Buying and sourcing from Spain. What to import and how to procure?

Buying and sourcing from Spain. What to import and how to procure?

International business in Spain

Spain: coming from far but recovering

The Spanish economy is the fifth-largest in Europe behind Germany, United Kingdom, Italy and France; and the fourth-largest in the Euro zone, based on nominal GDP statistics. The 2008 financial hit Spain really hard, especially in the then flourishing property sector. The economy is now growing steadily and the country is recovering, but unemployment is still around 16%.

Spain is one of the bigger exporters in the world, with huge quantities of agricultural products like olives and strawberries. Also tourism is a large source of income for Spain.
How to find the right supplier and how to ensure that you get what you want, without any problems? Follow these guidelines for success.

Buying something and sourcing is something different

Buying something is mostly easy, if you know the supplier already. Sourcing is the process of finding the right supplier, who can either be a manufacturer, importer or distributor. And sourcing is all about getting the right pricing and delivery conditions.

Have a good procurement strategy in place

Procurement is the overall process of sourcing and buying (or purchasing). You should have a process in place, to optimise the balance between the effort in finding the right sources and negotiating a lower price, and the pricing itself. Typically for larger purchases, it makes sense to do a broad search and, especially where it comes to searches abroad, to hire somebody to do the sourcing for you.

Select the right manufacturers and double check

Before you start ordering complex products or large quantities, make sure that you check your source. If you don't go there yourself, then send somebody trusted, preferably who understands the local language and knows the local situation.

Check the export and import procedures

Import duties can limit the financial advantage of sourcing abroad. And customs formalities can further increase shipping times. Therefore check in advance whether the country that you are planning to source from and the applicable duties.

Alliance experts can help you find the right supplies abroad

Alliance experts is a global network of business development specialists. We are active in all important economies around the globe and meet many manufacturers and trading companies. With our international team we can relatively easy look for suppliers abroad who can provide you with a unique product features or a lower cost price.

 

This entry in temporary was updated on June 17, 2018 by Tanushka.