The Global Sources verification process is directed at providing procurement departments of manufacturers, importers, and trading companies with information regarding reliable verified suppliers because of their needs. Global Sources is a reliable sourcing website that specializes in supplier verification and in organizing many large trade shows in Asia. It can also be engaged in many print publications that provide plenty of sourcing information. Working with it is advantageous to both suppliers and buyers. Once suppliers register with the website, it verifies that they’re legitimate. This stamp of approval benefits the suppliers. Buyers, on the other hand, can be satisfied that if it has verified a supplier, they need not be worried about that company’s authenticity.
Different Functions Of Global Sources
Global Sources verification involves physical checking to find out whether a supplier is authentic and a legally registered business organization. Global sources also verify if the listed contact person actually represents the registered company. The representatives make regular visits to the organization to make sure that they are export ready and have real offices and products. 안전놀이터 검증 The data given by the organization regarding its entity can also be verified for validity and accuracy. In case a supplier does not meet the required standards of the community, he is rejected. Additionally they work closely with intellectual-property rights holders to get rid of any infringing products listed. However, product inspection isn’t carried out by them.
Different verified suppliers are categorized differently predicated on Global Sources verification process. Someone to six star rankings are allotted by Global Sources to the suppliers. Predicated on supplier verification and these rankings, detailed information regarding various aspects is placed forth on the website to enable procurement agencies to keep yourself updated of the parameters used and of areas checked in the supplier verification process. By doing so, it becomes easier to decide on verified suppliers.
It offers a one-stop sourcing platform for specialized sourcing requirements. Industry-specific categories have already been created with pointers to current industry trends and hot new products. They will be in existence for more than 30 years, and Global Sources verification is considered to be reliable by most agencies who’ve handled them.
Drawbacks
They do not verify, however, whether a supplier is capable of meeting bulk quantity requirements within the deadlines set by the clients. Moreover, their supplier verification process does not include checking for quality. It has been unearthed that sometimes even verified suppliers neglect to honor their delivery commitments, are unable to supply the entire level of the order, and lag miserably in quality requirements. Basically, it is all a matter of the star categories because the higher the star category ranking, the more stringent the Global Sources verification process is. As an example, supplier capability isn’t checked for a three-star category and, as such, it is possible that the supplier might not manage to supply the amount he might claim to manage to doing.
Cost Factor
For a supplier to obtain a higher star rating, the global sources verification process is more elaborate and consequently more expensive. The supplier is charged more and this extra cost is offered to the buyer. However, not absolutely all verified suppliers give the cost, especially the big businesses, because this amount might be merely a negligible fraction of their total sales and they realize that it’s worth paying something extra for establishing reliability and credibility of their products. This process of supplier verification needs to be repeated every year.