In this era of fierce market competition, keeping up with quality standards is imperative for businesses to maintain a good reputation among customers. Besides financial advantages, companies are now shifting their focus to dependable quality goods suppliers abreast with domain knowledge and necessary capabilities. Given the circumstances; India is emerging as one of the most trustworthy, quality engineering goods suppliers in the global marketplace. In the fiscal year 2021, India exported engineering goods worth more than 5.6 trillion Indian rupees, and the growth momentum is at a continuous surge expecting to surpass the predicted growth in coming years.
In our previous blog, we discussed the competencies and advantages contributing to India’s efficiency and success as a supplier of engineering goods. Now, to help you gain a more vivid understanding of sourcing from India, we have compiled some useful tips to incorporate into your sourcing strategy.
Tips to Identify High-Quality Suppliers in India
Below are discussed some helpful suggestions to find reliable and quality-products suppliers.
Check for expertise in your required domain
Sourcing engineering goods involve a series of undertakings that require experience along with extensive knowledge about the industry standards, manufacturing specifications, and much more. For this reason, it is of paramount importance for the buyer to check the proficiency of the seller. If not taken into consideration, it will lead to wasted time, money, and efforts resulting in unmet deadlines hampering overall supply chain management.
Look for quality standards and certifications
Checking for certifications and quality standards is an effective way to ensure a genuine and accurate supply of goods. It will help you access the potential of the supplier and leverage their capabilities for your win!
Examine product information
Closely review the product information and drawings once received from the supplier as it will provide visibility into your supplier’s knowledge and understanding about that particular industry sector. It also shows that the sourcing company is keenly interested to be as helpful as possible to provide you with products.
Review sourcing strategy
Adopting an agile, demand-driven plan complementing the customer’s business goals is the key to effective sourcing and procurement strategy. Along with concrete scheduling for delivery and shipment, also keep a check on communication protocols set by the supplier for updating about the status of supply. This will ensure seamless procedure and mitigate any risks of unfulfilled product requirements that might result in disruption of industrial processes.
Adjust manufacturing and shipping locations according to your needs
Logistics management is of utmost importance when planning sourcing strategies. Shipping capacities, multi-location supply ability, experience with export formality and documentation of different countries, etc., need to be assessed and adjusted according to a buyer’s necessity.
Confirm the lead time and delivery statistics
Delivery and lead time directly impact the costs involved in the sourcing procedure. Identifying suppliers that value your time, understands manufacturing requirement, can anticipate the failures in delivery, and are ready with plan B, is extremely crucial.
Other things to consider
Below are some other points to be considered for assuring smooth supply chain management:
- According to a Thomas Net survey, nearly half of all buyers have worked with a supplier that unexpectedly went out of business. Hence, evaluate and check for the authenticity of the supplier that buyers are dealing with.
- Another important aspect is to be informed of the government policies, restrictions, and other geopolitical factors of the country or area that buyers intend to source from.
- Payment terms, customer support services, access to inventory information, understanding of Intellectual property rights and privacy terms, vendor deployment abilities, etc. are to be reviewed.
How to avoid scams when hiring an agent to buy your products?
With some online research, one can easily assess the authenticity of an agent or sourcing organization. Look at the website and check for customer stories, case studies, guest blogs, etc. Another way is to verify their social media presence. Otherwise do a quick google search and review on what websites, forums, or links do the name of the supplier occurs, it will give you a clear view of their presence and prestige in the industry. Moreover, any legitimate supplier would have references of their established vendor base, customers, or partners that may help you determine their reliability, so you may ask for references as well.
Let us know in the comments your views on sourcing and procurement from India.
Established in 2005, ESSNPS has a rock-solid reputation of being a reliable source of high-quality engineering equipment sourcing and procurement solutions for global companies.
At ESSNPS, quality control and inspection are the central focus of our sourcing and procurement procedure. Our engineers are certified by ASNT Level II and undergo extensive in-house training for keeping a check on the quality of the products being sourced. Our services are coupled with guaranteed excellent products and robust sourcing strategy eliminating hassles in sourcing and procurement procedure. Connect with our sourcing officers at: email@example.com.