Uncategorized Archives — Page 3 of 5

BLK Announces Partnership With Indulatex

Glasgow Tech E-procurement Startup to Source 4 Key Chemical Commodities

BLK – the raw materials marketplace – and Indulatex – Portugal’s leading producer of reference of latex compounds and industrial adhesives – today announced a strategic partnership aimed at increasing supply chain flexibility and maximising transparency around pricing for key chemical commodities.

The alignment of vision between Indulatex and BLK, centered around transparency and efficiency, converged in the adoption of BLK as the go-to platform for Indulatex’s procurement. Bringing under the same roof a comprehensive Supply Chain Management tools, invoicing and order generation automation and thorough supplier assessment, BLK allows for full transparency on all of the chemical commodities prices to be sourced by Indulatex. This is delivered via a marketplace where highly vetted suppliers from the EU, Asia, USA, Africa, UAE and Australia sell chemicals and other commodities with a full price transparency, giving manufacturers in Europe and the UK, for the first time, the possibility to buy spot on the market rather than relying on long-term supply agreements.

Additionally, BLK provides a clear snapshot of a company’s actual operating profile, strengths and weaknesses under the Quality, Cost and Service Delivery verticals. As part of BLK’s commitment towards the environment and decarbonisation, BLK suppliers’ proprietary vetting procedure makes use of Extended Exergy Analysis, a method that allows BLK to evaluate all the intakes and outlets of a company (in terms of capital, human resources, energy, goods, etc) and calculate the business’ overall environmental impact.

To date, 100+ businesses buy and sell on BLK’s Marketplace, with larger corporate clients opting for BLK Supply Chain, the more bespoke solution whereby BLK vets specific suppliers and negotiates on customers’ behalf, leveraging the purchasing volume of multiple buyers to get best prices and reduce the overall shipping carbon footprint.

What does it mean for the market?

Efficiency and flexibility in supply chains, lower procurement costs and full price transparency with the quality assurance of BLK’s proprietary vetting system. This allows companies to scale much more quickly, whilst remaining lean and increasing their bottom line.

Moreover, with the reduction of emissions through BLK’s supply chain service, companies can earn from the reduction by trading their carbon allowances on the European Carbon Exchange through BLK. With BLK, becoming green means opening a whole new revenue stream.

For small businesses in particular, this means leveraging their lower fixed costs to take on multinationals and compete on a level playing-field, having reduced their procurement costs thanks to the transparency provided by BLK’s Marketplace.

“We are delighted to share the same ideals and long-term vision with Indulatex and even more excited to see this translating into a winning business partnership” says Gabriele Dadò, BLK’s founder & CEO.

“We’re committed to bringing transparency, efficiency and structure to supply chains. We’re committed to connecting businesses worldwide, allowing people to buy from people. We’re committed to enable anyone to be seen, connect and compete. The partnership with Indulatex allows us to do just that, and we are happy to welcome Joel and his team in the BLK family!”

For more information about BLK and how we can support your business reduce its procurement costs, visit us at BLK Supply Chain, BLK Rating, or

Contact: Gabriele Dadò gabriele.dado@blk-global.com, www.blkcommodities.com

BLK Shipping Weekly – Shipping Market Rates Updates

Welcome to BLK Shipping Weekly, our Friday’s update from the shipping market. In this issue, we’ll be covering:

Wet Cargo
Dry Cargo
Containers
Gas

Subscribe to our newsletter to stay up-to-date with our Shipping Weekly and follow us on Facebook and LinkedIn to never miss an update.

Wet Cargo

Charter rates stabilising, on all trades in view of the demand uplift in June, driven by easing of lockdowns in UK and Europe and roll-out of vaccination programmes in the western countries. These factors are expected to drive energy demand up and cargo with it, increasing the overall demand for tonnage and hold space. With the winter months ahead of us, rates can be expected to start picking up for the rest of the year.

VLCC – the beginning of June is looking still quiet, with some softening of rates across the Atlantic, counterbalanced stronger performance in the Pacific. Outlook: Stable

Suezmax – rates still suffering from the oversupply of tonnage in the market. Relatively stable trend on all routes, with supply and demand nearly balanced. Outlook: Stable

Aframax – relatively stable rates, with demand for hold space still counterbalanced by relatively large supply of tonnage. Most cargoes are fixed far in advance and therefore no significant movements are expected. Outlook: Stable

Dirty Products – rates continue picking up, primarily driven by the low availability of tonnage in the Mediterranean and Baltic. Outlook: Positive

Clean Products – weaker rates compared to may, owing to the fact that most world refineries are still operating under capacity due to the low demand for refined fuels. With airlines still down and road traffic at a fraction of the pre-pandemic levels the market remains weak. Outlook: Negative

MR – overall performance weakened, with charterers going for long range tankers for the same routes as a reasonable alternative to MR.. Outlook: Negative

LR1 – demand for log-range tankers picking up, as their rates closed in with those of the MRs and are now being seen as a suitable alternative Outlook: Stable

LR2 – Tonnage availability came back into the market, weakening the rates. Outlook: Negative

Handy – Slow pick-up is possible depending on the easing of lockdowns and demand for refined products on each side of the Atlantic. Outlook: Stable

Dirty Panamax – Rates on the rise, looking positive to the summer, when investors anticipate a further increase of energy requirements from western nations. Further rise driven by reduction in tonnage offering especially in the Mediterranean. Outlook: Positive

Dry Cargo

Capesize – Relatively slow declining trend, with spot demand weakened slightly in western regions due to summer holidays approaching. Outlook: Negative

Panamax – stable demand does not lead to expected growth in rates going forward. Tendency to slightly weaken counterbalanced by the hold availability shortage. Outlook: Stable

Supramax – rates climbing steadily over the course of 2021 and stabilised in may with no real surge expected. Outlook: Stable

Handysize – rates rising WoW, primarily driven by grain, coal and cement trade in the APAC region. Port congestions in Indonesia strengthened the growth, which looks positive overall for owners. Outlook: Positive

Container

Container rates continue with their strong rally on all fronts, although the curve seems to be flattening a little bit. Demand looks strong and will continue to be as western economies get out of lockdowns and people shop around for finished goods, using up the savings gathered during the pandemic. At the same time, a large share of ships is out of service for dry dockings and BWTSs installations for the compliance with the Ballast Water Management Convention. It seems that the IMO’s exercise of forcing the BMW Convention on to owners to reduce the overall supply of carrying capacity and support rates shooting up has worked its charm, with many vessels being scrapped simply because the cost of the system installation was uneconomical.

We’re expecting to see a stabilisation to this trend as more vessels come out od dry docks and resume normal operations, coupled with the effect of inflation – which is going to off-set the buying craze and put a lid on overall demand.

Outlook: Positive

Gas

Rates for Large Gas Carriers continued to decline between 4% to 6%, with cargo cancellations being the primary causes, resulting in oversupply of carrying capacity in all main routes. Pressurized and semi-pressurized vessel rates remained unchanged.

As plenty of tonnage is currently tied-up in dock for ballast water treatment systems installation, we are to expect a further softening of the rates next month, as the ships come back into the market.
Outlook: Negative

To learn more about how we can support your business shipping as cheaply and environmentally-friendly as possible, visit us at BLK.

Subscribe to our newsletter to stay up-to-date with our weekly shipping updates.

BLK Shipping Weekly – Shipping Market Rates Updates

Welcome to BLK Shipping Weekly, our Friday’s update from the shipping market. In this issue, we’ll be covering:

Wet Cargo
Dry Cargo
Containers
Gas

Subscribe to our newsletter to stay up-to-date with our Shipping Weekly and follow us on Facebook and LinkedIn to never miss an update.

Wet Cargo

Charter rates stabilising, pretty much on all trades in view of the demand uplift in June, driven by easing of lockdowns in UK and Europe and roll-out of vaccination programmes in the western countries. These factors are expected to drive energy demand up and cargo with it, increasing the overall demand for tonnage and hold space. With the winter months ahead of us, rates can be expected to start picking up for the rest of the year.

VLCC – rates grew fdue to the positive sentiment given by the possibility of US lifting sanctions on Iran. Outlook: Positive

Suezmax – rates still suffering from the oversupply of tonnage in the market. Relatively stable trend on all routes, with supply and demand nearly balanced. Outlook: Stable

Aframax – relatively stable rates, with demand for hold space still counterbalanced by relatively large supply of tonnage. Outlook: Stable

Dirty Products – stronger rates, primarily driven by the low availability of tonnage ub the Mediterraneand and Baltic. Outlook: Positive

Clean Products – weak to stable rates, owing to the fact that most world refineries are still operating under capacity due to the low demand for refined fuels. With airlines still down and road traffic at a fraction of the pre-pandemic levels the market remains weak. Outlook: Stable

MR – uptake in demand drove rates up, with a positive outlook for the weeks ahead. Outlook: Positive

LR1 – demand for log-range tankers remains low. Slow pick-up is possible depending on the easing of lockdowns and demand for refined products on each side of the Atlantic. Outlook: Stable

LR2 – Tonnage availability declined with a subsequent strengthening of the rates. Outlook: Positive

Handy – Slow pick-up is possible depending on the easing of lockdowns and demand for refined products on each side of the Atlantic. Gloomier in SEA. Outlook: Stable

Dirty Panamax – Rates on the rise, looking positive to the summer, when investors anticipate a further increase of energy requirements from western nations. Further raise driven by reduction in tonnage offering especially in the Mediterranean. Outlook: Positive

Dry Cargo

Capesize – Relatively slow uptake in rate growth, with spot demand weakened slightly in western regions due to summer holidays approaching. Outlook: Stable

Panamax – stable demand does not lead to expect a growth in rates going forward. Tendency to slightly weaken counterbalanced by the hold availability shortage. Outlook: Stable

Supramax – rates climbing steadily over the course of 2021 and stabilised in may with no real surge expected. Outlook: Stable

Handysize – rates climbing steadily WoW, primarily driven by grain, coal and cement trade in the APAC region. Outlook: Positive

Container

We’re expecting to see a brake to this trend, however, with the effect of inflation – which is going to off-set the buying craze and put a lid on overall demand.

Apart fo the sharper Feeder 1700 TEU growth of 4% WoW, all other rates seem to be slowing down their rate of growth and we are hopeful we will see the trend reversing before the end of the year.

Outlook: Positive

Gas

Rates for Large Gas Carriers slumped 14% and 21% for 145k and 160k m3 LNGs respectively. Cargo cancellations were the primary causes, resulting in oversupply of carrying capacity in all main routes. Pressurized and semi-pressurized vessel rates remained unchanged.

To learn more about how we can support your business shipping as cheaply and environmentally-friendly as possible, visit us at BLK.

Subscribe to our newsletter to stay up-to-date with our weekly shipping updates.

BLK Shipping Weekly – Shipping Market Rates Updates

Welcome to BLK Shipping Weekly, our Friday’s update from the shipping market. In this issue, we’ll be covering:

Wet Cargo
Dry Cargo
Containers
Gas

Subscribe to our newsletter to stay up-to-date with our Shipping Weekly and follow us on Facebook and LinkedIn to never miss an update.

Wet Cargo

Charter rates appear to be stabilising, especially in view of the demand uplift in June, driven by easing of lockdowns in UK and Europe and roll-out of vaccination programmes in the western countries. These factors are expected to drive energy demand up and cargo with it, increasing the overall demand for tonnage and hold space.

With the winter months ahead of us, rates can be expected to start picking up for the rest of the year.

VLCC – rates fell from the all-time high in April 2020 and continued sliding. Outlook: Stable

Suezmax – rates still suffering from the oversupply of tonnage in the market. Downward trend on all routes, meaning good news for shippers. Outlook: Negative

Aframax – relatively stable rates, with demand for hold space still counterbalanced by relatively large supply of tonnage. Outlook: Stable

Dirty Products – stronger rates, primarily driven by a mini-surge in demand for MR tanker tonnage, especially on atlantic routes.

Clean Products – weak rates, owing to the fact that most world refineries are still operating under capacity due to the low demand for refined fuels. With airlines still down and road traffic at a fraction of the pre-pandemic levels, the market remains weak.

MR – uptake in demand drove rates up, with a positive outlook for the weeks ahead. Outlook: Positive

LR1 – demand for log-range tankers remains low. Slow pick-up is possible depending on the easing of lockdowns and demand for refined products on each side of the Atlantic. Outlook: Stable

LR2 – demand for log-range tankers remains low. Slow pick-up is possible depending on the easing of lockdowns and demand for refined products on each side of the Atlantic. Outlook: Negative

Handy – Slow pick-up is possible depending on the easing of lockdowns and demand for refined products on each side of the Atlantic. Gloomier in SEA. Outlook: Stable

Dirty Panamax – Rates on the rise, looking positive to the summer, when investors anticipate a further increase of energy requirements from western nations. Outlook: Positive

Dry Cargo

Capesize – rates climbing steadily over the course of 2021, although the spot demand weakened in western regions due to summer holidays approaching. Outlook: Stable

Panamax – stable demand does not lead to expect a growth in rates going forward. Outlook: Stable

Supramax – rates climbing steadily over the course of 2021, although the spot demand weakened in western regions due to summer holidays approaching. Outlook: Stable

Handysize – rates climbing steadily WoW, primarily driven by demand for raw materials in China. Outlook: Positive

Container

Container rates surge continues unhindered on all fronts, with rates up from 100% to 163% compared to pre-pandemic levels. Demand looks strong and will continue to be as western economies get out of lockdowns and people shop around for finished goods, using up the savings gathered during the pandemic.

We’re expecting to see a brake to this trend, however, with the effect of inflation, which is going to off-set the buying craze and put a lid on overall demand.

Inflation in the UK has doubled MoM, hitting 1.5% in April, and it will continue rising. Same goes for the US, where prices surged 4.2%, up from 2.6% in March and the EU, with inflation currently at 1.6%. As some central banks work to put a brake on inflation by upping base rates, increase in consumer prices may hamper demand after the summer.

We are therefore likely to see a stabilisation or decline of container rates as we progress into Q3 2021.

Outlook: Positive

Gas

Rates for Large Gas Carriers picked up globally, supported primarily by the low availability for suitable tonnage in the Asia-Pacific regions.

As plenty of tonnage is currently tied-up in dock for ballast water treatment systems installation, we are to expect a general softening of the rates next month, as the ships come back into the market.

Outlook: Stable

To learn more about how we can support your business shipping as cheaply and environmentally-friendly as possible, visit us at BLK.

Subscribe to our newsletter to stay up-to-date with our Shipping Weekly and follow us on Facebook and LinkedIn to never miss an update.

UK Emission Trading Scheme Launches in Bid to Achieve Net-Zero.

Carbon trading opens up in the UK with the launch of the ETS (Emissions Trading Scheme), which went live yesterday.

What’s the ETS?

The UK ETS is the equivalent of the European Climate Exchange, serving as a substitute to the European exchange post-Brexit.

How does ETS work?

Emissions trading schemes work on the ‘cap and trade’ principle, where a cap is set on the total amount of certain greenhouse gases that can be emitted by sectors covered by the scheme. This limits the total amount of carbon that can be emitted and, as it decreases over time, will make a significant contribution to how the UK will meet its Net Zero 2050.

Each year, businesses and aircraft operators have to report their overall emissions. Each businesses will be able to work within its allowable cap. If a company does not manage to remain within the allocated allowance, they can buy emission allowances on the secondary market.

Earning from emission reduction

Allowances can be traded with other market participants as needed, so that businesses which managed to reduce their emissions beyond their allowance can sell their own credits and monetise on their reduced footprint.

BLK can support your business reducing its overall carbon footprint.

Through our Supply Chain service and Carbon Trading capability we:

Help you reduce your overall emissions by sourcing from local suppliers and/or organising bulk deliveries for multiple companies, thus reducing shipping footprint;

Trade your carbon allowances earned in this way on the UK ETS, so that you earn thanks to the emissions you off-set;

Aggregate your purchasing volume with that of other companies, negotiating best prices with suppliers and delivering savings to your bottom line.

Not only you can save by outsourcing your supply chain to us, but you would open a completely new revenue stream going straight into EBITDA.

Carbon trading is going to be the next “big thing” and presents a clear opportunity for forward-thinking companies which are serious in reducing their footprint.

Market Size

The global Carbon Market is currently worth $240B.

The demand for voluntary carbon credits is set to increase x15 by 2030 – according to McKinsey’s research, and its size will be 100 times today’s value by 2050.

carbon market set to grow 100 times by 2050 — Source: McKinsey & Co.

Carbon Credits are valued OTC at $30.05, with a growth of 56.25% YoY on the European Carbon Exchange alone, where prices soared from €9/MT to over €25/MT between 2018 and 2019.

Impact on UK & Scotland

If just 1% of Scottish businesses were to source raw materials locally, this would contribute to a reduction of 500,000 t of CO2 from the atmosphere, whilst creating 3,700 Scottish Jobs and adding £700M to the Scottish economy.

On a UK level, the reduction of CO2 linked to the increase by 1% of local sourcing (as opposed to importing) would near 2 million tons, with £2.6B added to the UK economy and create 14,000 new jobs.

To keep up-to-date with the UK ETS roll-out, learn how to reduce your overall carbon footprint and monetise on your carbon allowances, visit us here and get in touch.

ULSD: Growing Demand Drives Rates up 70% in 6 Months

Market Outlook

Global oil demand is set to recover as vaccination programmes continue progressing, especially in developed economies. Overall demand is expected to reach 103.2 million barrels per day by 2025, up from 91 million barrels per day in 2020.

Travel corridors and western economies coming out of lockdowns are the main drivers and are pushing the price for distillates higher and higher.

Problem

In the last two weeks alone, the price for EU road diesel went up over 11% in CIF terms.

Price for ULSD rose 70% since October 2020, with ULSD 10ppm Cargoes CIF MED Futures breaking through the $560/MT threshold in August 2021.

Steep growth of fuel rates - up 70% since October 21

Before this trend reverses we have to wait until Q1 22, with futures price starting to come back down and attesting above the $555/MT mark for the first half of next year.

Solution

A solution to off-set the impact of rising fuel prices on companies’ balance sheets is to shift over to spot transactions. Doing so as part of a purchasing pool helps companies’ negotiating position and drives down the fuel rates accordingly.

Opportunity

BLK pools the purchasing volume of multiple businesses across the UK and Italy. It recently negotiated a discount of – $15/MT on the Platts rates for ULSD with an Asian supplier. This was possible due to our volume and the supplier’s production costs lower than US/European competitors.

Join BLK to unlock our leading market rates and discover opportunities to create new revenue streams for your business. BLK supports your emission reduction and trades carbon credits on your behalf.

Save $15/MT on ULSD starting today with BLK Supply Chain. It is 100% free – we earn on the back of what were help you save.

Get – $15/MT discount over the current market price for ULSD
Get cash back on every order
Open a new revenue stream through carbon trading

Discover more

Tender for the procurement of various distillate fuels on behalf of BLK partners

This week BLK is launching a tender for the procurement of various fuels on behalf of its partners. BLK Trading is a division of BLK Global Ltd. specialising in providing supply chain solutions to customers across multiple industries.

BLK aggregates the purchasing volume of multiple buyers across various industries, conducts supplier vetting, assessment and negotiations on behalf of our partners and arrange spot and/or long-term supply deals on the basis of its proprietary evaluation criterion based on Quality – Cost – Service Delivery.

BLK aims to deliver best-in-class services to key industry players at market-leading rates. With these premises, BLK wishes to tender for the supply of 500,000 MT of various fuels, including but not limited to Diesel EN590, Petrol/Gasoline EN228, Jet A-1 DS 91-091, Aviation Biofuel, Biodiesel EN14214, LPG EN589 and others, which are to be purchased by the BLK’s buyer pool through BLK’s proprietary platform blkcommodities.com.

Bids must be delivered electronically on or before the 31st of May 2021 at 12:00 UTC, at which time the submissions will be opened in the presence of those tenderers’ representatives who may wish to attend.

If you wish to take part to this tender, please reply with your expression of interest to this email by Wednesday 13th May 2021 at 16:00 UTC. Upon reception of the expression of interest, tenderers will receive a confidential tender pack electronically.

This is a great opportunity for traders, majors and producers wishing to expand their reach and customer portfolio within the Med area and the UK.

We look forward to receiving your bid and working together as strategic partners going forward.

Contact: info@blk-global.com

Register to get started now.

4 Things To Remember When Looking for a Steel Supplier – What to Know

Looking for a supplier of steel for your business is more complicated than simply choosing the one with the lowest rates. For businesses in the construction or machine manufacturing industries, steel is one of the most important building blocks of the business. Searching for a isn’t merely finding vendor, it’s a commitment to partnership.

When looking for a steel supplier to partner with, price, although definitely important, should not be the determining factor. Looking a bit into their business ethic and resulting work output should be a major part of the process—as you will be working with them for quite some time.

To help you pick out the best suppliers, here are four major things to remember when picking out a steel supplier for your business.

A reasonable amount of experience

Just like when you’re looking for a good employee, having some background on the job is a definite must for highly essential roles—and a steel supplier is definitely essential. One of the most basic things to look out for is how long they’ve been in the business, as a business that has been in the market for quite a while should have enough experience to keep themselves afloat.

Aside from this, a look into their previous and current customers would prove to be highly informative. If they have long-standing clients, then it would usually point to good-quality output from their end. Steel suppliers that come highly recommended and come with good reviews are good choices for a partner.

A commitment to their service and expertise

To reiterate, your steel supplier will be as close to a partner as a supplier gets—without their materials, your business will find itself in a tough spot. As such, ensuring they have the commitment to delivering results on-time and with full accountability is mandatory.

A partnership banks on trust and reliability, so if they give you a timetable, then they should follow-through. If they can’t deliver on-time or deliver poor quality results, then they aren’t worth your time and money.

An open mind and the flexibility to keep up with it

Handling repeat orders of basic materials is a basic requirement, but they should also be capable of catering to the more highly specific needs of your business. Steel suppliers don’t just chuck raw materials your way, they perform a lot of prepping to give you the needed output.

As such, a service that can handle changes to your order is a big bonus for your business. A steel supplier that can provide a multitude of options and additional services is a gem to keep around.

An accomodating customer service support

No matter how good they are at their job or how long you’ve partnered with them, they should still be able to provide good customer service support for you. Beyond mere reliability in delivery times and product output, they should be able to communicate with you properly.

A steel supplier that has dedicated account managers to cater to your questions and needs will go a long way in cementing your partnership. Reliable suppliers should be able to at least be ready to take in your complaints, should there be any, and resolve any issues without it affecting your business.

Conclusion

Finding a steel supplier for your job is a task that you should give more thought to, as their output is a large determinant in your success. By keeping in mind these simple tips, your supplier-finding shouldn’t be too difficult, allowing you to get the one best fit for your business.

Looking for a commodity marketplace that has a number of steel suppliers for your perusal? Connect with us today, we have a number of building material suppliers and other raw materials all available for contact.

4 Practical Tips in Selecting a Reputable Timber Supplier – Our Guide

Today’s market has seen the growth of many new ranges of wood types. Whether it’s for a home renovation or woodworking project, you have to ensure that you get quality raw materials so that you can produce the best possible products. If you need to get the best wood for your next project, then you should be dealing with a timber supplier. As there are a handful of timber suppliers probably in your area, you must be wary of choosing the right one for your wood-related project.

In this article, we will give you a quick rundown of four practical factors to consider when looking for a timber supplier:

1. Growing Location

The location plays a crucial role in the growth of trees for timber production. Know that timber suppliers typically have different areas to mass-produce their woods, and each site has various ways of growing trees and proliferating woods. The growing location then determines the type of wood your supplier will deliver to you. For this reason, you have to ask where the supplier sources out the wood and check to see the conditions of the growing location.

2. Types of Timber

Although there are a variety of woods produced by timber suppliers, there are only two main types of timber — hardwood, and softwood. Generally, hardwood comes from a deciduous tree, while softwood comes from a conifer. Furthermore, hardwood is regarded as a quality timber when compared to softwood. If you use hardwood for furniture, it will not only be more durable, but it will also look classy and expensive. For this reason, know the type of wood a supplier is providing before taking the plunge.

3. Timber Characteristics

Aside from the main types of wood, you need to get into the specific characteristics of timbers. Consider the typical wood attributes, such as hardness, strength, toughness, and stiffness, among others. Factor in as well the size, weight, and thickness of the wood. So, when you’re buying, it’s important to carry some tools with you and measure the woods you plan to purchase and see whether or not a particular wood is suitable for the wood project you hope to pursue.

4. Supplier Reputation

There are probably a handful of suppliers in your locality. When looking for one, it’s important to check the reputation of the supplier before working with them. If you get some recommendations from friends or colleagues, you can also ask about the quality of products that the supplier provides. If you’re checking online for prospects, make sure to see online reviews or feedback about the timber supplier from former clients. Furthermore, ask some references from your potential suppliers to check their reputation so that you’ll be able to decide on the best fit for your timber needs.

Conclusion

Your chosen timber supplier can make a difference in your wood project. That is why, when looking for one, consider the supplier’s location, types of wood being supplied, the characteristics of the wood types, and the supplier’s overall reputation. Ultimately, the right timber supplier will provide you with the best wood materials that can bring out the best in your woodworking project.

We specialise in online commodities, raw materials, and industrial supplies. If you’re looking for a timber supplier in the UK, get in touch with us today to see how we can help!

A Simple Guide to Choosing the Best Industrial Partner – What to Know

In the industry of manufacturing, the process of sourcing pertains to the search of a supplier that will aid you in meeting your firm’s goals and objectives. These are often measured in terms of quality, costs, and deadlines, regardless of nature – be it a building materials supplier or even a tea and coffee supplier. Unfortunately, given the rapid landscape of production needs and their evolutions, finding the right industrial partner at the right time can be an issue.

The process is easier said than done; after all, how do you find the best suppliers? This simple guide will address that question with a simple lesson on the sourcing processes. Let’s begin!

The sourcing in four steps

In the industrial production field, sourcing pertains to finding suppliers who meet the challenges of costs, quality, and deadlines encountered by most firms. To successfully execute sourcing, strategies must be put into place. Here are some of the realities and steps it encompasses:

Step 1: The establishment of its panel – This pertains to the identification and qualification of suppliers who are best suited for the requirements.
Step 2: RFQ (Request For Quotation) consultation – This is where a request is relayed, and the analysis of responses ensues.
Step 3: The appointment of the supplier – This is where the choice for the best suitable supplier is finalised.
Step 4: Relationship with the supplier – This encompasses information sharing and circulation, along with QCD and production management, among others.

How to successfully identify the best industrial partners

As mentioned, your strategy is the cornerstone of every aspect of your sourcing process. Even with the four-step process at hand, choosing the best industrial supplier calls for well-informed decisions. Here are some steps to know your business contact even better:

1. Identify your goals

Based on the state of your industry, does your organisation need to adapt to standards? Is there a need for the implementation of new production methods in terms of sustainability and other strategies? These are challenges your firm may be facing, and identifying your goals that surround those issues is necessary. Should you wish to find the right industrial partner, identifying what you need is imperative.

2. Match the supply and demand and examine their businesses expertise

As you ponder on potential candidates, carefully consider the details of the products they wish to offer. From there, examine whether or not they match your internal needs. Moreover, understand that there is a risk involving supplier searches. For one, their credibility and business expertise remain unknown. Nevertheless, there is a way to reassure your needs and lower the risk: obtain certifications (ISO certifications). This creates a foundation for trust, which can be further built through word of mouth affirmations and reviews.

3. How well do they communicate with you?

As the need for suppliers grows ever more demanding, clients continue to look for new ways to communicate with providers. That said, technical support and customer service should be crucial to your decision-making process. Liaising and closing deals is one matter, but their approachability and accessibility say quite another, more so than any costs.

Conclusion

While a simple guide, the rational elements that will help you make well-informed decisions are present. As you course through your list of potential suppliers, remember that there are more than costs at play – your goals, for instance, play a critical role in finding the most suitable partner. What they offer and how they manage their communication also matter, as these assure you of their credibility and security. Although it entails much work, finding the right supplier will surely send your business operations growing into new heights.

Are you looking to deal with an online spot marketplace in the UK? Get in touch with us today to see how we can help!