21 Best Global Product Sourcing Companies for New Products Idea
Product sourcing companies and agents work hard to provide their customers with the best prices on any product they need and to meet quality standards.
They ensure that the factory or supplier can produce and deliver the product in a timely manner.
Table of Contents
What Does a Product Sourcing Company Do?
Product sourcing companies or sourcing agents help companies find products and sources of supply with certain qualities or attributes at a low cost. Some may represent a few selected factories or serve multiple companies. For example, at supplyia, we do not have exclusive contracts, but rather find the best factory for a company.
- Knowledge of multiple languages (including any local languages) as well as local business customs and norms is essential.
- The sourcing company or agent should have good business skills and the ability to manage multiple projects at the same time.
- The sourcing company should have a long-term, stable, and valuable contract and relationship with the supplier. Both parties should be happy to work with a good sourcing company. At Supplyia, we take pride in building such relationships.
What is a Good Product Sourcing Company?
A good product sourcing company evaluates the needs of its customers and finds the factories and suppliers that will best meet their needs, resulting in purchase orders.
Companies and individuals want sourcing companies or agents to find factories they can work with overseas. Reputable companies such as supplyia may also visit a factory in person to confirm that they can meet a company’s needs.
In addition, the sourcing company should be able to address ethical issues, including working conditions and contamination.
Why Do You Need a Product Sourcing Company?
The main purpose of a sourcing company is to find manufacturers who are able and willing to produce products for you.
A sourcing company should get a quote that includes the following:
- Unit Price
- Cost of samples
- Delivery time (time from first payment to delivery)
- MOQ (minimum order quantity)
- Payment terms
- Shipping Method
What Additional Services Can the Sourcing Company Provide?
The sourcing company should be able to arrange factory tours, assist with quality control, and liaise with third party services that can perform inspection, testing and certification, and freight forwarding.
The sourcing company and sourcing agent should be able to handle a variety of issues, including import and export duties, taxes, tariffs, and any local and international norms.
The sourcing agent or company should be able to move goods faster, cheaper and with less risk throughout the international supply chain. This is also important in countries with large bureaucracies to reduce red tape and avoid trouble in countries where corruption is rampant.
As one of the best China/Asia sourcing company, Supplyia will provide a detailed report, including photos and copies of necessary licenses and certifications. Supplyia is committed to ensuring that our facilities have decent working conditions and comply with any environmental standards required by our customers. We believe in a fully transparent supply chain.
Example of Product Sourcing Companies List:
If you are looking for some product sourcing companies to help complete part of the work in your supply chain, some of the well-known companies listed below, you can refer to the selection.
| Company | Service | Location |
Supplyia |
product sourcing company | Yiwu, China |
Unitedgs |
US sourcing agent | MI, US |
Connectedsourcing |
Global product sourcing company | Asia |
Sourceoneltd |
Global product sourcing company | Global |
SVI Global |
20 years in supply chain management | Global |
Partnerloggroup |
Global product sourcing company | Helsingborg – Sweden |
Amrepmexico |
Mexican product sourcing company | Mexico Mainly |
Brandnewmd |
US product sourcing company | NJ, US |
Avasant |
Global sourcing company | VA, US |
Cosmo |
Product sourcing company | US, Asia |
Zignify |
Global product sourcing company | UK |
Sourcingint |
Sourcing agent USA | Texas US |
Globalsourcingintl |
Global product Sourcing | FL, US |
Fillsell |
Sourcing agent Lithuania | Vilnius, Lithuania |
Gradeaglobal |
Sourcing agent USA | Phoenix, Arizona |
Globalsourcing |
Mining & construction industry | South Africa |
Darian |
United Kingdom sourcing company | Leicestershire, UK |
Swissoptic |
Swiss sourcing company | Heerbrugg, Switzerland |
Mrags |
Global sources USA | IL, US |
Eds-international |
Global sources Vietnam | Ho Chi, Vietnam |
Gembah |
Manufacturing sourcing company | TX, USA |
like-sourcing |
Global products sourcing | IL, USA |
Gpsources |
Sourcing agent USA | TN, USA |
Sourci |
Australian product sourcing agent | Cremorne, Australia |
Type of Product Sourcing Company:
| Type | Description | Strengths | Weaknesses |
|---|---|---|---|
General Sourcing Companies |
These companies offer a wide range of sourcing services, including product identification, sourcing, quality control, and shipping. They are a good option for businesses that need help with all aspects of the sourcing process. |
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Vertical Sourcing Companies |
These companies specialize in sourcing products for a specific industry or product category. They are a good option for businesses that need help sourcing products in a particular field. |
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In-house Sourcing Teams |
These teams are staffed by employees of the business that is doing the sourcing. They are a good option for businesses that have the resources to dedicate to in-house sourcing. |
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Outsourcing to Freelancers |
These individuals or small businesses provide sourcing services on a freelance basis. They are a good option for businesses that need help with a specific aspect of the sourcing process, such as product identification or quality control. |
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Product Sourcing Best Practices
The goal of product sourcing is to find the best products at a reasonable price and to have consistent and reliable suppliers to keep your store well stocked. Let’s review some product sourcing best practices.
1. Research your products and validate your suppliers
One of the most important steps in product sourcing is research. Before buying products in bulk, make sure there is a demand for the product. Make sure you are getting a product that can be manufactured to your company’s standards.
You need to research not only your products, but also your potential suppliers. Make sure they are legitimate, registered and reliable. You don’t want to receive counterfeit, poor quality or delayed products.
2. Use Product Sourcing Company
Using a product sourcing company can be a great way to find and source high-quality products at competitive prices. If you have many projects, you can hire a sourcing company to help you finish part of them.
3. Have a Plan B
Having a backup supplier you can contact when needed is critical. When problems arise, you should prepare for the worst – even if you have a good relationship with your primary supplier.
4. Encourage imitation
There is likely a company in your industry that sells a product similar to yours, and they may have a product sourcing process that works well. It’s perfectly fine to copy a successful sourcing model that already exists.
Top 5 Mistakes Sellers Make When Sourcing Products from China:
Outgrowing your supplier:
Don’t just stick with the same supplier you used when you first started. As your business grows, you may need to find a larger supplier with better quality and prices.
Not getting pre-shipment inspections done:
This is a crucial step that can help you avoid costly mistakes. A pre-shipment inspection will check the quality of your goods before they ship, ensuring that they meet your expectations.
Not getting product testing done:
Depending on the type of product you’re selling, there may be legal or industry standards that require testing. It’s important to comply with these requirements to protect yourself from liability.
Not understanding the correct payment terms:
Typically, you should pay a 30% deposit after confirming a pre-production sample. The remaining 70% should be paid after the goods are shipped and inspected.
Not fully understanding the HTS codes and shipping costs:
The HTS code is the import duty code that determines how much you’ll pay in taxes. Make sure you understand this code, as well as your shipping costs, to accurately calculate your profit margins.
Getting Started with Product Sourcing
Product sourcing is an integral part of e-business, and the product sourcing process itself is important.
If you are considering using a product sourcing company, here are some tips:
- Do your research: Before you choose a product sourcing company, it is important to do your research and compare different companies. Read reviews, check their credentials, and ask for references.
- Be clear about your needs: Make sure you are clear about your needs and expectations from the product sourcing company. What products are you looking for? What quantities do you need? What is your budget?
- Get quotes from multiple companies: Get quotes from multiple product sourcing companies to compare prices and services.
- Negotiate the terms: Negotiate the terms of the agreement with the product sourcing company to ensure that you are getting the best possible deal.
- Monitor the progress: Monitor the progress of your order to make sure that it is being fulfilled correctly and on time.
Once you have identified the a good product sourcing company and have the products you need, you need a way to sell them. This starts with a great eCommerce platform.
