Global Sources: Smart source during this component shortage cycle

Date: 01/07/2022
Asia is great source of electronic components for budget concious buyer. But the problem is buying from an unverified manufacturer causing big damage to your brand and product. For that reason many buyer does not venture to source components from unknown Asian and Chinese Sources.

There is a well-known leading intermediary company called Global Sources which is connecting buyers and sellers of electronic components since 1970s. It started with printed magazines listing various electronic components from around the world mainly Asia. The print magazine was named as "Electronic Components", kind of a every month Bible for buying latest electronic components from Asia. As soon as online became popular, Global Sources successfully transited into B2B platform with many industry's first online features in quickly selecting the right electronic component based on specifications and other buyer requirements.

During this artificial intelligence driven computing age, Global Sources is again transforming into advanced B2B platform by integrating features such as big data analytics, online tutorials, and many such very helpful features for selecting component from a reliable source.
Global Sources says it is the only international B2B souring marketplace reaching over 10 million O2O buyers and suppliers including 97 of the world's top 100 retailers, enables swifter responses to the evolving trading environment and seize the emerging opportunities.

Global Sources intend to connect authentic buyers and verified suppliers globally. Terrible pandemic has further induced the growth of online business. Quoting Market researcher Gartner's prediction that by 2025, 80% of B2B sales interactions will occur digitally, Global Sources says it will further support the sourcing community by leveraging its expertise and latest technology. Global sources to help buyers in identifying trustworthy partners, auditing factories when trade barriers are in place, and sustaining business development, by designing powerful features with user-friendly interfaces, including:

Smart use of Big Data Algorithm to generate more precise and customized recommendations for buyers based on preferences and attributes, plus high-demand product ranking for smarter decision-making.

"Tailored Product Recommendations" powered by big data analytics enhance user experience and enable swifter responses with reduced risk.
Developed with an exclusive AI-powered engine, "MATCH" helps buyers profile themselves, customize sourcing criteria, and match verified suppliers swiftly without geographical and language barriers.
The new "Sourcing Knowledge Center" offers the latest export information and sourcing intelligence, creating additional opportunities and convenience for all users to confidently meet the evolving demands. Comprehensive online resources like tutorials, on-demand webinars and advisory services are included.
"Global Sources Buyer APP" helps users discover and source millions of innovative products from certified suppliers fulfilling the on-the-go sourcing needs faster and easier like never before.
Technology-enabled features, like "Ready to Order," "Instant Chat with Translation" and "Video Meeting" services, enable buyers to access the unique suppliers endorsed by its supplier verification system since GSOL was launched in 1995, and secure real-time tracking more timely and effectively.
Powered by 3D panorama and VR technologies, the "360 Virtual Reality Showroom" creates immersive virtual factory tours, enabling buyers to enjoy a 360 view of the plant and closer looks of the products.

"It is encouraging to see how resilient global buyers have remained, though the COVID-19 pandemic has battered the international economy. Global Sources is leveraging our professional knowledge and expertise and broadening our products and services to help buyers and suppliers worldwide to achieve more. The rebuilt GSOL platform, powered by the latest technologies, is a testament to our commitment to helping the world prepare for the Future of Sourcing." said Hu Wei, Chief Executive Officer of Global Sources.

Author: Srinivasa Reddy N
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