Industry Experts

The days are gone when you sold your own produce at a profit or traded finished products for mutual benefits. Modern business practices have given birth to a new phenomenon called ‘Sourcing’.  Sourcing, in a nutshell, is the process of identifying suitable manufacturers in one’s own country or from a foreign country, finalizing terms with them, and getting the goods delivered as per the agreed terms & conditions. To facilitate this entire process, a group of individuals or organizations, known as sourcing consultants , have cropped up who specialize in negotiating the best buyer-supplier deal for a consultation fee or a fixed remuneration.  A Sourcing Consultant helps in ● Identifying suitable manufacturers/ suppliers based on the buyers’ needs. ● Maintaining healthy relationships with new & existing suppliers. ● Getting quotes from multiple suppliers before finalizing. ● Obtaining the best deal in terms of price, quality, and delivery schedule. ● Getting the...

Every product that we use undergoes an arduous journey through a variety of processes from being a raw material to a finished product ready for commercial usage In the course of this process, there is the involvement of substantial multiple resources of which one major activity lies in the sourcing of all the raw materials and components required for the manufacturing process. Manufacturing involves a complex process that brings together men, machines and materials in a proper and systematic manner that can provide the desired result. But for a company to gather all the resources single-handedly is a complex and arduous and lengthy process. The difficulty level increases when an offshore organisation seeks to establish a manufacturing facility in a foreign nation. Finding local suppliers of raw materials, machinery and components and specialist erection and commissioning engineers and operations personnel to set up and run the manufacturing unit is a tedious process and requires specia...

If you're in a highly competitive market, you might have considered integrating offshore to cut costs and increase sales. Understanding that an offshore company will help you save money on taxes is one thing; recognizing which location is really the best place to register your business is another. Hiring offshore services as a startup is a sound business strategy that can help your company expand. It enables you to employ offshoring consultants in India at a low cost.   Be clear with your objectives and needs. You should accurately describe your business goals and how they relate to the venture before you start looking for an offshore services provider. Furthermore, you can keep the specific criteria that the offshore team must meet in order to apply to manage your work under wraps. Outlining the needs and the goals of your venture will help determine the best talent for your project's particular requirements.   The right skills and expertise The members of your f...

  As per Statista, global business-to-business (B2B) sourcing transactions totaled $12.2 trillion in 2019. The emergence of the B2B marketplace is among the most influential developments in B2B eCommerce. The importance of this B2B sourcing platform cannot be overstated, as it has reinterpreted the trading relationship between B2B buyers and sellers while still acting as a networking hub. If the trend seeks to spread, conventional B2B wholesalers and distributors have a tremendous opportunity to adopt the online marketplace paradigm and obtain a strategic edge.   As a result, B2B solution providers are witnessing dramatic shifts in buyer tastes and software procurement methods. In addition, the study showed that more than 80% of businesses no longer purchase software according to a calendarized buy schedule. Rather than waiting for the next update or purchasing cycle, more than 50 % of the respondents have said that they are willing to make a purchase as soon as the need ...