B2B Sourcing Companies - Your Overseas Procurement Partner

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 What is B2B sourcing?


As a business entity, you have the option to decide whether you want every aspect of your business to be handled internally or some elements can be sourced from outside. B2B sourcing is a process where the primary company decides to procure goods or services from another organisation, usually located in a different country. B2B sourcing is an offshoot of globalisation that has brought the worldwide business communities closer together. 


What are the benefits of B2B sourcing? 

Apart from cost considerations, B2B sourcing has multiple advantages, such as:

- A plethora of suppliers: B2B sourcing has increased the business potential for manufacturers and suppliers. This is attracting more players in the field, thus, giving the buyers more options to choose from. 

- Increased competition, better quality at competitive prices: With the increase in the number of suppliers, the market has become more competitive in terms of quality and pricing. 

- Best of the world: You can get the best products that suit your need from anywhere in the world with B2B sourcing. 

- Business expansion: With a critical aspect of your business being sourced from outside, you can focus on other areas of your business and expand fast.

- Optimal inventory: You can optimize your inventory by sourcing enough to meet market demands.


What is the B2B e-commerce market size?

The global B2B marketplace was estimated at approximately $6800 billion in 2021. It’s expected to grow at a CAGR of around 19% from 2022 to 2030. 

The Indian B2B e-commerce market is expected to cross $100 billion in the next ten years. Since 2020, the valuation of this sector has nearly doubled every 3-4 months and had attracted investments of nearly $100 million. 

India is the 6th largest economy in the world with more than $3 trillion in nominal GDP in 2021. The country recorded exports worth over $400 billion in the financial year 2021-22, thus reinforcing its position as a strong global supplier. 

Government initiatives like “Make in India” and “Atmanirbhar Bharat” has boosted India’s position as a viable alternative in Best Cost Country (BCC) sourcing. 

How to find suitable B2B sourcing companies?

With the sourcing market showing upward trends, you are spoilt for choice in the B2B sourcing segment. Industry Experts have the market know-how to connect you with the best suppliers in your chosen domain.

Source:- https://www.industryexperts.co.in/blog/b2b-sourcing-companies-your-overseas-procurement-partner

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