Tag: sourcing

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BlinkGlobal

Sourcing from Malaysia? – Here Are The Most Important Things To Know

Under visionary leadership, Malaysia is strongly emerging as the leading economies of the world. The country known for its exotic beaches and great hospitality is currently the third-largest economy in SouthEast Asia. Over the last couple of years, the country’s production capacities have increased enormously as is now a leading supplier across various sectors that include electronics, medical equipment, plastic, and more.

The country has also been keen to invest in its workforce and now stands sixth globally on the World Economic Forum’s ranking of workforce skills. The United States and Malaysia have good business relationships and the United States businesses are benefiting from Malaysian manufacturing abilities. Malaysia’s exports to the United States amount to $22.5 billion or 9.1% of its overall exports. and the nation was ranked No. 14 among U.S. trade partners in March 2021. As compared to a 13% tax on exports from China, Malaysian exporters benefit from no VAT making for a lower cost for the U.S. importers.

Malaysia’s Major Exports to the United States

At BlinkGlobal, we have local agents in Vietnam that help our clients get the best products at the most affordable rates. Malaysia’s top exports to the world include

  • Electrical and electronic products and equipment
  • Petroleum Products
  • Chemicals and chemical goods
  • Palm oil
  • Rubber Products
  • Organic and Scientific Equipment
  • Machinery Equipment and Parts
  • Medical, technical equipment
  • Rubber
  • Furniture
  • Animal/vegetable fats and oils
  • Plastics

 

Here are some other great benefits of exporting goods from Malaysia

Malaysian Suppliers Have Low MOQs compared to China

Minimum Order Quantity or MOQ is the minimum amount to the product or stock that a supplier is willing to cater to. International suppliers do not supply orders under a certain limit which can be a major disappointment for small businesses. Malaysia exporters on the other hand are trying hard to reach new markets and hence have lowered their MOQ requirement compared to the supplier in other countries such as India, Vietnam, and China.   

Fewer Communication Problems:

Though the official and national language of Malaysia is Malay or Bahasa Malaysia, the Government of Malaysia has recognized the importance of English as an international language and is taking strong initiatives to ensure that English is taught as a strong second language. A good percentage of the country’s population can speak and understand English making communication and trading a lot easier.

Start Sourcing From Malaysia with BlinkGlobal

At BlinkGlobal, we have made sourcing from Malaysia absolutely hassle-free. We have a branch office in Malaysia and our local agents have a deep understanding of Malayasan 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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BlinkGlobal

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.