Today (October 24) at 2:00 pm, with only one eligible candidate for Prime Minister remaining in the Conservative Party (requires nominations from 100 MPs), former Chancellor of the Exchequer Rishi Sunak (Rishi Sunak) ) was elected Prime Minister of the United Kingdom.Sunak is the first minority (Indian) prime minister in British history, and the youngest prime minister since Lord Liverpool took office in 1812. He is only 42 years old. At the same time, he is also the fastest Conservative party member to become prime minister after entering politics. , the full count is 7 years.Source: Daily MailHis opponent Penny Mordaunt tweeted 2 minutes (13:58) before the end of the nomination, saying that he was withdrawing from the race; another popular candidate – former British Prime Minister Boris Johnson (Boris Johnson) voluntarily withdrew from the race yesterday (October 23), so Sunak is the only eligible candidate in the Conservative Party.It seems that Sunak has become the Prime Minister of the United Kingdom by “laying on the win”, but he is not “deserving of his name”. As of 13:20 this afternoon, Sunak has won the support of 193 MPs in the party (a total of 357 MPs in the Conservative Party), that is to say, more than 54% of Conservative MPs have chosen to support Sunak.Source: BBCIn this regard, the chaos of the leaders of No. 10 Downing Street has come to an end, and Sunak, who has rich business resources and political background, will lead the United Kingdom. Who is Rishi Sunak?Sunak was born in Southampton, England in 1980. His parents were Indian immigrants who immigrated to the United Kingdom from East Africa in the 1960s. His father was a general practitioner and his mother was a pharmacist who ran his own pharmacy. Sunak is the eldest son in the family with three siblings.It can be said that Sunak’s background does not have the shadow of the British political elite family in the stereotyped impression. He is an ordinary middle-class family, but his parents attach great importance to his education. Sunak studied at the top four boarding schools in the UK. Winchester College, and was the student representative at the time.Then, Sunak was admitted to Lincoln College, Oxford University, to study philosophy, political science and economics (PPE major), which is one of the ace majors of Oxford University, and many British and world politicians have studied in this major. Sunak graduated from Oxford University in 2001 with a first class degree.Between 2001 and 2004, Sunak, an Oxford graduate, worked as an analyst at Goldman Sachs investment bank. He then worked at TCI, the hedge’s own management company, and became a partner of the company in September 2006. At this time, Sunak had already made great achievements in business.After becoming a partner of the company, Sunak did not stop his pace, but came to Stanford University Business School to study for an MBA. During this time, he met his wife, Akshata Murthy, whose father-in-law was an Indian IT billionaire, the founder of Infosys, known as “Father of Indian IT Industry”.Sunak and his wife Source: BBC In 2009, he resigned from TCI to join Theleme Partners, a new hedge fund firm started by an old colleague with $700 million in capital. Not only that, Sunak also works in Catamaran Ventures, a venture capital firm owned by his father-in-law.In October 2014, Sunak started his political career as a candidate for the Conservative Party in the Richmond area of Yorkshire. Then Sunak “opened up”: in 2015, he became a member of the House of Commons in Richmond, Yorkshire; he was re-elected in the 2017 general election; in 2018, he became the deputy minister of state for local government affairs; in 2019, he was re-elected locally. MP.The then British Prime Minister Boris Johnson appointed Sunak as Chief Secretary to the Treasury on July 24, 2019; on February 13, 2020, when Boris underwent a cabinet reshuffle, Sunak was promoted to Chancellor of the Exchequer (the Chancellor of the Exchequer). ).From a candidate in the local parliamentary constituency to becoming the Chancellor of the Exchequer second only to the Prime Minister of the United Kingdom, Sunak has been promoted at the speed of light in less than 6 years, which is related to his personal talent, professional background and strong network Resources don’t matter.He is also considered one of the richest MPs in the UK House of Commons, although he has not disclosed his worth.Subsequently, the new crown pandemic broke out in the United Kingdom. Sunak, then the Chancellor of the Exchequer, came up with a 350 billion pound bailout plan to help British companies and individuals deal with the new crown pandemic, which was widely praised at the time. His image is also deeply rooted in the hearts of the people, and his personal popularity is also soaring.However, due to dissatisfaction with Boris Johnson’s appointment of Christopher Pincher (the former deputy chief whip of the Conservative Party, who was exposed to molesting a man after drinking), Sunak chose to resign as Chancellor, which eventually led to a vacuum in Johnson’s power. Had to choose to resign, which is also the direct cause of the British two-party election for prime minister in a short period of time.Although Sunak lost to Liz Truss in the first Conservative Party race, Truss’s performance over the past six weeks has been so impressive that he was forced to resign under pressure Prime Minister, and this time Sunak “laid down and won” the election, made history, and became the Prime Minister of the United Kingdom after 7 years of politics.Sunak with members of the 1922 committee after winning the electionSource: Sky News Why did Boris and Mordout drop out of the race:Just this past weekend, Boris Johnson, the former prime minister who led Britain’s exit from the European Union and battled the coronavirus pandemic, announced his withdrawal from the party’s race, even as he claimed to have won more than 100 nominations from his party’s MPs.In fact, Boris Johnson has the
Have Liz Truss’s 44 days in office destroyed 40 years of free market philosophy?
Families who renegotiated their mortgage in the weeks after former chancellor Kwasi Kwarteng’s mini-Budget will be paying an average of over £500 more on monthly bills due to higher interest rates, Labour has said. Interest rates spiked in the wake of the 23 September announcement of £45bn of unfunded tax giveaways going predominantly to the rich, the bulk of which were reversed within the following weeks by prime minister Liz Truss and new chancellor Jeremy Hunt. Kwasi Kwarteng has been sacked as chancellor and replaced by Jeremy Hunt after his mini-budget resulted in financial turbulence and a revolt from Tory MPs. He has become Britain’s second shortest-serving chancellor, lasting just 38 days in the role. The long-time ally of Prime Minister Liz Truss, seen as her political soulmate, was appointed to the role on 6 September. Speaking before Mr Kwarteng became chancellor, one friend told the Times that he and Ms Truss were a bit like “Batman and Robin”, adding: “They are both slight social misfits, amiable geeks, and have strong views which are in tune with each other.” He took over at Number 11 Downing Street at a critical time for the UK economy, with millions looking to him for help with soaring winter energy bills. An Old Etonian who became the first black Conservative cabinet minister in 2021, he read classics and history at Trinity College, Cambridge, and has a PhD in economic history. He is also a past winner of notoriously tough BBC quiz show University Challenge. Kwasi Kwarteng: The basics Age: 47 Place of birth: East London Education: Trinity College, Cambridge and Harvard University Family: Married to solicitor Harriet Edwards with one daughter Parliamentary constituency: Spelthorne (Surrey) Mr Kwarteng’s parents came to the UK from Ghana as students in the 1960s. He was born in East London in 1975, the same year as Ms Truss. His economist father and barrister mother gave him a traditional Ashanti first name, meaning “born on Sunday”, when he was actually born on a Monday. He told the BBC’s Political Thinking with Nick Robinson podcast his parents stayed silent on the matter when he jokingly pulled them up on it. The Church was a strong part of his mother’s life and she was a lifelong Conservative voter. He was just three years old when Margaret Thatcher came to power, and she would remain prime minister until his GCSE year. He has said in the past that his mother deeply admired Mrs Thatcher as someone “who wanted to rely on their own efforts” and has described himself as a “pragmatic Thatcherite”. He attended the exclusive private school Eton College after winning a scholarship there, and went on to graduate with a double first from Cambridge University in classics and history. One well-known anecdote about the young Kwasi Kwarteng harks back to his admissions interview for Trinity College. The self-confident 17-year-old told the tutor, who had arrived late and hadn’t conducted many of these interviews before: “Don’t worry, sir – I’m sure you’ll do very well.” He was part of the Cambridge team which won University Challenge in 1995, although he generated headlines for uttering a swearword after he buzzed in and forgot the answer to a question. He has since questioned how much being good at quizzes “relates to anything in what people call ‘real life’”. Kwarteng’s resignation letter: Dear Prime Minister, You have asked me to stand aside as your chancellor. I have accepted. When you asked me to serve as your chancellor, I did so in full knowledge that the situation we faced was incredibly difficult, with rising global interest rates and energy prices. However, your vision of optimism, growth and change was right. As I have said many times in the past weeks, following the status quo was simply not an option. For too long this country has been dogged by low growth rates and high taxation – that must still change if this country is to succeed. The economic environment has changed rapidly since we set out the Growth Plan on 23 September. In response, together with the Bank of England and excellent officials at the Treasury we have responded to those events, and I commend my officials for their dedication. It is important now as we move forward to emphasise your government’s commitment to fiscal discipline. The Medium-Term Fiscal Plan is crucial to this end, and I look forward to supporting you and my successor to achieve that from the backbenches. We have been colleagues and friends for many years. In that time, I have seen your dedication and determination. I believe your vision is the right one. It has been an honour to serve as your first chancellor. Your success is this country’s success and I wish you well. The prime minister responded as follows: Dear Kwasi, Thank you for your letter. As a long-standing friend and colleague, I am deeply sorry to lose you from the Government. We share the same vision for our country and the same firm conviction to go for growth. You have been Chancellor in extraordinarily challenging times in the face of severe global headwinds. The Energy Price Guarantee and the Energy Bill Relief Scheme, which made up the largest part of the mini budget, will stand as one of the most significant fiscal interventions in modern times. Thanks to your intervention, families will be able to heat their homes this winter and thousands of jobs and livelihoods will be saved. You have cut taxes for working people by legislating this week to scrap the increase in National Insurance Contributions. You have set in train an ambitious set of supply side reforms that this Government will proudly take forward. These include new investment zones to unleash the potential of parts of our country that have been held back for too long and the removal of EU regulations to help British businesses succeed in the global economy. I deeply respect the decision you have taken today. You have put the national interest first. I know that you will continue to support the mission
What is eSourcing?
By medius eSourcing, sometimes referred to as electronic sourcing, describes the use of web-based systems to collect and compare information about several suppliers in order to help the buyer select a preferred provider. The technology offers several benefits; it is designed to assist organizations generate savings from their supply chains, increase visibility of key business information, and reduce the amount of time it takes for procurement professionals to do their day-to-day tasks. How does eSourcing work? Electronic sourcing is a small but important part of the overall eProcurement process. It includes inviting potential suppliers to an RFxtender, collecting supplier information, running Sourcing eventstender processes and/or holding eAuctions, analyzing and evaluating responses, and finally, awarding them with a contract. We’ve detailed the entire process below: Pre-purchase questionnaire –before doing business with any supplier, it is imperative to identify if they’re appropriate to do business with. Organizations achieve this with pre-purchase questionnaires (PQQ), which are detailed documents designed to assess the suitability of a supplier. PQQ’s are common in the public sector, but in other industries, the process can be called request for information (RFI). In the past, procurement teams would have to manually fill out these documents by hand or in software such as Microsoft Word or Excel. With electronic sourcing, the process is streamlined, as suppliers can upload their answers into the eSourcing software, which is distributed directly to the business. It allows organizations to collect information from more suppliers in a fraction of the time and ensures consistency of completion Invitation to tender – invitation to tender (ITT), also known as a call for tenders, is a process for generating competing offers from different suppliers. Once they have filled out a PQQ and have been selected to go to the next stage of the sourcing process, suppliers are sent an ITT. The ITT document specifies all the requirements of the organization, including what goods or services are required, as well as outlining a range of information the buyer will require the supplier organization to submit about its own policies, practices, and processes, and how the evaluation process will be managed. Suppliers fill this document out to be taken to the next stage of the procurement process. Request for quotation – in this process, price is the primary factor for choosing a supplier. Buyers send out forms for suppliers, asking all of them to provide prices for the services they can render. Request for quotations (RFQs) can be used prior to an RFI and ITT if a buyer is seeking to understand price ranges in the market. It is worth noting that all three of the steps above are interchangeable. Evaluation – once the requested evaluation formats have been sent and received, an evaluation process takes place, during which the prospective buyer evaluates whether the information a supplier has provided them renders them a viable candidate or not. In the past, this process involved manually sorting through swathes of paperwork, supplied by the suppliers invited to tender. But electronic sourcing changes this – and also provides a sophisticated suite of analytics, dashboards, and tools like automated scoring – allowing users to automate elements of the evaluation process, therefore saving precious time. eAuction – much like RFIs, PQQs, and RFQs, eAuctions can be run at any point in the eSourcing process. It can follow a tender, be used after a tender process, or run as a standalone event for finished goods. Once suppliers have been selected, they are invited to participate in an eAuction – a process whereby suppliers bid on the right to deliver the contract for which they’ve been invited to tender. Many eSourcing tools offer different eAuction types, each with unique benefits. Auctions are designed to encourage prospective suppliers to compete with one another and, as such, deliver the best possible deal for procurement professionals. Contract award – once the tendering processes and/or eAuctions have concluded, and a buyer has been selected, a contract is awarded to the winning supplier. Elements of this process can be automated, automatically sending the winning bidder a contract. Benefits of electronic sourcing eSourcing provides businesses with a wealth of benefits. We’ve listed some of the most common below: Reduces costs: by accessing a broader range of suppliers and leveraging different eAuction strategies, eSourcing presents significant cost savings for procurement teams. Saves time and boosts efficiency: electronic sourcing also speeds up the time it takes to award a contract. It does this by reducing the amount of time procurement specialists spend on the tendering process, and therefore, freeing up time to spend on other tasks. Leverage detailed supplier information: eSourcing improves transparency between buyers and suppliers. By using a portal, teams can view all tender opportunities from a supplier, including deadlines, status, and other key information. Bolster compliance: since all procurement-related documents are stored in one place, auditing is made simpler – as is compliance with regulatory procedures, with a system transparently displaying how and why a supplier was selected.
What is OEM and ODM? Where does Samsung / Apple produce their device?
What’s OEM? What’s ODM? Difference between OEM and ODM? What is an Original Equipment Manufacturer (OEM)? An Original Equipment Manufacturer or OEM is a company that manufactures and sells products or parts of a product that their buyer, another company, sells to its own customers while putting the products under its own branding. OEMs commonly operate in the auto and computer industries. An OEM is often the direct client of a retail company that sells directly to consumers. For instance, a Lenovo laptop computer’s parts aren’t all manufactured by Lenovo. Some parts, such as its processor or memory module, may be the products of an OEM. Original Equipment Manufacturer vs. Value-Added Reseller Essentially, Value-Added Resellers or VARs sell products from an OEM but incorporate certain added features before doing so. The two share a mutually beneficial relationship, as VARs help OEMs sell their products and OEMs entrust their products to VARs, allowing them to sell them with more features that will enhance the operation of the products. Original Equipment Manufacturer vs. Aftermarket While an Original Equipment Manufacturer produces original equipment, an aftermarket manufacturer, on the other hand, makes products that are made to look like and work interchangeably with those of the OEM. In simpler terms, the parts are not original products because they’ve been manufactured by companies, locally-based or foreign-based, without approval from the OEMs to produce such products. Though usually cheaper, the products are not guaranteed to function as well as the OEM product. Example of an Original Equipment Manufacturer To better illustrate how OEMs work, let’s consider an example. Say Company A is into manufacturing memory cards. They will not produce only one type of the product but several versions of it, which are then, in turn, sold to various computer manufacturers/retailers. Those companies are value-added resellers who market directly to the public. Other Characteristics of an Original Equipment Manufacturer 1. OEMs sell licenses OEMs typically sell product licenses to use their parts to the value-added resellers they market to. 2. OEM for hardware Hardware can be easily bought off the internet, whether from a retail product manufacturer or through an OEM. However, OEM hardware is usually shipped incomplete of parts such as cables and adapters that are necessary for the installation and operation of the hardware. 3. OEM for software OEM software, like the hardware, usually doesn’t come with a lot of stuff, except for the basic software and its license key. Benefits of Buying Original Equipment Manufacturer Products Here are some benefits one gets from buying OEMs: 1. Good quality And why not? After all, an OEM product is the same product manufactured by the original manufacturer. Though there are cheaper versions, the price of the OEM product reflects its quality. 2. Durability Such products are usually not only of good quality but are also durable. For example, when buying a spare tire, an OEM tire is typically better than getting an aftermarket tire because one can be sure of the materials used in making it. 3. Lifespan OEM parts often have a longer lifespan than aftermarket parts. ODM (Original Design Manufactures) Let’s now come to the concept of ODM. Suppose you have ideas for your product; That can be done at this in your product; But you do not have the design. Then you go to a company and tell your idea; And told them to make the device or product what it would be like to create. Then the company or ODM will tell you yes we have designed this or the product can be like this; This way they will showcase various designs in front of you. Then you will order if you like; Then you will give that logo; The box that will give you the motherboard, they will produce the product and give it to you. But there is no control or ownership of design here. Here’s all the patents of the design that are near the ODM. For example, Quanta can be named; Those laptops like Dell, HP, and Lenovo have prepared laptops. Now Dell will make their Inspiron model’s new laptop; Here they can not take any decision from themselves. They will have a meeting with Quanta to tell them, look at this idea of us; Now you say how it can be made. Then the Quanta laptop is ready; Dell is marketing it. Rebound and Copied Products (ODM Products):Now the concept of a copy or a rebranded phone; What actually happens there is that. Your company needs a new phone; Do you want to go to any ODM? They will show you a complete catalog like a restaurant menu; Then say we have this phone, this is the specification; You said what you need? Now, whatever you like, they will deliver the phone as soon as you want. If you need a logo, the box that you can take it through an ODM. Now suppose Walton copied a phone a few years ago to Gionee’s. In this case Gionee’s ODM was that Walton went to the ODM and the model has ordered [with a refurbished phone] with their logo. Here the ODM is all ready; Because the design patents, the IP is all in them. Then after ordering it came straight from Bangladesh. This is basically the concept of ODM. But here is the R & D or the topic of research and development; That is not being done on the client side. Apple is now making its own process by faxing it, and it’s a different thing; Samosang is the same. But their only concern for the companies of our country; Make our phone; China’s ODM phone can not be made by making them money; After that we will do that marketing; Do business. Now if we look at the online stores; But I see a lot of VR Glass; Design is different from the same price and the company name is different. Here’s the VD Glass of ODM of the same design; They are just making it for different
CNH vs CNY: Differences Between the Two Yuan
By DailyFX CNH VS CNY TALKING POINTS: What is CNH and CNY and what are the main differences? CNH refers to the Chinese Yuan in the offshore market , which is outside of Mainland China (the onshore market). China’s capital markets, including the FX market, are controlled and not fully opened yet. This leads to different features of the Chinese currency in the onshore and offshore markets, and thus two tickers are assigned to distinguish them. In the onshore Mainland China market, the Chinese Yuan is called CNY . On the other hand, t he offshore market includes traditional Yuan centers, such as Hong Kong (a s pecial administrative region of China), Singapore, London and newly-developed centers such as Luxembourg. Find out more on the differences between RMB, Yuan, CNH and CNY? THE HISTORY OF CNY USD/CNY Price Chart from 1992 to 2018 Data downloaded from Bloomberg; chart prepared by Renee Mu . 1994 – 2005 : A sole CNY rate was formed , signalling the start of China’s modern foreign exchange rate system . Before 1994, China had two CNY rates in the onshore market, an official rate and a market rate. The spread was significant. For example, at the end of 1993, the official USD/CNY rate was 5.8 while the market rate was 8.7. On January 1, 1994, the dual-track exchange rate system was ended, with the two CNY exchange rates merged into one. 2005 – Mid 2008 : The CNY flexibility was increased. On July 2, 2005, the USD/CNY was strengthened by +2.1% from 8.2765 to 8.1100, following China ‘s Central Bank launching a managed-floating exchange rate regime. Under the new system, the Central Bank loosened Yuan’s pegging against a sole currency – USD , and introduced a basket of currencies as the new reference. Read More: What is China’s managed-floating exchange rate regime? Mid 2008 – 2010 : The CNY was re- pegged to the USD , f ollowing the eruption of the global financial crisis in the mid of 2008. This was used as a measure to protect China’s international trade during the crisis. The USD/CNY was restricted in a narrow range between 6.81 and 6.85. 2010 – Aug 2018 : The CNY reform was resumed. The flexibility in the Yuan was increased again after the financial crisis. On April 16, 2012, the CNY daily trading band was raised from 0.5% to 1%. Then, it further expanded to 2% on March 17, 2014. Aug 2018 – Today: The CNY was de-pegged against the USD and referred to a basket of currencies again. On August 11, 2015, China’s Central Bank weakened the daily CNY fixing (Yuan’s reference rate) by -1.82% to 6.2298, starting a new round of reforms on the Chinese currency. On December 11, 2015, the PBOC introduced CFETS Yuan Index , a reference for the CNY price. As of today, China has continued to adopt the managed-floating exchange rate regime in the onshore market. The USD/CNY remains to be the top pair among all Yuan pairs and has the highest trading volume; at the same time, China’s Central Bank also looks to other CNY pairs when guide the onshore Yuan rate. THE HISTORY OF CNH USD/CNH Price Chart from August 2010 to August 2018 Data downloaded from Bloomberg; chart prepared by Renee Mu . 2004 – 2010 : Preparation Phase for CNH. The CNH has a much shorter history than the CNY. The letter “H” in CNH was originally referred to Hong Kong, the first offshore market for the Yuan. From 2004, Hong Kong began to introduce Chinese Yuan business, such as trade settlements in the Yuan. 2010 – T oday : CNH was launched and in use. On July 2010, China’s Central Bank (PBOC) and Hong Kong Monetary Authority signed the revised clearing agreement on the Chinese Yuan, marking a milestone for the offshore Yuan development. On August 23, a quote on the USD/CNH was launched, signalling the start of the Chinese Yuan trading in the offshore market. WHAT IS THE DIFFERENCE BETWEEN CNY AND CNH IN TRADING? It is important for traders to understand the difference between CNY and CNH. Fundamentally, the CNH, traded in the offshore market, is considered to be less controlled and more market-driven than the CNY. This makes it more like a free-floating currency than the CNY, and a better choice for speculative trading. USD/CNH vs USD/CNY Price Chart from August 2015 to August 2018 Greater volatility is more likely to be seen in the CNH than the CNY when they respond to the same event. For instance, from May 2018 to August 2018, both the USD/CNH and the USD/CNY rose from a 15-month low to high, largely driven by the US-China trade war . The USD/CNH advanced from 6.2358 to 6.9587 while the USD/CNY increased from 6.2419 to 6.9347. New to f orex trading ? Download the DailyFX Free Trading Guide to learn how to put ideas into action. CNH/CNY SPREAD & CHINA’S FOREIGN EXCHANGE RATE POLICY The CNH is normally slightly weaker than the CNY based on the historical record. A widened spread is often correlated with Yuan’s weakness, especially when a fast-falling Yuan price is seen. CNH/CNY Spread: One Week This is because China’s foreign exchange policy is to gradually increase Yuan’s flexibility while keeping the Yuan relatively stable and at reasonable levels. When massive Yuan shorts are seen, the PBOC tends to calm down the market through measures such as the daily reference rate. These measures normally will first work on the onshore Yuan (CNY) and then take some time to impact the offshore Yuan (CNH). As a result, an elevated spread could emerge. Follow the DailyFX Economic Calendar for live events that can drive Yuan moves. READ MORE ON CNY and CNH — Written by Renee Mu, Currency Analyst with DailyFX
The Complete China Sourcing Agents List
The sourcing agent in China performs many roles to offer the best sourcing service. Buyers often have specific product requirements. So, the first thing that the sourcing agent does is understand these requirements. After that, the China sourcing agent support market research to finds qualified suppliers for the product. Moreover, they take care of the communication happening between you and the supplier. Sourcing companies can also offer many other services. It includes price negotiation, monitoring the production process, and quality inspection. Some of them also provide services such as shipping and logistics. China Sourcing Agent 1.0 As the name suggests, it is an old version of the sourcing agent in China. The sourcing agent works almost like the new version but lacks the latest technology. China sourcing agent 1.0 only provides some simple procurement and communication services, which are not diversified and customized. Moreover, you will be dealing with a sourcing company as a whole. That means you may not get a dedicated sourcing specialist to solve your concerns. China Sourcing Agent 2.0 It is the latest version of the China sourcing agent. You get a full-time, dedicated sourcing specialist to attend to your needs. Your account manager will be well-versed in the Chinese market. Besides regular sourcing services, you will also get some additional services. It includes customization, labeling, packaging, OED, ODM, etc. China sourcing agent 2.0 is suitable for small and medium ecommerce business owners. If you are a Shopify, eBay, or Amazon FBA seller, go for China sourcing agent 2.0.A professional China sourcing agent 2.0 can offer the following services. Finding the right suppliers for products Carrying factory audits to ensure a stable manufacturing process On-time quality inspection Complete logistics and shipping support Negotiate the price and plan contracts with the right suppliers Reduce the risks involved in product sourcing Extra customization services 1. China Purchasing Agent If you want the first reversion and hassle-free sourcing agent, China Purchasing Agent is your go-to agent. This company is verified and based in Shenzhen. They are committed to offering product sourcing services to help customers discover authentic suppliers from China. China Purchasing Agent provide an assortment of services to ensure the well-timed delivery of the products.In order to make the purchasing process of the customers a lot more comfortable. China import agent gives 2 trial orders for free, after that, all other orders are priced a 3% service fee. This is a wonderful deal for the buyers. Above all, their negotiation skills are extremely powerful that they go beyond the expectations of the customers. Their strategy is to allow various suppliers to bid for the customer’s orders.Then they select the reliable supplier in accordance with the specifications and budget of the customer’s orders. Services overview Quality and standard inspection Storage warehousing Amazon FBA facilities Logistics Custom clearance Recommended reason China Purchasing Agent assists Amazon sellers along with small and medium-sized businesses. Contact China Purchasing Agent Now 2. Meeno Group Meeno Group is also an expert sourcing agent that is situated in Yiwu, a city in China. The founder of the Meeno Group is Max, who is highly professional and runs the company’s processes smoothly and efficiently. Service overview Meeno Group offers a complete sourcing service in China. In addition, their services are quality inspecting, product search, sourcing goods in China, recognizing trustworthy suppliers and manufacturers, depot storages, custom clearances, repackaging, and shipping administration. Recommended reason If you are a small importer looking for a trusted agent in order to save your time along with cost, contact Meeno Group now. Contact This China Buy Agent Now 3. Imex Sourcing Services Imex sourcing agent provides a wide assortment of sourcing facilities. The headquarters of its parent company that is IMEX Liaisons is located in Guangzhou, China. The company gives access to customized online portals to the client. This makes easier for the client to track and manage the process of sourcing orders. Imex promises to provide better pricing with a committed group of employees. They even allow accessibility to a huge network of floor-level factories. Service overview Detailed sourcing Vendor background attestation Inspect quality Factory audits Quality maintenance Risk mitigation service Agreement negotiating Samples consolidation Logistics Product evolution shipping Recommended reason Medium or large enterprises, engineering businesses. E-Commerce websites like Amazon, Shopify, and eBay. Contact This China Sourcing Agency Now 4. Sourcing Bro Sourcing bro is an agent situated in Shenzhen, China. This sourcing agent is the center of attraction of the worldwide trade service. For the reason that it provides a large number of products to customers throughout the world. The founder of Sourcing Bro, Jack contains an immense experience in Shenzhen markets. Service overview Product source Quality inspection and control Warehousing The services they provide are professional. Since Sourcing Bro assist during all shipping processes to make sure the customer receives their parcels safely. Recommended reason The best alternative for every large, small, or product creation enterprises, who value a productive supply chain management. Contact Sourcing Bro Now 5. Dragon Sourcing Dragon Sourcing is a global sourcing and acquirement, service agent. This is one of the biggest sourcing enterprises since it has offices worldwide, such as in the United States, Turkey, Austria, South Africa, Vietnam, United Kingdom, Brazil, Italy, and Kenya. Dragon sourcing have their offices in Hong Kong, and Shanghai, China as well. With their international footmarks, Dragon sourcing offer better alternatives for economical countries with the help of its expanded range of manufacturers. Dragon sourcing was established in 2004; however, within 10 years, it expanded its reach throughout Asia. Therefore, it is a respectable and esteemed sourcing agency with positive feedback from its online customers. Service overview Supplier verification Product source Procurement source Samples development Negotiating and order administration Quality checks Logistics and shipping Recommended reason It is suggested for small, medium, and multinational businesses that want to acquire offerings for exporting in the upcoming markets. Contact Dragon Sourcing Now 6. Guided Imports Guided Imports has solved the most recognized
Top 20 Best Sourcing Companies and Agents in China
You have tried importing products from China. How was the experience? It’s overwhelming, right? Don’t worry! This is where the best China sourcing company can come into play. Perhaps, you have tried searching China sourcing agents. There are many options, isn’t it? Maybe, you experience a hard time making decisions with confidence. What are you going to do next? Well, you came to the right place! In this article, you will know how to find a reputable and trusted China sourcing agent. Now, fasten your seat belts, we are about to take off! Do you want to be included? Contact us and we’ll set up a time to chat. Best Chinese Sourcing Company to Consider this 2022 1.Quik Sourcing Have you been searching for a one-stop China sourcing company for months now? The long wait is finally over with Quik Sourcing. Established with the client’s convenience and satisfaction in mind, Quik Sourcing will help you find reliable factories at a low cost, enabling you to save some cash in the long run. What makes Quik Sourcing different from others is that they tailor their services according to your unique needs and expectations. They believe every client is different. That’s why individualized and customized services are available in the comfort of your home. Similar to other sourcing companies in China, Quik Sourcing is backed by world-class, talented, and highly capable professionals. More than the experience, the commitment of every staff is on a different level. They are approachable, friendly, and accommodating. Who says sourcing products from China can cause a dent in your savings account? At Quik Sourcing company, they negotiate on your behalf with a goal to beat prices. This means you can enjoy high quality products while saving some cash over time. Once the project begins, the company’s sourcing agent will search as many suppliers in China. From affordability to quality, you can be sure your first sourcing experience will be a big success. Services Product sourcing, consulting, and manufacturing Product sample customization Import and export, compliance consulting company Price negotiation with potential and trusted suppliers in China Why Choose Quik Sourcing They are not only a china sourcing company. They can be your sourcing partner. The services are catered to the client’s needs and requirements. Seamless procedure. They search for suppliers in China, assess the cost for production, understand shipping, provide product samples/consulting services, and verify supplier. The company customer support is fantastic. Customer representatives are professional and knowledgeable. Lowest and most competitive prices. Sourcing products in the country come at a low cost. Looking for a China sourcing company? Quik Sourcing should be on top of your list. Contact them for more information! Which sourcing company that best suits your objectives and requirements? Quik Sourcing has been established to turn your goals into a reality. Visit Quik Sourcing 2. Meeno Group Located in Yiwu, China, Meeno Group is another sought-after sourcing company tailored for both domestic and international clients. Serving the sourcing industry for years now, Meeno Group is reputed for experienced and talented professionals in China. Max, the founder, has propelled the company to attain high levels of professionalism, great work ethics, integrity, and excellence. Despite the demand from the Chinese market, Meeno Group has a smooth and efficient procedure, enabling them to meet the changing demands of their valued clients across the globe. Services Thorough and convenient sourcing solutions in China, exceeding the market’s requirements and objectives. High quality inspecting company Product search Sourcing goods Recognizing trustworthy manufacturers and suppliers Depot storage Repackaging Custom clearances Shipping administration Manufacturing solutions Why Choose Meeno Group? Perfect for a small importer or company that’s looking for a reliable agent in China. Sourcing products from Chinese companies will save time and avoid unnecessary costs. They never take shortcuts. They consider every aspect of sourcing. The team is superb and professional. 3. Imex Sourcing Services Another Chinese sourcing company to take advantage of is Imex Sourcing Services. Similar to other Chinese sourcing agents in China, Imex Sourcing Services provides a wide range of sourcing facilities. IMEX Liaisons, its parent company, is situated in Guangzhou, China. What sets it apart from the competition is that they give clients full access to customized online portals. For this reason, it makes it easier for businesses to track or even manage the process of sourcing orders. Since day one, China Imex Sourcing Services is committed to providing competitive prices and incredible customer support. Whether you’re no longer happy or satisfied with your existing sourcing agent, Imex Sourcing Services has been established for you. Services Detailed and careful sourcing company Vendor background attestation A quality inspection that meets the industry’s highest standards Factory audits with a high level of accuracy Quality maintenance Agreement negotiating Risk mitigation service Logistics Product evolution shipping Why Choose Imex Sourcing Services? It is perfect for e-commerce of any size. From small, medium-sized to large businesses, Imex Sourcing Services will be your best bet. Suitable for popular platforms, including eBay, Amazon, Shopify, and other trusted platforms. 4. Sourcing Bro As the center of trade service around the world, Sourcing Bro is another company you cannot afford to miss. From a number of products to a team of experienced professionals, this sourcing company has them all. Sourcing Bro is located in Shenzhen, China. Services Product sourcing. Quality and low cost products will be accessible and available. Quality inspection and control. The team inspects products at its best, taking quality control to another level. Warehousing. You can be sure the warehousing services are professional and developed according to existing rules and regulations. Why Choose Sourcing Bro An excellent alternative for small, medium-sized, and large product creation enterprises. Deliver parcels with a higher level of safety and peace of mind. Quick response time. In fact, the company is just a call away. The staff is friendly and professional. They can accommodate all your needs and concerns right away. Quick services. There’s no delay. 5. Dragon Sourcing Your friends have probably been recommending Dragon
MOQ – Minimum Order Quantity
by shipbob.com Minimum Order Quantity: How to Calculate MOQ for Your Ecommerce Business & Tips on Navigating Them In the world of ecommerce, inventory is typically a business’s greatest asset. You want to have enough of it so that you can meet demand but not so much that you can’t sell through it. Purchasing inventory or raw materials isn’t always so simple. Not only do you need to find a manufacturer that sells the right supplies at the right price but also one that allows you to order an optimal amount of units. Many manufacturers institute a minimum order quantity (MOQ) to get you to commit to buying enough so they can be cost-effective in production and make a profit. It’s why you buy a dozen eggs at once rather than a single egg at a time. However, your ideal unit count or reorder quantity may not match your manufacturer’s MOQ, which is one of the joys of running an ecommerce business. Of course, the suppliers you work with may change over time, as will your production runs. Your first 20,000 units may look very different from the inventory of your 1 millionth unit — not just in terms of the physical product itself but your cash flow, profitability, and financial health. In this article, we’ll give an overview of minimum order quantity, take a look at some vital factors to consider when calculating MOQ requirements, and provide tips on how to make the most of MOQs. What is minimum order quantity (MOQ)? Minimum order quantity is the fewest number of units a business wants to sell to a customer at one time. In ecommerce, it’s most often used by a manufacturer or supplier in the context of a production run, though a merchant can put MOQs in place for different types of orders. A couple examples: A supplier’s MOQ may be 1,000 units, meaning you can buy no less than 1,000 units of inventory at a time. Similarly, a brand may have an MOQ requirement for wholesale or retail partnerships, where they require a minimum of 50 units or $500 worth of product to be purchased together. How to calculate minimum order quantity in 4 steps There is no one right MOQ amount, as many businesses have different requirements. Of course, there is often a tradeoff between having a higher MOQ or paying a higher price per unit. While there isn’t a go-to formula for calculating minimum order quantity, you can use the steps below as a starting point. 1. Determine demand As a merchant purchasing inventory, demand forecasting takes product type, competition, seasonality, and other factors into account in estimating how many units you will sell. This data can help inform your next purchase order. Inventory forecasting goes hand in hand, to match supply with demand in this equation. You may find the minimum order quantity wanted from the manufacturer isn’t far off from what you’ll sell through. You’ll also want to account for your total timeline to get the inventory ready to ship, including lead times, freight transit times, warehouse receiving with your third-party logistics service provider (3PL) , and other potential delays, as you may realize you need to order inventory sooner than anticipated. A few tips on monitoring demand especially during volatile times: Be in constant talks with your supplier(s). Make sure you have enough safety stock to manage any large fluctuations in demand. Review sales forecasts weekly, if not daily, to adjust production quantities. 2. Calculate your break-even point If you’re trying to establish a minimum order quantity of your own, you’ll need to know your break-even point. This may happen on the second transaction for DTC orders, when you recover the customer acquisition cost and your customer comes back through email marketing efforts. For wholesale relationships, consider what the lowest per-unit dollar amount you’re willing to charge in exchange for a higher order value. It can’t be so low that your profit margins are next to nothing, but volume discounts are expected if you’re not just paying for smaller quantities at a higher price. 3. Understand your holding costs Some products are more expensive to store than others (due to size, duration of storage, and special warehousing requirements). It’s financially beneficial to ensure such items are not kept in your inventory for too long. Your inventory holding cost is the true cost of storing all of your products and something you must consider before investing too heavily in inventory. 4. Come up with your MOQ Let’s say that you consistently have relatively high demand. Your partners purchase 200 units per order on average, and you need to sell at least 150 units per order to be profitable. If your partners or customers have been willing to buy 200-unit orders in the past, you could set 200 units per orders as your minimum order quantity, or even go down to 150. How to make the most of minimum order quantities MOQ terms may seem awful when you’re on the purchasing side but awesome when you’re on the selling side. Many ecommerce businesses work with manufacturers that have minimum order quantity requirements in place, and some brands will be in the position of implementing their own MOQs through wholesale partnerships or minimum spend thresholds. No matter where you are, here are some tips on how to work with MOQs. Incentivize a higher spend on your orders If you’re getting into wholesale or retail, you can require MOQs for bulk buyers to help ensure retailers pay you a minimum amount. In exchange for a minimum spend, you may choose to offer order volume discounts, where you charge the retailer less per unit in exchange for a higher guaranteed overall spend. Also, you can adjust the prices to help incentivize higher spend. To do this, you need to set MOQ based on volume or cost. For low-cost items, you need to set a higher MOQ. This ensures you make a profit. For higher-cost items, having lower MOQ works, as the items are already more expensive. Following this strategy helps you make
USD/JPY Price Analysis: Buyers react to a bullish-doji in the daily chart
NEWS | 8/12/2022 8:56:39 PM GMT | By Christian Borjon Valencia Share on Twitter Share on Facebook Share on Linkedin Join Telegram Based on a softer US inflation report, USD/JPY climbs during the week by 1.14%, after a volatile last three days. USD/JPY is neutral biased, but a doji emerging in the daily chart could pave the way for further upside. In the near term, the major is sideways, though oscillators point upwards, so it is slightly skewed to the upside. The USD/JPY slightly climbed on Thursday following the release of the University of Michigan Consumer Sentiment for August, which exceeded estimations, but consumer expectations of inflation remained mixed. Nevertheless, it was not an excuse for investors seeking return, shifting toward riskier assets, to the detriment of safe-haven assets. At the time of writing, the USD/JPY is trading at 133.48 above its opening price by 0.39%. USD/JPY Price Analysis: Technical outlook The USD/JPY daily chart portrays Thursday’s price action formed a doji, preceded by a downtrend, indicating that the downtrend is losing steam. Worth noticing the Relative Strength Index accelerated its uptrend to the 50-midline, showing that buying pressure is picking up. Nevertheless, the major remains sideways unless buyers reclaim the 50-day EMA at 135.29. In the near term, the USD/JPY hourly chart the pair as neutral. However, price action since late Wednesday shows that the pair has begun trading upwards, but at a steady pace, as shown by the Relative Strenght Index (RSI), which could mean some things: USD/JPY shorts booking profits, after a stellar run of 700 pips downwards, and buyers slowly beginning to add to their longs, in speculation of higher US 10-year bond yield rates. Therefore, the USD/JPY is sideways. Upwards, the major’s first resistance would be the confluence of the 100 and 200-hour EMAs at 133.84-85, followed by the 135.00 figure, followed by the August 10 high at 135.30. On the flip side, the USD/JPY first support would e the 50-hour EMA at 133.07. The break below exposes crucial demand zones, the August 11 pivot low at 131.73, followed by the August 2 low at 130.39. USD/JPY Hourly chart
GBP/USD bears flirt with daily low, just above 1.2100 mark amid stronger USD
NEWS | 8/12/2022 1:46:40 PM GMT | By Haresh Menghani Share on Twitter Share on Facebook Share on Linkedin Join Telegram GBP/USD witnessed heavy selling on Friday amid a strong pickup in the USD demand. The uncertainty over the size of the Fed rate hike prompts some USD short-covering. The BoE’s gloomy economic outlook undermines the GBP and contributes to the slide. The GBP/USD pair comes under renewed selling pressure on Friday and drops to the 1.2100 neighbourhood during the early North American session. The US dollar makes a solid comeback on the last day of the week and moves away from its lowest level since late June touched the previous day. This turns out to be a key factor exerting downward pressure on the GBP/USD pair, which fails to benefit from mostly better-than-expected UK macroeconomic releases. The Preliminary GDP report, however, showed that the UK economy contracted by 0.1% in Q2 as compared to the 0.8% rise in the previous quarter. The dismal figure validates the Bank of England’s outlook that a prolonged recession would start in the fourth quarter and acts as a headwind for the British pound. The USD, on the other hand, witnesses a short-covering move amid the uncertainty over the size of the next rate hike by the Federal Reserve. Data released this week showed signs of easing inflationary pressures in the US and forced investors to trim bets for a 75 bps Fed rate hike move in the September meeting. That said, the recent hawkish comments by several Fed officials suggest that the US central bank would stick to its policy tightening path. This, in turn, prompts traders to lighten their USD bearish bets, though a combination of factors could cap gains and help limit the downside for the GBP/USD pair. Nevertheless, spot prices reverse a major part of the weekly gains and remain at the mercy of the USD price dynamics. Next on tap would be the release of the Preliminary Michigan US Consumer Sentiment Index, which might influence the buck and produce some trading opportunities around the GBP/USD pair.
