How does global sourcing work?
Global sourcing refers to the practice of procuring goods, services, or components from different countries or regions around the world to meet the needs of a business or organization. It involves identifying and engaging suppliers, manufacturers, or service providers in various countries to take advantage of their specific capabilities, resources, or cost advantages. […]
11 ways to improve an ecommerce business’ bottom line
An eCommerce business can improve its bottom line through various strategies and tactics. Here are some key areas to focus on: 1 Enhance Conversion Rate: Optimize your website design, user experience, and product descriptions to improve conversion rates. Ensure that your site is mobile-friendly, fast-loading, and easy to navigate. Use persuasive copywriting techniques and high-quality […]
What is the 7 step sourcing process?
The 7-step sourcing process can vary depending on the context, industry, or organization. However, here is a general outline of a common 7-step sourcing process: 1 Identify Sourcing Needs: Determine the goods, services, or resources required by the organization. This involves analyzing demand, assessing current inventory levels, and understanding the specific requirements and specifications. 2 […]
What are anti-dumping duties?
Anti-dumping duties are tariffs imposed by a country’s government on imported goods that are being sold at prices lower than their fair market value. Dumping occurs when a foreign company sells its products in another country at prices lower than what it charges in its domestic market or below the cost of production. This can […]
What is CE conformity?
CE conformity refers to the process of ensuring that a product meets the essential health, safety, and environmental requirements set by the European Union (EU) to be legally sold and distributed within the European Economic Area (EEA). The acronym “CE” stands for Conformité Européene, which means European Conformity in French. CE conformity is primarily applicable […]
What is quality fade?
Quality fade, in the context of manufacturing, refers to the gradual deterioration of the quality or performance of a product over time. It occurs when there is a deliberate or unintentional reduction in the standards and specifications originally set by the manufacturer, leading to a decline in product quality. Quality fade can be attributed […]
What is Last Mile Delivery
Last mile delivery refers to the final stage of the logistics process where goods are transported from a distribution center or a retailer’s location to the end consumer’s doorstep. It is the crucial and often challenging part of the supply chain that aims to fulfill the last leg of the product’s journey. Last mile […]
What is Freight Forwarding?
Freight forwarding is a crucial aspect of global trade and logistics. It refers to the process of organizing and coordinating the shipment of goods from one location to another on behalf of importers or exporters. Freight forwarders act as intermediaries between various parties involved in the transportation of goods, including manufacturers, shippers, carriers, and customs […]
How to Find The Best Manufacturing Companies for Your Product
How to find the best manufacturing companies for your product Knowing how to find the best manufacturing companies for your product can be quite daunting, especially if you’re thinking of creating your own product for your business. Launching a new product and finding the right manufacturer to produce them probably is one of the most […]
How to Source a Product to Sell for Your Online Business
Starting an online store can be an exciting and rewarding venture, but there are many things to consider before jumping in. One of the most important steps to launching a successful e-commerce business is to learn how to source a product for your customers. Understanding and utilising the various sourcing options available in this […]