics contingency plan.

  1.   Choose your Transportation Mode Wisely

Choosing the right mode of transportation and equipment can help you reduce shipping and logistics costs. Depending on the delivery time, the destination, and your budget, the goods can be transported by road, rail, air, sea, inland, waterways or a combination of any of these. When deciding which mode of transport to use, the following factors should be taken into consideration.  
  •         Cost of Service
  •         Speed of Transport
  •         Flexibility
  •         Regularity of Service
  •         Safety
  •         Nature of Commodity
 

  1.   Partner Up With a Logistics Company:

The upfront cost to establish an efficient inventory management department may require hundreds and thousands of dollars. For startups and companies with low revenue, putting up an inventory management infrastructure may mean comprising on other areas such as marketing, or packaging etc. 3PL partners have already invested in infrastructure development that provides the most cost-effective solutions. Moreover, they have expertise, knowledge and the skill to optimize transportation, reduce operational costs, and provide better inventory management.

About Blink Global

Your Global Sourcing Partner. With our deep understanding of global sourcing, we supply B2B industrial and consumer products with centralized procurement and high delivery precision
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5 Reasons Why You Should Start Sourcing Products from India

Studies indicate that the Indian Diaspora in the United States makes up to 1% of the entire US population. The contributions of Indian Americans in shaping the United States and making it a great country are also innumerable. The two countries also enjoy a cordial relationship. The US remained India’s top trading partner for the second consecutive fiscal in 2019-20, which shows increasing economic ties between the two countries. Indian products have gained immense popularity in the United States and the demand for some particular Indian Products is also increasing rapidly. At BlinkGlobal, we have local agents in India that help our clients get the best products at the most affordable rates. Due to certain competitive reasons, India is a better sourcing choice compared to other Asian countries. In this article, we are shedding some light on the benefits that sourcing from India has to offer.  
  1.       India is now a Leading Supplier of Sustainable Textiles
Over the past couple of years, India’s production of eco-friendly and sustainable products particularly in textiles and apparel has boomed. India is also the largest producer of organic cotton and has over 1,254 Global Organic Textile Standard (GOTS) certified facilities. Since the “Green Movement” is on the rise and customers today want sustainable products, Indian suppliers can help you comply with eco-friendly policies and ethics.
  1.       Production Capabilities:
Another great thing that makes India a competitive sourcing choice is the strong technical and engineering capabilities of its suppliers. Indian engineers are known for innovation and the overall workforce is skilled contributing to higher quality production runs. Indian factories are capable of catering to large orders with minimum turnaround time.
  1.       Lower MOQs
MOQ is the lowest set amount of stock that the supplier is willing to sell. International suppliers have set an MOQ on many of their products and don’t cater to orders that fall below it. Larger MOQs can be a major disappointment for small businesses. Coming from our experience, we can comfortably tell you that Indian suppliers generally have lower MOQ requirements compared to other countries such as China and Vietnam.
  1.       Less Communication Problems
One of the major problems that make international sourcing a little risky is the language barrier. Hindrance in communication gaps can cause havoc. Another great thing about India is that English is the country’s second official language. A good percentage of the country’s population can speak and understand English making your job a lot easier.  
  1.       The Relationship Between Indian and the United States is Cordial
The disruption in supply chains due to political tension between the two countries can cause serious consequences for your supply chains.  The growing tensions between the United States and China created problems for many businesses and they started to look for an alternative source. Like mentioned before,  India and the United States have a very healthy relationship and the two countries have common business interests making India the best China – alternative choice. Start Sourcing From India With BlinkGlobal  At BlinkGlobal, we have made sourcing from Indian absolutely hassle free. We have a branch office in India and our local agents have a deep understanding of Indian manufacturing processes. We help our clients get the best products at the most competitive prices. Call us today for a free consultation: 1-800-910-7024
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Our 5 Tips For Negotiating With Large Suppliers | BlinkGlobal

There are powerful suppliers in nearly every industry. These suppliers have a great influence and have stringent demands which make it difficult for small businesses to work with them. Most of the time, small businesses prefer to weigh their options and work with suppliers of their scale. However, there are circumstances when businesses have to work with large suppliers as being established and having greater access to funding, these suppliers can cater to your exact demand in minimal time.

Like mentioned earlier, working with large suppliers can be very difficult as they have stringent Minimum Order Quantity (MOQ) requirements and often charge more than their competition. If you want to work with large suppliers overseas, it is wise to consult the sourcing experts as they have the expertise in dealing with suppliers of all sizes.

In this article, our experts give some tips to negotiate with large suppliers and create win-win deals.

Bring Value to Your Suppliers:

Large suppliers generally have the tendency to exploit the situation and hike prices without any repercussions. You can manage the power imbalance by fostering a relationship that is not just based on financial transactions but also on trust, value, and goodwill. Make the suppliers feel the part of the business and provide them the opportunity to expand into new markets with your referrals and connections.

Sign Up for a Long-Term Contract:

The best way to get the supplier on your terms is by signing a long-term with a supplier. Large suppliers are looking for long-term contracts and partnerships and if you ensure a supplier that you are going to work with them in the future, they’ll compromise and might offer you discounted prices and cater to your other requirements.

Timely Payment is the Key

If you want to get a supplier on your terms, timely payment of the bills is necessary. Timely payment gives the supplier peace of mind, that you are a reliable customer and are you’re easy to work with. To establish credibility, send an advance amount for your orders. However, do not pay for everything upfront. If you are unable to settle the payments on time, inform your supplier about the situation timely, and get a new date from them.

Be Proactive Than Reactive:

Your relationship with a supplier is just like any other relationship, it can go wrong anytime soon. The problem with many small businesses is that they start to manage unpleasant situations when they occur. The damage control measures may often consume a large amount of your time and resources and most importantly, hurt the relationship. Rather than being reactive, it is wise to be proactive and take preemptive measures to eliminate all the bugs that can spoil the relationship in the future.

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.