Correctly defining a hardware import strategy means considering all factors such as the country from which to import, costs or suppliers, and it also means including that strategy within the overall planning of the company. Potential challenges such as delivery times and international trade standards should be taken into account as an additional point. Our post today is going to be very useful to you!
Key points to have a successful hardware import strategy
Planning for a hardware import strategy may vary from company to company depending on the goals set. However, we could say that the following points have to be defined in detail in order for the import to be successful.
Plan and set short and long-term goals
Creating a good business relationship with one or more foreign suppliers will be more beneficial if we are already clear about what we want to achieve, for example:
- Import as many hardware per year.
- Get them directly to our warehouses.
- Save time on delivery times and costs on imports.
As we said before, the hardware import strategy has to be adjusted to the overall strategy of the company. Therefore, defining objectives is the starting point.
Create the action plan
The following sections should be detailed in an action plan for a hardware import strategy:
- How you’re going to import. If you’re going to do it directly from the supplier and you’re the one who handles a lot of the operation or if you’re going to delegate these tasks.
- Set an initial budget and set deadlines. To import hardware, you have to set a budget as well as delivery times. As the business grows, more can be invested in these operations.
- How the products will be delivered. Origin and destination of goods, i.e. from which factory they leave and what will be the destination. Speed and efficiency are key.
Legal and tax issues
It is necessary to take into account aspects such as:
- Incoterms: internationally trade rules used in the field of imports.
- The local legal environment as well as the culture of the country.
- What the practice of manufacturers is in this type of commercial action.
- What the law says regarding payment agreements.
- Possible trade restrictions on the importation of certain goods.
- Import licenses that your company must have.
Choose your suppliers
It is the most relevant point within the hardware import strategy. Identify and select the suppliers with which you’re importing the hardware that you’ll later include in your company catalog. Not only they must have high quality material but also meet the agreed deadlines and delivery conditions. Try to know how they are, how they work and what their experience is. Remember that the language theme is important.
The selection of suppliers offered by IBMH’s Strategic Sourcing service
We couldn’t close the issue of hardware import strategy without telling you about the benefits of having IBMH as your purchasing management office in China.
- We have extensive experience in the sector. Our team of professionals is ready to study your catalog and offer you the best products.
- You won’t have to travel to China, learn about culture, select suppliers, or worry about language. We’re there, we have our offices in China. In addition, we have access to thousands of factories in the main production areas of the country.
- You will achieve a price reduction of up to 40% in your imports of furniture and construction hardware.
- Our Quality Control department will ensure that all goods meet all required quality standards.
And, of course, we guarantee you a totally professional job. At IBMH we are experts in purchasing management in China. We are specialized in hardware and accessories for the furniture and construction sector, just what your company needs. Contact us today!