Eagleye Ventures is an emerging market sourcing company which is one of the best in providing sourcing and procurement services all over the world. Having direct offices in China, India, Ghana, Kuwait and USA and partner companies in Canada, Bangladesh, Dubai, Philippines, Vietnam, Pakistan, Iraq, Iran and Sierra Leone.

What is Global Sourcing?

A procurement strategy used by businesses to seek the most cost-efficient location for manufacturing its products is referred to as global sourcing. The location is beyond the political boundaries of the manufacturing company, i.e., the global market. It capitalizes on global efficiencies like cheap raw materials, low-cost skilled manpower and economic factors like low trade tariffs and tax breaks. If a shoe manufacturing company in the USA finds that the low wages of employees in a developing economy lead to cheap manufacturing and delivery, it might opt for a foreign manufacturer. Some examples of global sourcing are shoes manufactured in China and call center’s in the Philippines.

And we have our direct offices in China, India, Ghana, Kuwait and USA. And partner companies in Bangladesh, Dubai, Philippines, Vietnam, Pakistan, Iran and Sierra Leone.

Why is Global Sourcing Important?

As international demand grows for a high volume of good quality products, competition rises too. To get profits, firms must keep abreast of the rapidly evolving technology and at the same time, improve quality, bring down costs and better customer service at all levels of the value chain.

How Can Global Sourcing Benefit You?

Low-cost Production

If you want to expand your sales, overseas manufacturers from developing countries are exactly what you need. As a profit-seeking company, you can move your labor-intensive processes to the developing nations with comparatively cheap human labor. Such a practice lowers the production cost, and hence, the prices of services and products for customers.

Higher Production Capacity

Companies with a low infrastructure often find it difficult to manufacture as much as they want to as per their predicted earnings. By turning to low-cost countries, they can make use of the developed infrastructure and produce a large volume of goods at a rapid rate. Also, reduced cost allows product manufacturing at multiple sources, thus increasing the production capacity.

Superior Products

Some countries are simply better than others at something. Global sourcing gives you the power to locate hard to find resources, skills and capabilities (fresh design, research, technology and QA procedures) that are not available at home. This allows you to reduce the supply risk of your company. It also means inexpensive products or services even after additional transportation costs and taxes are included.

Learn to do Business Internationally And in a New Market

You can achieve global business expertise and successfully do business in a new market. Your company may come across several cheap manufacturers with the help of whom you can prudently compete against your rivals. Moreover, the presence of two or three manufacturers means that you do not rely on a single entity.

Companies that have resorted to global sourcing have kept their competitors behind them, decreasing the cost of goods, increasing the speed to market and upgrading the quality constantly.

Need help with international sourcing? Get in touch with your closest Eagleye Ventures office’s across the globe. We have some of the most talented resources to handle your sourcing needs.