Understanding B2B Manufacturing Sourcing and its Benefits

 Business to business or B2B manufacturing sourcing is the process of vetting, selecting and managing relevant suppliers who can provide the products a company needs to run their business. In simple words, it refers to companies that manufacture goods for other businesses. For example, a company manufactures leather goods and chooses the b2b route, they will need to find a retailer or wholesaler who can buy their leather goods. The company will sell in bulk for a discounted price to another party who will then sell those leather goods to their customers. B2B manufacturing sourcing in India has helped the Indian industries in expanding their global marketplace and gain target audience attention by adopting various B2B industrial manufacturing strategies.

B2B manufacturers make it easy to meet the demand of customers to get the best quality product at the lowest price. For example, Samsung is Apple’s largest supplier in the production of the iPhone. Apple also holds B2B relationships with famous organizations like Intel, Panasonic and Micron technology. B2b sourcing or b2b marketing has numerous advantages like attracting new customers which results in new sales and, therefore, more income in the business. The b2b companies are free to do business globally, be it physically or digitally. Such mode of business helps the parties save on costs as a good amount of time is spent on planning and working on the project. The Indian b2b startups account for 43% of Indian unicorns offering world-class services to companies across the globe resulting in the fast growth of the b2b industry in India. Industry Experts, a b2b sourcing platform, helps in connecting the international and domestic buyers with relevant Indian manufacturers who can meet the company’s business needs.