Global Strategic Procurement
What is global procurement?
Global Procurement, involves a set of activities and processes that are necessary for a corporation to buy necessary products from the most suitable suppliers around the globe for the lowest cost base.
Most people confuse procurement with global sourcing. Global sourcing process is conducting the research to identify possible sources for the given need. Procurement takes the necessary steps to verify the source and conduct the monetary operations, quality assurance, site checks, and takes care of the supply chain operations to the point of delivery as well as entry related costs and paperwork.
The first step in procurement is price negotiations. We negotiate with multiple vendors as a backup and understand that the price needs to be stable for a given period of time for the sake of budgeting
Second step is to secure the payment terms, most overseas suppliers like to have 100% upfront payment before the delivery of the goods, negotiations are performed to extend the amount of time is required
Third step is to define the quality standards and expectations, a local procurement agent will be present to ensure the quality standards are followed before the logistics agent loads the product to the container.
Next step is to ensure products are properly loaded to the containers and protected thoroughly during the container shipment. If products are not packaged or loaded properly, delivery could result in high rate of defects.
Every product sourced needs to be properly documented for export and import customs checks. Failure to comply with proper documentation would result in delays and even confiscation of goods by port authorities. We ensure all proper documentation is handled properly to avoid and time consuming mistakes.
We are at Agile Global Trade, experts in global procurement and have the necessary resources to ensure a smooth buying operation is performed every time a product is loaded and shipped, so you can focus on what is important for your business with the additional benefit of reduced buying costs.