During the health crisis at the beginning of 2020, companies became even more aware of the importance of their retail sourcing and where their stock comes from. Most are sourced from the so-called Middle Kingdom, China, the epicenter of COVID-19. Known for their cheap labor, the Chinese companies were forced to stop all their production overnight because of the widespread Coronavirus. This has led to international collaborative companies slowing down or even wholly anesthetizing their activity.
The first critical step in the purchasing process of companies is therefore wholesaler sourcing. Distributor sourcing is finding the right supplier to meet the buyer’s needs, which can be raw materials, parts, or finished goods.
Why is product sourcing so important?
Whether SME or multinational, procurement is very important for companies, This is why businesses that can afford it specifically large firms. For not being overwhelmed since they bring in several products, in addition to that, most often from multiple source networks.
Many difficulties can occur, such as different time zones and language boundaries… At this moment, the software takes place to help by investigating your business transactions to find the most suitable wholesaler for the company’s needs.
The choice of supplier is extremely crucial. The company must be fully confident about the commitment, efficiency, and quality of the product or service offered by its vendor. A wrong choice can be damaging! Involves a waste of time and especially money.
How to find your retail suppliers?
- Online: social networks, industry database, website.
Publish advertisements and communicate your needs in order to attract the right fish to your net. After publishing your ad, you just have to be patient and wait for the suppliers to come to you.
Another option is to initiate your search and go looking for your supplier yourself through professional social networks, and websites with search tools. You can also take advantage of professional directories.
- Advertising: professional directories such as the well-known Yellow Page.
Going through professional directories takes more time since the search is manual, so you must go step by step considering your criteria.
- Attend events and exhibitions:
Meet suppliers at trade shows and events, there is no better way to find the supplier that meets your criteria than by making direct contact with them.
How to choose a wholesaler? What steps to follow?
Once you have a list of possible distributors, it is advisable to ask them for a written quote and a sample of the items you need. This will allow you to evaluate their services to see which wholesaler would be most suitable for your business. 
Reliability is a very important consideration, so based on their reputation and professional recommendations. The evaluation of companies by their business partners is a very good technique, giving access to credible and professional feedback.
Their reliability correlates with their stability, so avoid choosing traders you don’t know. It is strongly advised to choose a supplier who is familiar with the sector and has a lot of experience. It is recommended to investigate the provider’s financial record before taking the jump to ensure its stability. 
Check whether your supplier’s values are like your company’s, for example, if the establishment has a genuine interest in the environment and measures its impact on sustainability. 
Engaged with our Planet
At Shopping Basket, we are very involved in reducing the harmful effects of our over-consuming society on the sustainability of our planet. We have a range of recycled products If you’re an Earth-Friendly person like us, we invite you to browse through our products, especially our range of Eucerplast-accredited post-consumer recycled baskets.
CHECK OUR POST-CONSUMER BASKETS
How can you negotiate properly, and what are the issues that you must discuss with your suppliers?
A company-supplier relationship is significant as it is long-term and collaborative, which means reaching a mutually beneficial agreement. Of course, it must be considered that this kind of agreement is not always possible, sometimes it is necessary to opt for a compromise or accommodating negotiation. Negotiations are not only about price and quantity but there are also important issues to be considered.
- General terms and conditions of sale: This step involves agreeing on price, quantity, date, and longevity.
- Commercial operations: promotions are always pleasant, and organizing a few can be interesting, in this instance, it is necessary to estimate their costs, quantity, and planned communication.
- Marketing and communication: The promotion of the proposed products, communication used by the supplier, white-label distribution…
- Logistics: who takes care of the costs and responsibilities of logistics?
What about their location?
Keeping your supply chain local minimizes the threat to your business and enables the expansion of its sustainability. We have all witnessed the impact that the health crisis has had on delivery. That’s why you need to consider their geographical location in relation to you before choosing your wholesaler.
One supplier or several?
Which is the better option, opting for a single distributor that provides a solid foundation in terms of lead time as well as being profitable for both parties? It’s risky! You can’t ignore the possibility of late delivery, various reasons (e.g.: COVID-19), or even more seriously; bankruptcy. Therefore, it is highly suggested to choose several distributors from your list of possible shippers that meet your company’s needs and values.
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