What is sourcing? What is product sourcing?

sourcing, product sourcing, trade fair, trade show, purchasers.

What is sourcing?

Sourcing is the process of looking for a new good, service or people.

——–

What is product sourcing?

Product sourcing is the process by which a business attains a product to sell 

————————————————-

In the world of retailing and manufacturing there is a continuous effort going on to search for new ideas and better products.  It is not easy to find products that match your market, your business model and your budget at the same time.

———–

To put it simply, it is like when you would like to buy a new washing machine. Probably you would start searching online for online stores and physical stores. You will visit the most popular stores, filter all the options based on your preferences. Then you will end up having different lists of options from a number of online stores and physical stores. You will start comparing and evaluating all the options until you have your shortlist. Finally you will reach your final decision for buying a washing machine.

———-

That was a one simple product sourcing example, but when you work as a purchaser at a  big retailer or manufacturer, your daily work would be to find new ideas and products to buy. Then you will have to go through the same journey but on a larger scale.  

——-

The sourcing market is huge. Almost all companies selling goods must source them, Think about it: all items you use and buy have been sourced!

——–

How do people source?

Define Needs

Companies build their collection map based on marketing & sales strategy. Typically targeting product type, price and style categories.

Look for new products & suppliers

They typically go online, attend trade-shows, factory visits and showrooms to find new products and new suppliers.

Select & Develop products

Each product needs to be assessed based on price, quality and market fit. The supplier must also be audited and validated. Finally, depending on companies, the products must be changed or made from scratch with manufacturers.

The sourcing cycle, product sourcing, sourcing, procurement, purchase.

——-

How ShowSourcing improves your sourcing experience?

ShowSourcing helps companies to transform their sourcing process to boost their competitiveness by reducing time-to-market and improving their agility. We achieve this with a sourcing framework and softwares that greatly improve collaboration and decision making.

————————–

The key challenge for a company to be competitive is to source fast, source well, and source continuously. ShowSourcing facilitates sourcing fast by offering a package of tools to digitalize the product collection process. From saving notes, pictures and every single piece of information, to creating product collections.

ShowSourcing helps companies to source well, bring the right products that match your market and your company’s objectives. By using the project management tools of ShowSourcing, your company will be able to make better decisions in a shorter time. You can share your data and invite your team and partners to take part in the decision making process thanks to the Workflows and voting system in the App.

Our solution significantly increases your sourcing efficiency which would maximize productivity and give you more time to source new ideas.

Have a better sourcing experience and try ShowSourcing

——-

By Issam Saed

Digital Marketing Specialist @ ShowSourcing  

Why attending the Online Canton Fair is a must?

Why attending the Online Canton Fair is a must?

For the first time in history, the China Import and Export Fair, also known as the Canton Fair, will be held online in its 127th session from June 15 to 24 in response to the COVID-19 pandemic. “After more than six decades of continuous efforts, the Canton Fair has become China’s largest comprehensive international trade fair with the longest history, most commodities and customers and the best trading results,” said Ren Hongbin, Assistant Minister of Commerce. “The 127th Canton Fair is taking place online in lieu of a physical exhibition. This is both a pragmatic response to the COVID-19 pandemic and a major initiative for innovative development. You can register to attend the online fair for free from here: 

https://www.cantonfair.net/event/4248-online-canton-fair-the-127th-china-import-and-export-fair

Why you should attend? 

1- It’s free 

2- It’s easy to join

3- Large assortment of products, even bigger than Alibaba 

4- Direct online access to suppliers 

How will it go on this special Canton fair?

The first virtual Canton Fair will create an online international trade platform of quality and specialty products that covers 16 major export categories, such as home appliances, consumer goods, textiles, medical and health care. Powered by advanced information technology, the Canton Fair will provide around-the-clock online services for product promotion, matchmaking and business negotiations, enabling both Chinese and international businesses to place orders remotely. 

Moreover, the 127th session of the Canton Fair will organise a cross-border e-commerce zone to explore new options for efficient international trade and promote a batch of cross-border e-commerce brand enterprises. The fair will also provide live stream services for exhibitors to promote their products to buyers via custom live channels. The live stream will run 24/7 and will enable face-to-face negotiations or mass marketing promotions to audiences.

How can you be prepared? 

It is helpful to have a collaborative solution to gather information on a list of products that you’re looking to source. We are proud to provide our online sourcing App Showsourcing in this context to help you build the best collection and come up to the market with great ideas. You can try ShowSourcing App for free here: ShowSourcing |

By Issam Saed

Digital Marketing Specialist @ ShowSourcing