Backgrounding your supplier
Checking a supplier’s background is necessary but it can be difficult to do, as there are many short-lived traders or manufacturers who accept an order without the resources to make a timely delivery. The threat of being taken to court or looming bankruptcy is sometimes dealt with by simply closing shop without leaving a forwarding address.
Determining suppliers’ capacity to deliver the ordered goods on time is a necessary step in the sourcing process. You also need to verify the nature of the suppliers’ businesses, their status as exporters and their creditworthiness before placing an order.
It might become necessary to check on your prospective supplier’s financial standing, especially when a large amount of order is involved. One reason is to determine whether the supplier is capable of handling your order and is not in danger of going bankrupt. A close examination of his finances will indicate whether he has the means to make good on his promises.
Hiring an agent
Some foreign buyers might choose to hire an agent in Vietnam to handle the purchasing in their behalf. Getting an agent might be the best option if you do not want to spend a lot of time with the details of sourcing in Vietnam or with follow-up work. Agents can locate products and suppliers and can also perform other groundwork. They can follow up orders that have been placed.
Choosing an agent who is familiar with all facets of trading can ensure that the goods are delivered on time. You will need to check the agent’s experience. A reliable agent knows how to deal with the problems inherent in the exporting system, and can suggest various alternatives in case your supplier fails to deliver your order promptly or correctly
With a strong and dedicated Vietnam sourcing partner who has sufficient local expertise and a global mind, you are assured for excellence procurement of no matter what products you require. KSTC focuses on helping you create long-term and sustainable value in the on-going management of your business requirements to import from Vietnam or procurement of components & equipment for your project in Vietnam.
KSTC can help your business manage these challenges and risks, and help you benefit from the opportunities in Vietnam sourcing. We can work towards finding the best possible prices for you with no compromise on quality.
Our team works relentlessly to ensure that your requirements are delivered on time with quality as per your specifications. We understand that every one of our customer’s businesses is different and comes with a set of objectives and challenges. We will walk you through the various challenges involved in sourcing in Vietnam.
Helping You Define What You Need
To ensure that you obtain the best quality and price while you choose Vietnam sourcing, the first step is to determine what exactly you need. KSTC will seek details related to product specification, minimum order quantity, target price, packaging specifications and the production lead time. Following that, we will investigate, evaluate and recommend the best suppliers in Vietnam for your needs.
With a rich knowledge and expertise in the industry and an in-depth understanding of the Vietnamese culture, we can be your trusted partner in Vietnam.
