refers to a business or organization attempting to acquire goods or services to accomplish the goals of its enterprise. Though there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations. Typically the word “purchasing” is not used interchangeably with the word “procurement”, since procurement typically includes expediting, supplier quality, and transportation and logistics (T&L) in addition to purchasing. The usual terms are to make a 30% deposit to the factory/factories for the goods. The balance is then paid once goods have passed our quality control checks and delivered to our warehouse ready for export. Upon receipt of the goods we will pay the remaining 70%. Smart importers structure payments to factories contingent on certain goals being met.
- Construct a negotiation plan that leads to profitable business – not empty promises.
- Develop and maintain value-adding relationships and networks.
- Find the right partners – and keep them loyal.
- Protect your technology, intellectual property and assets.
- Identify and leverage your sources of power.
- Understand what Chinese negotiators really want – and what they really mean.