Company Name:
Lishui Huanqiu Bearing Trading Co., Ltd.
Company Address:
No.11 Shiting Road, Shuige Industrial Zone,Lishui, Zhejiang,China
Contact Person: William
Email: admin@tradebearings.com
Homepage: www.asiabearings.com
Bearing B2B: www.tradebearings.com
Here you are, on your first 18-hour plane trip to Asia on a mission to identify new suppliers for your company’s products. What a thrill! You have taken the first big step towards becoming an importer.
But what is the next step? The questions must be gnawing at you.
How do you know the supplier you discover is capable of doing what they say?
How do you place a purchase order with them?
What method of payment should you use?
What terms of payment should you use?
How do you ensure the vendor ships on time?
What if you don't like the production quality? Can you get your money back?
How do you select a carrier or freight forwarder?
How long will it take to ship the product to the United States?
What duties and fees will U.S. Customs charge?
What are your regulatory risks with the U.S. Government?
What is this product really going to cost?
Is my company's organization prepared and able to manage the process?
Will we be successful in meeting our objectives?
Some experts estimate that as many as 90% of importers fail to fully realize their importing objectives.
This guide is not intended to scare you with the many unknowns of importing and thereby aggravate the jet-lag-induced sleep deprivation you will undoubtedly experience upon arrival. It is intended, however, to provide an overview of the myriad of issues that await you in the importing process. It is also intended to highlight some of the common challenges US companies face when they transition from a predominantly US focused sourcing organization to a globally focused one.
You may choose to address these issues proactively or experience them as bumps along the road to achieving your business objectives.
It is the author's experience that bumps in the road cause flat tires and broken axels and that it is a more prudent strategy to pursue the proactive approach to importing. It is this publication's objective to help you avoid those bumps, or at least smooth them over, so that you can fall in the category of the 10% of companies that do meet their import objectives.
Why Import?
Let us start with your objectives for importing. Why did your company send you on this trip in the first place? Companies tend to develop direct importing programs for three primary reasons:
Access production capacity not otherwise available in the U.S.
Access goods and materials that are not available in the U.S.
Access lower cost providers than those available in the U.S.
More than likely your company's goals and objectives are a combination of the above. Your company may have additional reasons for importing having to do with other objectives.
Why Not Import?
Obviously if you cannot meet your company's objectives as highlighted above, you should not be importing.
As you will learn through this publication, importing bears with it hidden costs and risks. If your company is not accounting for these costs and risks or is not willing or prepared to manage them, you should delay getting involved in the process.
Until your company is prepared to actively manage the importing process you will put yourselves at extraordinary risk of regulatory action. You will also experience unbudgeted expenses. In effect, you will not achieve your primary objectives of importing in the first place.
( linda )04 Jan,2012
