Global sourcing refers to the procurement strategy adopted by businesses who procure goods and services from international markets overseas and across geopolitical boundaries (through a global sourcing company), in order to save money by using cheaper raw materials and skilled labour from countries that enjoy lower costs.
Today, with the rate of globalisation, coupled with recent developments due to the COVID-19 pandemic (complications with product sourcing, procurement, and product development – to name a few), more and more people are turning to global sourcing companies to assist them.
By utilising the skills and connections of a well-established global sourcing company, businesses are able to seek specialist help on deciding which markets to manufacture their OEM products, parts, and other components – including finding the ideal suppliers that can meet their precise requirements. This is a critical business decision that can save you a significant amount of money, allowing for impressive growth opportunity.
As one can imagine, however, tapping into Asian markets such as in China, Taiwan, Thailand, Vietnam, or India can be a complicated and time-consuming process that many business owners simply have neither the time nor desire to handle on their own…which is where hiring a reputable, third-party global sourcing company comes in.
For the last 30-years we have been expanding our product sourcing capabilities throughout Asia and the rest of the world. We are well-versed in global product sourcing in a variety of complicated markets and boast an excellent bi-lingual team of sourcing agents who are dedicated to helping our valued clients build lasting relationships with the finest overseas suppliers.
Today, we continue to grow and expand our global product sourcing capabilities with a thriving network of offices in Asia and beyond. Whatever your product sourcing requirements are, we will work locally to find the perfect suppliers and procurement solutions that best suit your needs, while reducing production costs and mitigating quality control risks, for your convenience.
As it stands, we have well-established offices in the following locations:
So, what is it about Source One’s global sourcing services that sets us apart from the rest? Here’s a closer look at our experience and what we bring to the table…
If you are on the lookout for a global sourcing partner who has on-the-ground presence and expertise in some of the biggest markets in Asia, then you’ll be hard-pressed to find a better-connected procurement agency than Source One. With three-decades under the belt, we have a proven record which can easily be modified to suit your exact needs in Asia – whether it be sourcing products from China, or finding alternative manufacturers and services from South East Asia like Vietnam or Thailand.
The first step that we must take in order to establish as to whether we are a good fit for you is to decide which locations will be best for your production and import requirements. Following that, our experienced specialists will evaluate the suppliers on your behalf with a thorough site inspection, provide you with detailed reports that help you make an informed decision about whether or not they are the right suppliers for you. These potential supplier reports will also include:
Information on their general operations
The certification and qualifications they have
History, company culture, and ethics
Their production capabilities and facilities
Their production capabilities and facilities
When we are assessing and comparing potential suppliers for our valued clients, we put them through a rigorous vetting process. In most cases, with 30-years’ experience, we can already make some solid recommendations based on a huge network of global suppliers’ profiles. However, in some cases, we will go out and identify up-and-coming production talent that would otherwise make a more natural fit for you.
Further to this, we assess supplier performance and will proactively solve any potential issues as quickly and with as much cost-effectiveness as possible:
• We document existing issues and new requirements
• We keep track and schedule inspection during the production process
• Arrange inspection prior to shipment as per standard AQL
• Providing a full inspection report for customer
• Analyse their current operating conditions and determine whether they meet our standards
• Compile a corrective action report to bring them up to speed
We go to such lengths only when we see great potential in a prospective supplier. If a few changes can be made to bring them up to standard, we will make the recommendations and oversee the successful completion of said actions. However, if too much growth is required, we will move on and find a more suitable and established supplier for your convenience.
Please bear in mind that we do not have a one-size-fits-all approach in our operations. Instead, we collaborate and continually determine corrective strategies in order to create and maintain the finest product sourcing strategies available. We will help you find the right suppliers, manage them meticulously with constant improvement, and periodically re-evaluate the purchasing strategy with an eye toward evolution.
Supply chain diversification and supply chain management is arguably one of the most important sourcing strategies in today’s climate. What with trade tariff uncertainties and the COVID-19 ramifications yet to take full effect, adopting diversification is the best way to ensure total flexibility in the face of potential complications.