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Global Sources' e-sourcing program helps buyers and suppliers reduce costs, shorten the buying process

Posted on: Thursday, 16 April 2009, 02:30 CDT

HONG KONG, April 16 /PRNewswire-Asia-FirstCall/ -- Global Sources (Nasdaq: GSOL) ( http://www.globalsources.com/ ) now offers videoconferencing as part of its e-sourcing service to help buyers and suppliers further reduce costs and accelerate the sourcing process.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030303/LNM011LOGO-b )

Global Sources' Chairman and CEO, Merle A. Hinrichs, said: "Launched in January, e-sourcing has been helping buyers in emerging markets contact pre-qualified suppliers in China. At the same time, the service is helping our supplier customers diversify and enter new markets. Now with the option of videoconferencing, prospective trading partners will be able to do business even more efficiently.

"As buyers and suppliers strive to lower travel and other costs, e-sourcing offers the ideal platform to facilitate highly efficient, high quality trading opportunities. e-sourcing is particularly ideal for buyers without a buying office in China."

e-sourcing is a four-step online process. First, participating buyers provide Global Sources with product categories and supplier selection criteria. Suppliers with relevant products can then submit their applications online. Next, Global Sources sends shortlisted supplier profiles to buyers. Finally, suppliers and buyers meet online and negotiate virtually by videoconference.

Suppliers can conduct these meetings from Global Sources' sales representative offices across China. Buyers may participate from the privacy of their own offices or meet suppliers face-to-face in Global Sources' China sales representative offices during sourcing trips.

Maria Kormshchikova, Manager of the Foreign Trade Department at one of Russia's largest baby and children's retail chains, Mir Detstva / Booble Goom, said: "As we are in the children's products retailing business, the quality of goods we buy from China is very important to us. In today's economy, we face the problem of suppliers intent on cutting production costs, which impacts the quality of products. Thus, we need to find more reliable suppliers in less time.

"e-sourcing gives us faster access to already verified suppliers, helping us save time and lower sourcing costs."

Global Sources' e-sourcing program is a complimentary service for qualified buyers and Global Sources' Verified Suppliers. Buyers and suppliers interested in participating can apply at http://www.globalsources.com/e-sourcing .

Specialized Global Sources websites, face-to-face events and trade magazines

e-sourcing is part of Global Sources' sourcing and product information services. These include Global Sources Online ( http://www.globalsources.com ), the China Sourcing Fairs ( http://www.chinasourcingfair.com ), Private Sourcing Events ( http://www.PrivateSourcingEvents.com ) and Global Sources monthly magazines.

For more information about Global Sources' products and services to connect quality buyers and quality suppliers, visit Global Sources Corporate Information ( http://corporate.globalsources.com ).

About Global Sources

Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business uses English-language media to facilitate trade from Greater China to the world. The other business segment utilizes Chinese-language media to enable companies to sell to, and within Greater China.

The company provides sourcing information to volume buyers and integrated marketing services to suppliers. It helps a community of over 790,000 active buyers source more profitably from complex overseas supply markets. With the goal of providing the most effective ways possible to advertise, market and sell, Global Sources enables suppliers to sell to hard-to-reach buyers in over 240 countries.

The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 4.3 million products and more than 196,000 suppliers annually through 14 online marketplaces, 13 monthly magazines, over 100 sourcing research reports and 11 specialized trade shows which run 32 times a year across 11 cities.

Suppliers receive more than 53 million sales leads annually from buyers through Global Sources Online ( http://www.globalsources.com ) alone.

Global Sources has been facilitating global trade for 38 years. Global Sources' network covers more than 69 cities worldwide. In mainland China, Global Sources has over 2,800 team members in more than 44 locations, and a community of over 1 million registered online users and magazine readers for Chinese-language media.

Global Sources Press Contact in Asia Camellia So Tel: +852-2555-5021 Email: cso@globalsources.com Global Sources Press Contact in U.S. James W.W. Strachan Tel: +1-480-664-8309 Email: strachan@globalsources.com Global Sources Investor Contact in Asia Investor Relations Department Tel: +852-2555-4777 Email: investor@globalsources.com Global Sources Investor Contact in U.S. Kirsten Chapman & Timothy Dien Lippert/Heilshorn & Associates, Inc. Tel: +1-415-433-3777 Email: tdien@lhai.com

SOURCE Global Sources

Source: PR Newswire

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