The product sourcing is about finding, selecting, and procuring overseas products for your business. It’s an essential part of any international business since it affects the quality of goods customers can buy and the prices they pay. We assist our clients in ensuring their products are sourced from reliable suppliers meeting their standards for safety and compliance.

Sourcing phases requires much research and coordination among agents, factories, ports and facilitators. It involves researching potential suppliers, evaluating them based on cost, quality, delivery timescale, customer service, return policy and sustainability practices; negotiating contracts; managing inventory levels; and tracking orders throughout production cycles.

Businesses must know their product requirements and consider other factors when selecting suppliers. It’s also important to remember that although the cost is an essential factor for any business, we will help you find the balance between quality and price.

Source HQ understands that product sourcing and finding reliable suppliers is the key to helping our clients reach new success levels. We streamline the sourcing process by automating repetitive tasks such as data entry, payment processing, order tracking, and other functions. This helps save time and money while improving accuracy throughout the sourcing process.

The purpose of International Commercial Terms (Incoterms) is to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade.

Each Incoterms rule specifies:

The obligations of each party (example: who is responsible for services such as transport; import and export clearance..)
The point in the journey where risk transfers from the seller to the buyer
So by agreeing on an Incoterms rule and incorporating it into the sales contract, the buyer and seller can achieve a precise understanding of what each party is obliged to do, and where responsibility lies in event of loss, damage or other mishap.