Tag: product sourcing
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5 Common Product Sourcing or Product Procurement Errors
Sourcing new suppliers and products is a challenging task. Mondoro has a wealth of experience in procuring various products from different countries over the years. Along this journey, we’ve gained valuable insights through costly and intricate lessons. We have listed 5 most common product sourcing or procurement errors which include 1) if it looks too…
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Top 9 Benefits Of Global Sourcing
Global sourcing is when a company purchases products from overseas. Many companies enjoy the benefits of buying and sourcing their products globally. There are many benefits for companies to source their products and even services globally. Sourcing their products globally usually allows them to buy a product with the design, price, quality, and quantity they…
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Product Sourcing And Strategic Sourcing Explained
Sourcing is part of supply chain management. Any importer, manufacturer, business owner, or retail store must look at sourcing products, goods, and services. Sourcing is an essential part of any procurement process. Product sourcing is when you source or look to find a supplier for a product you need. Strategic sourcing is strategically sourcing products.…
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What is Sourcing in Supply Chain Management?
People will often say that they are sourcing a product, but the word sourcing can become very confusing for many people because it is a word used mainly in supply chain management. Sourcing is about procuring a product or service for your supply chain management. When sourcing, you must 1) identify potential sources, 2) engage…
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Supply Chain Differences: Product Sourcing Vs. Product Procurement
When speaking about supply chain management, it can get confusing to understand the difference between product procurement and product sourcing. Product procurement and sourcing can seem to be the same thing, but there are some differences. Product sourcing is obtaining or purchasing a product for your supply chain needs. Product procurement is the process that…
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Is Vietnam Easier than China to Source or Procure Products From? Tips to Help
With the present US tariffs as a problem for many Chinese-made products, many US suppliers ask themselves if Vietnam is more accessible to source products from than China? We have offices in both China and Vietnam and have been sourcing products in both places for many years. Vietnam does not have a highly developed product…