[custom_frame_right shadow=”on”][/custom_frame_right] Place Order(s) / Contract You have your price, negotiated terms, and have defined a production management and quality control strategy and are now ready to place your order.  It is critical that all of the key specifications and terms negotiated are clearly documents in your purchase order.  You should have everything issued in […]

Your pricing and terms negotiated, an important question you need to consider is : “How am I going to ensure that my products are produced according to the lead times offered by the factory and how will I ensure that what they deliver is going to be as per my order?” loans monthly payments The […]

At this point your initial shortlist has been narrowed to your finalists, you have hopefully met most of your prospects and you have possibly eliminated a few.  The list is now significantly smaller than it was when you started.  You should have a good feel for the capabilities of each of the factories you have […]

Meet Your Finalists Business in many cultures (China especially) is not transactional as it is in many Western cultures.  It is relationship based.  Once you have selected your finalists you need to meet them face-to-face.  If you are going to use an agent, a face-to-face meeting is also recommended (and this is another reason why […]

[custom_frame_right shadow=”on”][/custom_frame_right] You have shortlisted your suppliers, sent out your RFQs and are now beginning to receive quotes from the various entities that you contacted.  The first thing you should be doing as you begin to receive the bids is to check them against your RFQ to make sure all specifications, priorities, etc. have been […]

You are now ready to distribute your RFQ but don’t know where to send it. You have researched the attractiveness of certain locations of production (or at least have discarded some alternatives), but you are not sure, within the markets you have identified, who to contact. Opportunity Whatever Your Fast Factory Direct or Trading Company […]

Prepare Your Request for Quote (RFQ) You have now assessed your needs, you have defined your priorities, and you have explored location of production benefits and limitations.  At this point it is time to prepare your request for quote.  To start, gather all of the information that you will include in your RFQ and that […]

Now that you have defined clearly your needs and priorities, it is time to figure out where the optimal location of production will be for your product.  Typically, products associated with high labor costs and/or that are purchased in large quantities make the best products to source from China or any other low wage country. […]

[custom_frame_right shadow=”on”][/custom_frame_right] When people are asked to define their priorities as it relates to their sourcing initiative, we usually hear – “We want the best possible quality for the best possible price and we need it delivered yesterday.”  This is not a prioritization, but a wish list.  Unfortunately, when everything is a priority, nothing is […]

Thanks to the sickly global economy and the resulting corporate deleveraging and pressures to reduce costs, many companies have increasingly turned to locating new sourcing opportunities overseas.   The decision to either outsource production or seek new suppliers is a strategic one.  But very often it is not given the strategic importance that it requires.  Before […]