If you are a retailer, you are not manufacturing the goods that you provide to customers, you are just selling them. Therefore, you need to source your supplies from somewhere. Where might the best place to source materials be? The answer to that questions depends entirely on your individual business. You need to investigate your options and look for the supplier who works best with you. Lately, a large number of retailers have been sourcing their products from China. We will be discussing this option, and outlining what you should and shouldn’t do when buying in China.
Where in China?
Yiwu is a large city in China, which can be found in central Zhejiang province. It is a good place to start if you are looking for wholesalers in China. This city has a large number of wholesalers and the prices for which they produce items are quite low. You can try this area first, because it is likely to be the easiest to find a supplier.
What you should be doing
Before doing anything, make sure that you will be better off sourcing from China. If it just makes more sense to do it locally, then listen to your instinct. If you decide to source products or materials from China, you will need to pay attention to the details. Keep in the loop as to what is happening at all times. Make frequent check-ins with your suppliers to ensure that everything is progressing as it should be. As well, set a financial goal and share it with your suppliers. This is how both of you can monitor how your relationship is advancing. Another thing you should do is let your customers know that you have investigated the supplier that you are working with. Tell them that you have seen their work, and have approved it. This way, customers will not be hesitant about buying from you and your outsourced products.
What you shouldn’t be doing
When you choose a potential supplier, do not make a deal with them right away. Do your research and find out everything that you can about them. Talk to others if you can, and try to get a good sense of who the company is. As well, make sure that they can meet your needs, and that you and they are on the same wavelength. It is also important to verify the suppliers so that you are at less of a risk of being scammed, and losing your money. Another thing that you shouldn’t be doing with a brand new supplier is using high-risk payment options such as credit cards. Try using more reliable options such as paying through your bank until you get to know the supplier better.
Working with suppliers from other countries has a vast array of benefits. However, you must always be vigilant and aware of what is going on. If you have taken the proper precautions, you will have a better chance of being successful in this endeavor.