How to Protect Your New Manufacturing Venture from Counterfeiting and Fraud
Joey Llanes
Consultant to Hospitality Industry | Judge Culinary Arts and Restaurant Service Competition | Helping businesses to make sense out of Digital Marketing
Are you stressed over component sourcing for your equipment start-up? In this article I am going to share a couple of ideas for hardware start-ups when it comes to buying components.
There are many entrepreneurs that have entered into equipment electronic manufacturing sector in the past couple of years. There are so many innovations being made every day which makes it very hard for one to keep up with everything necessary to stay updated on all requirements and components available that are a better fit for your design.
Some start-ups get so behind on the important task making sure their company is running smoothly whether it be getting certain equipment components or having someone else manufacture them, that they risk the whole operation to fail.
For those who don't know, Triode offers advice and practical assistance to ensure that at critical moments when one's company has the potential to grow very quickly there is the right help and expertise available. Otherwise, your innovation and the company could crumble.
While there is a variety of challenges when it comes to securing the right componentry, a very frustrating yet real challenge is the risk of counterfeiting as well as fraudulent activity.
In today’s world we are still learning how to develop the right number of checks and balances when it comes to establishing a new business relationship on the other side of the world with people speaking a different language. International trade is centuries old, but today we live in the world where rules of engagement are changing. This is a direct result of less trade shows as well as restrictive travel.
A startup should always be on guard from those who want to take advantage of them. Always check the credentials online for any supplier you wish to do business with and never give out personal information on a website that is not a well-reputed one. Just because a business seems professional and responsible doesn't mean they won't rip you off. It always pays to be alert just in case someone tries to fake their way into getting your hard-earned money! It's also important to make sure you do all the research necessary beforehand since they'll most likely find suppliers within their niche or industry.
Now comes the vital part of discovering good vendors. One should constantly attempt to avoid Traditional Brokers considering that it comes to be extremely pricey and also start-ups cannot afford them. There are lots of risk aspects while getting elements from conventional brokers, etc. Brokers are the intermediates who buy the parts from open element market and also element maker, distributor, vendor, etc.
If an equipment company wants to save time and energy in the long run, its owners should really keep in mind that it's always better to invest in products which are both branded and well known. The advantages of it are high quality parts coming from suppliers who are kept accountable for all their products - this way you can be sure no one is getting counterfeit materials. A major inconvenience with these mega companies is that they may have tons of orders to fulfill by short deadlines since there are so many customers.
Perfect middle ground is to engage an established assembly manufacturer like Triode, who has established long term agreements with reputable manufacturers of both international brands and others. Triode has a dedicated supply-chain manager who keeps in touch with suppliers and ensures quality control and consistency of delivery, so that your company can focus on innovation, new design and research.
Besides, Triode is ISO 9001:2015 certified as well.
Traceability is really important to trace where the goods you've purchased come from and how the production of those goods takes place. Traceability is about getting as much information as possible about those goods, starting right from the source; this comes in very handy if you happen to be manufacturing those exact same components on your own. A start-up as well as every established company would benefit greatly by having traceability function or alternative while working with outside vendors that way it's easier both for the company and its partners (the vendors) to keep track of all parts.
While dispersing BOM (Bill of Material) to various part producers or distributors, we must constantly comply with the manufacturer's Guidelines. Don't be afraid that you will never understand these guidelines. If you do not then do research online and talk to experts in your market but don't let it affect your BOM production time as much as possible! It is equally important that they comply with your guidelines. You'll find that having a regular procedure in place can save you a lot of time and money and help to prevent mistakes.
Quotations will vary depending on the different qualities of the primary boards, for example, surface area, shade or product. One needs to bear in mind that when an organisation isn't in need of cash at the moment, boards that need a cash down payment or possess a higher rate of interest might get neglected upon. If it's something that one needs to get done right away, then waiting on a bit of time could be just what is required to ensure that one can avoid being persuaded into purchasing something without having the ability to think about every one of their choices. Again though a business might suffer a small price cut by using contract providers it's an approach best taken only after careful thought and consideration.
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You want to find the best part manufacturer or broker that you can for your operation. To do this, you need to be able to understand their vision and truly connect with them on an emotional level. The more respect you give them (and all of your partners) the more likely it is that they will be willing to work with you. One of the most important things about partnering with someone, is communication of expectations and ideas of what you want out of the partnership itself. Before any contracts are signed, make sure there is clear communication between both parties (that includes working through any legal expectations) - make sure people are on the same page before coming up with a contract/agreement that everyone has agreed upon!
Securing a supply channel requires a great deal of negotiation, which might be challenging when you have to do it remotely instead of face to face. You have to prepare yourself to a bit of a bargaining (commonly required in some cultures), while staying professional and respectful.
Of course, when you turn to a company like Triode, we have already done all negotiations required years ago and are in a position to take this task away from you so that you can focus on what you truly enjoy.
Then comes the day when you are finally prepared to ship. Alongside serious approach to selecting an Authorized vendor, Accredited supplier, Traceability, you have to consider purchasing from sources that can provide prepared to ship stock. When you are just starting a business and wish to expand fast, you cannot afford waiting a long time for lengthy preparations!
Making sure you have everything you need to launch your new product on time and as expected is a challenge worth taking seriously. If you're looking for some extra help right from the start, consider partnering up with some of our high-quality suppliers who can provide what you need from a ready-to-ship standpoint. Whether you're a first-time entrepreneur or a seasoned business owner, we know that this stage may come with its fair share of obstacles to overcome - but our team is always more than happy to help out by going the extra mile!
When you have selected a supplier to work with it's important for them to come up with swift transportation which will mean they have to have overseas fulfilment facilities so that your shipments can be prepared and sent out as quickly as possible. You want a company that prides themselves on being able to ship rather than one that puts all of their focus into just offering a product.
And remember, very likely that here at Triode we already have many parts in stock. That means partnering with Triode can help you get off the ground sooner eliminating the waiting time for components to arrive. Eliminating or shortening this elapsed time might have massively positive effect on your business, because it will allow you to:
Start-ups ought to adhere to these few pointers as well as continue reviewing different blog sites and also short articles and implement what suggestions others have actually shared. You can always acquire Verified, Ready to Ship and also Traceable components with 100% guarantee of Traceability from ioT Parts. You can follow us on Facebook, Twitter and LinkedIn to get more such informative updates.
Many new products often face a lot of competition. The good news is that help is available. In order to excel as a start-up team, it's not just about having an innovative idea or presenting your best pitch in front of investors, but also finding a manufacturing partner, like Triode which can assist you in these five key areas:
In summary, the danger and the risk of counterfeiting or fraudulent activity is reasonably high when it comes to overseas purchases of componentry where payment often has to be made upfront for goods to be shipped. This is inevitable and real risk, which everyone has to understand and build systems to safeguard your growing business.
One of popular and easy solutions is to outsource manufacturing to a reputable company, which already has sources of componentry sorted. Someone like Triode. That was your solution is relatively straightforward.
Don’t take my word, reach out to learn more about Triode operation and our quality standards to make your own informed decision.