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Procurement is the act of obtaining and purchasing goods, services or any form of works from an external source mostly through tendering or bidding processes. The goods, services or works have to be of high quality and procured at a very good cost that optimizes the needs of the company or firm.

Steps to Ensure a Successful Procurement Process

Steps to Ensure a Successful Procurement Process

Procurement is the act of obtaining and purchasing goods, services or any form of works from an external source mostly through tendering or bidding processes. The goods, services or works have to be of high quality and procured at a very good cost that optimizes the needs of the company or firm. The process of acquiring the goods or services is achieved through various steps that make up the procurement life cycle.

Need Determination

As a procurer for a certain company, it is an internal requirement for the company to start by identifying its needs. This is mostly achieved by developing a short term strategy that involves defining the goals that are to be achieved within the period let us say 3-5 years. The direction or path to be followed and the requirements needed to attain these goals are identified.

Identify the Right Supplier

After considering important aspects such as whether to make or buy goods and services, whether to use a single or multiple suppliers; the next step is to establish the perfect supplier for the required goods and services. An online search could be used, referrals or trade shows. As the lead procurer, ensure that the supplier selected is one you can work with appropriately without collisions.

Supplier Communication

After identifying the right supplier or supplier, the next thing is to ensure that sufficient communication is done about quotations, proposals, information or tendering requests. You could make use of advertisements where numerous suppliers are involved or simply direct communication where a single supplier is concerned.

Negotiation

Negotiations have to be done to determine the price margins, goods availabilities and the possibility of customizing particular goods and services.

Supplier Liaison

Here the company does an evaluation on the P/S and the accompanying service support. This could be done using a supplier scorecard. The contract will expire only after the P/S has been consumed or disposed of, saving room for reordering.

Management of Logistics

During this stage, supplier preparation, expediting, shipment and delivery and finally payment are completed by the binding contract terms. The services could extend to the installation of products and training of personnel on how to use the products.
All in all, the above cycle is just a representation of an appropriate channel to ensure a successful procurement process. It is important to possess good interpersonal skills so as to be able to relate well with other firms and procure the best quality products and services.

Chinese Manufacturer Business Guide

Chinese Manufacturer Business Guide

Suppose you’re looking for any New China product that you think that you need to manufacture and then hand over to the supplier but for that, you need to understand what your requirements are and know how to find a manufacturer in China. You can find tons of manufacturers in China that can satisfy your need, which has low production and development cost and a strong desire to increase our business, but how to find a manufacturer in China is the main question, here we can have some key points you should know before you get started.

You can Search through Internet Research, which consists of Platforms like Alibaba, Global Sources, and Made-in-China.com, We know that your search results are in thousands, but you can filter it out by your need. Social Media is also a kind of platform that can help you in how to find a manufacturer in China, but here you need to link up the different Sources like Forum, Social Groups, and also in some China trade groups. Trade Shows, yes you can go on a trade shows and can have direct communication with the manufacturer, and discuss your business, and a great opportunity to talk directly face to face. Also, use Search Engines to get information directly via Internet and research on same and check out if any similar product is not available or not, and know the market by researching it as we know that there are lots of scopes available and get ideas about how to find a manufacturer in China.

Use B2B websites to contact Chinese suppliers as they are very famous in how to find a manufacturer in China and provide valid information and with excellent sources. The next step filter the list of suppliers by checking different criteria like Rating/Review online and know what customers say about the manufacturer, Honesty should be must to have a proper licence, quality plays the important role and manufacturer would be trustworthy for the quality and select the one from all filtered list of the manufacturer. But the work is not yet over you need also to check for the prices of the Samples they take widely and with you and also check free or discount they are giving on the normal price. Also, check for the Production price they demand on the ordered volume and know the shipping charge as well. How long they take to complete the order, and what are the payment modes they prefer to follow.

One important thing is before signing the contract makes sure you have visited the company and have read all terms, conditions they used and the updated policy, check the company background and the past relationship and work experience with other companies and know the reviews of that particular product manufacturer history and the basic details. Also, verify the product after it has supplied to any suppliers. After obtaining the information you require check if the international business is possible and confirm through reference letter of the manufacturer’s bank, but following the above steps you chances of risk is solved up to great level and you would be running out of problems and increase chances of long lasting relationships with the Chinese manufacturer.