Why Buyers should use a Product Sourcing Agent.
- What are the benefits of using a sourcing agent to find products?
- So, what countries should I use a Product Sourcing Agent in?
- Can a Sourcing Agent help me with near sourcing my products?
- So, how much does it cost to hire a Sourcing Agent?
- What is the definition of a Sourcing Agent?
- So, what does a Sourcing Agent do?
- Over to you…
Many buyers that are sourcing their products from China and the Far East are now starting to try to find suppliers and factories closer to them and the customers and diversify away from sourcing from the Far East. It is called Nearshoring or Near Sourcing.
There are many reasons for this, but the main two reasons are the cost of transport and geopolitics.
Many European buyers are looking to source within the European Union or Turkey, while many buyers in the Americas are looking to source in Central or South America and Europe and turkey.
In recent times, many buyers used internet companies such as Alibaba for their China Sourcing search. However, Alibaba is primarily a China sourcing platform. It does not offer real solutions for those looking to source products or suppliers from other countries.
So, have you considered using a Product Sourcing Agent to help you? If you are reading this blog, you possibly are thinking about this and want to learn more and what sourcing services my firm TCI offers.
If, after reading below, you want to use my firm’s Product Sourcing Services, please get in touch with me.
What are the benefits of using a sourcing agent to find products?
Many companies want to quickly find products and suppliers from a targeted country or region. They need a local expert who has both the product knowledge and the connections to achieve this. Many firms require these searching services at no cost to them. Sourcing Agents meet these requirements.
The Benefits of using a Product Sourcing Agent are
- Experts at sourcing products in new countries for buyers.
- Often work on commission only.
- Quick at providing buyers with information and results.
- Can help a buyer build a supply chain network within a new country.
- Unlike listings websites, Product Sourcing Agents can conduct a detailed search for specific products you may require.
So, what countries should I use a Product Sourcing Agent in?
In the early years, China developed its exports through the use of Sourcing Agents and Trading companies. Nowadays, these agents have been replaced with online platforms such as Alibaba and Goodada to search for suppliers of products.
However, post-Covid, high freight costs, geopolitics and production delays are forcing many firms to start sourcing from countries outside of China. Many are looking at India or are seeking to develop near sourcing solutions within their supply chain. Near sourcing or nearshoring means sourcing products from countries close to a firms home market.
Here Product Sourcing Agents are very useful. TCI offers Product Sourcing Agent Services for the following countries:
Can a Sourcing Agent help me with Near Sourcing My Products?
Product Sourcing Agents are experts at assisting firms to near-source their products. The benefit of using a Sourcing Agent for these services is that they bring tacit knowledge, contacts and networks, instantly bringing solutions to any firm that uses their services.
Another advantage is the low cost to the buyer. Many Sourcing Agents work on a commission-only basis. It enables companies to find new potential suppliers with little set-up or upfront costs.
So, How Much does it Cost to Hire a Sourcing Agent?
Most Sourcing Agents work on a commission basis, or they may sell the products to you from one of their factories. The only issue that firms must remember is that Sourcing Agents work on receiving commission for every order made with the supplier. It is not a once-off introduction fee.
Suppose a buyer is looking for an introduction service. In that case, they should advise the Sourcing Agent about this requirement and agree on a fee.
What is the definition of a Sourcing Agent?
A firm hires a sourcing agent to help it find goods and new suppliers and achieve its outsourcing or near sourcing its production. A Sourcing agent may be an individual specialising in a specific country or a company offering sourcing solutions for many countries.
So, what does a Sourcing Agent do?
A Sourcing Agent brings sourcing solutions to a company looking to find products and suppliers from a particular country or region. The Sourcing Agent will have the production contacts, product knowledge and supply chain networks to enable its client to buy from that country quickly.
Over to you…
If you are looking to source products and suppliers from a new country or region, don’t hesitate to contact TCI.
Did you know that for most countries, TCI works on a commission-only basis?
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Or at the following numbers:
(Europe/ Rest of the World) +353 1 885 3919
(North America) +1.518.290.6604
Or email me, Aidan Conaty