The Importance of Guanxi in Doing Business in China
For foreign companies, entering the Chinese market is a real challenge. Business in Asia has a strong cultural dimension, with traditional values and codes that must be considered. **Guanxi** is one of the key pillars for building relationships and developing a professional network in China. However, while its importance is undeniable, applying it in practice can be a real puzzle for newcomers. So how can you establish *guanxi* effectively?
Definition of Sustainable Sourcing
Sustainable sourcing involves integrating social, environmental, and ethical performance factors when selecting suppliers. This approach is driven by increasing consumer demand for optimized logistics. To reduce waste and limit greenhouse gas emissions, companies must streamline their sourcing systems. Here is a comprehensive guide to sustainable management and the responsible practices that stem from it.
Made in PRC: What Does This Label Mean?
The industrial power of the Middle Kingdom continues to grow, accounting for 30% of global manufacturing value-added in 2023. Most products made in China carry the “Made in China” label. However, the “Made in PRC” label often leads consumers to believe the product comes from another country, whereas it is simply the official name of China. In this article, MWT Sourcing provides all the key insights to understand what “Made in PRC” truly means.
How to control the quality of a product?
Product quality control is a key step in verifying a product’s compliance. It is essential to ensure that customer expectations are met while also maintaining your company’s reputation.
What is industrial prototyping?
An essential step in the manufacturing process, industrial prototyping ensures the reliability of a part or product. It plays a crucial role in product design and determines large-scale production feasibility. For a company, the industrial prototype is vital for achieving business objectives and meeting customer needs. MWT Sourcing, a specialist in product development, offers a practical guide to understanding this technical expertise and its true value.
How Can a Supply Chain Be Optimized?
The supply chain is at the heart of business activities across all sectors. With the evolution of consumer habits and the globalization of trade, the end customer demands ever-shorter delivery times. Providers, therefore, face new challenges: improving speed in the processes involved and enhancing their performance to remain competitive. Local freight forwarders, tax management and certification, transport, export, import, and customs declarations—here’s what you need to know to optimize the supply chain and make the most of real-time information flows.
How to Find Suppliers for Your Business?
Finding a reliable supplier and building a trusting relationship takes time. However, it is possible to minimize potential negative experiences with a bit of method.
How to Create Your Prototype and Launch Your Invention?
You already know that innovation is the foundation of any entrepreneurial success. Aware of this reality, you aspire to invent a product that doesn’t yet exist—at least not for now. The question then arises: how do you go about it, and what is the first step to take?
Getting the best rates for freight transport
As soon as your business focuses on international trade, you must optimize your freight operations to remain competitive.
What is the EORI number?
The numerous opportunities in international trade offer chances to grow your business but also come with several risks that need to be understood, identified, and managed. You may have never heard of the EORI number, yet it is an essential code that must be used to import or export goods within Europe, regardless of your industry or area of expertise.
What is a certificate of origin?
The certificate of origin is one of the essential documents in the world of international trade. In any import/export operation, understanding the ins and outs of this tool allows you to optimize your operations and avoid complications during the import or export of your goods.
How to Find a Sourcing Agent?
Finding a sourcing office that meets your needs can feel like a long and challenging journey filled with obstacles. Yet, the added value it provides in sourcing competitive products and services represents a significant advantage for your business. Minimizing risks is its primary function in supplier management. The question is how to find the ideal sourcing agent who can meet your specific needs. We will assess the importance of a competent sourcing agent’s role and the associated costs; identify the criteria to guide your selection; and finally, outline best practices to maintain optimal communication with this strategic partner for your business.
How much does shipping from China to France cost?
L’importation de marchandises depuis la Chine vers la France est un processus qui peut varier considérablement en termes de coûts. De nombreux facteurs influencent ces frais, allant des choix logistiques aux formalités douanières. Comprendre les étapes essentielles pour réussir vos importations vous permet de mieux anticiper les dépenses et d’optimiser votre chaîne d’approvisionnement. Voici un tour d’horizon des principaux éléments qui impactent le coût d’une expédition entre ces deux pays.
What is an OEM?
OEM stands for Original Equipment Manufacturer. It refers to companies that produce goods on behalf of another company, which then markets them under its own brand. This model is widely used in key sectors such as industry and technology. Explore the key characteristics of OEMs and the benefits of partnering with this type of business.
What is the DDU Incoterm?
The incoterm DDU (Delivered Duty Unpaid) is one of the terms used in international trade to define the responsibilities of the parties involved in a transaction. If your business imports or exports goods, understanding what this incoterm entails is crucial to optimizing your logistics processes and costs.
Minimum Order Quantity or MOQ: Definition
The MOQ, or Minimum Order Quantity, is one of those key concepts in trade. Definition and benefits—here’s everything you need to know about it, along with our tips for negotiating this parameter to your advantage.
What is the DDP Incoterm?
In the field of international trade, Incoterms are essential tools for defining the responsibilities of sellers and buyers during international transactions. Among these standardized terms, the DDP Incoterm (Delivered Duty Paid) is one of the most comprehensive, as it places the majority of responsibilities on the seller.
What is Supplier Sourcing?
Supplier sourcing is a critical challenge for businesses. In a globalized context, the pool of potential commercial partners has grown exponentially, bringing opportunities to increase profit margins while optimizing the supply chain. To ensure you secure the best contracts with your suppliers, sourcing is the ultimate solution. Discover its key features and benefits.
What is the EXW Incoterm?
When engaging in international trade, it’s well known that Incoterms play a major role in exchanges between sellers and buyers. These standardized terms clearly define the responsibilities and obligations of each party regarding transportation, costs, and risks. Among these Incoterms, the EXW (Ex Works) term is one of the most commonly used, particularly for transactions where the buyer assumes the majority of logistical responsibilities.
What is the FOB incoterm?
Incoterms are commercial terms defined by the International Chamber of Commerce (ICC). They govern the conditions of international goods sales in terms of transportation, customs, insurance, and delivery. The FOB (“Free On Board”) incoterm is one of the most commonly used terms, particularly in maritime transport. Discover all the key information you need to know about this regulation.
COGS or Cost of Goods Sold: Definition and Calculation
The term COGS is the acronym for “Cost of Goods Sold,” which means “coût des marchandises vendues” in French. This accounting element is essential for understanding a company’s financial performance. What does this calculation entail? What does it reveal? What are its applications? Here’s everything you need to know.
What is the CIF Incoterm?
Incoterm CIF: Definition The incoterm CIF, or “Cost, Insurance, and Freight,” is a contractual clause used in international […]
What are the dimensions of a container?
To maximize the shipping cost of your goods, it is important to choose the right container size. What are the different available sizes? What criteria should be prioritized to find the optimal dimensions? Here’s everything you need to know about this topic.