Cutting expenses can sometimes be the only name of the game in business. When importing commodities from overseas, there are a lot of extra costs to consider in addition to procuring the product itself. Some are within your control, some are not. This blog post will cover a few of these operating expenses and how you can effectively cut down on these costs.
Operating Expenses of Importing
- Staff. There are many challenges in global sourcing. Because of that, large companies often hire staff devoted to overseeing the processes associated, including managing relationships with suppliers, handling legal and tax requirements and resolving administrative issues.
- Outsourcing. There are times a company will decide they don’t have the wherewithal to manage their own inventory, so they’ll hire an outside vendor to do it. While vendor-managed inventory (or VMI) can streamline processes, it comes at a high-ticket price.
- Duties and taxes. Customs duty is a tax on goods when transported across international borders. The rates are determined by a number of factors including type and country you are importing from.
- Fees. It is sometimes necessary for imported goods to be subjected to customs warehousing, where fees can apply. Other fees can include inspection charges, agent fees, and freight charges.
- Insurance. This could be lumped into the “fees” above, but it is often overlooked as a major expense. Having insurance for your goods while in transit greatly lowers your risk of not seeing a return on your investment.
Gutting Operational Expenses of Importing with Zirks
With Zirks, the above expenses are practically eliminated. We manage the entire importing process from start to finish. We:
- Source the commodities through long-standing relationships with factories we know and trust.
- Continue to foster these relationships year after year to ensure quality goods and streamlined processes.
- Handle the paperwork: legal, tax and administrative.
- Manage all fees, from customs to freight and everything in between.
- Ship your product wherever you want it to go.
So, get the commodities you need and forget all the hassle that comes with getting it. With Zirks, we’ve got you covered.
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