New Online Sourcing Resource for Small Companies
Apparel and textile companies now have an online sourcing resource designed especially for small- to mid-size companies.
Fremont, Calif.–based All World Sourcing Inc., has launched a beta version of its site, www.allworldsourcing.com, which is aimed at small- and mid-size companies looking for factories. The new resource is currently serving the fashion industry as well as toys and electronics. It is currently in a beta, or testing, version so developers can optimize features and functions while working with users.
Most of the existing online sourcing resources cater to the larger companies and merely serve as a Yellow Pages, said AWS founder and president Tony O’Yang.
AWS is more like a matchmaking service that helps buyers find appropriate factories. O’Yang conceived the idea of the site while on a trip to Shenzhen, China.
“I met with some friends who owned a textile business,” he said. “While there, I met American buyers who were in due diligence with this company. They made the long trip over and hired translators. I just thought, ’There has to be a better way.’”
O’Yang launched the site three months ago with former Microsoft engineer David Ekins, who is chief technology officer.
The company quickly gathered about 10,000 contacts in its database. The service is free for buyers. Suppliers pay a 1 percent to 3 percent commission for each transaction.
The site is similar to mortgage sites such as LendingTree (www.lendingtree.com) that conduct reverse auctions to match buyers and suppliers. Buyers submit a request through the Web site and provide some basic information on their companies and needs. The database allows users to make requests based on product type, sourcing region and price. Appropriate suppliers are invited to bid once a request is made. The suppliers are screened through a variety of certifications, feedback ratings and other processes.
Within hours, buyers will begin to receive bid requests. They can use the site’s tools to research suppliers and then invite suppliers from around the world to bid on a buy request and finally place an order.
The system is secure and all suppliers’ profiles and community ratings are open to view.
Suppliers can join the site for free.
“Today, passive message board–like Web sites such as Alibaba.com require buyers to either wade through hundreds of ’sell offers’ or to post their ’buying lead’ and then pray that the right supplier finds and contacts them. This process is time-consuming and costly, as the buyer must perform background and quality checks on each supplier independently,” O’Yang said.
For more information, visit www.allworldsourcing.com or call (408) 506-7020.
