As we all know Import Export Business is a very lucrative business although it comes with fare share of difficulties so here we discuss problems that are faced by importers and exporters.
There are many harsh problems faced by importers that affect their overall business so here we list those problems with their solution for you.
The Reality of Import Export Business
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| Problems faced by Importers |
Before learning about the problems faced by the importers you must know a little bit about the import export business.
An import export business is a company that facilitates trade in goods and services between domestic and foreign companies. In other words, it is a company that buys goods from around the world and exports them to home purchases and it also happens to be.
So the main problems faced by importer in USA and Importer in India or correctly saying importers from all around the world are :
Supply Chain Management
Sourcing
Payment Instruments
Pricing
Quality control
Transport
Customs
Rules
Understanding the Problems faced by importers
Let us look in brief the problems faced by the importers :
1. Quality rejection and quality control problems faced by importers
Sometimes goods from the port are in good condition, but in the demolition port, usually due to faulty containers, shipped goods are damaged. (Bleeding, dust, rust, etc.)
This results in rejection that no one can be responsible for. It is therefore important that a container inspection is carried out before the goods are compressed and sealed.
2. Documents & Certificates problems faced by importers
Another major problem is understanding the requirements for documents in different countries. Some goods, if they require a certain type of certificates and documents for country A, may not be the same as country B.
This often creates confusion and poor paperwork that makes the shipment stuck in the destination port. As a producer of a single product when I am well versed in one country to do business, it becomes difficult for me to start working in a different country without delay and deal with documentation-related problems.
3. Asset management problem faced by importers
Needless to say, the most important part of logistics is being played by international trade, often this is a great pain when things don't go as planned.
These include, port loading delays, replacement delays, cancellation of entry vessels and many more such delays. This process across the system causes major problems for both senders and importers. The big problem is that such delays have never been passed on to the messenger without being consulted and often saved their delivery lines end up confirming the wrong dates.
Because of such lies in the data, the company cannot think of any other way of action. Many other issues related to asset management have already been listed above.
4. Pricing problems faced by importers
Pricing is the biggest factor that makes the most problems faced by importers very serious as the prices of goods and products tend to change very often sometimes on a daily basis which gets the importers in loss.
5. Payment Instruments problems faced by importers
Payment instruments is one of the main problems faced by importers as there are many who do not use online banking and some banks do not set trade with others that easily which makes the trade difficult.
6. Financing problems faced by importers
A lot of customers/importers luckily despite having some great and huge local sales are reluctant to go to a good honorable bank for financing. Instead, they slowly try to manipulate the seller into arranging some sort of healthy safe financing method for them. Happens a lot if you are dealing in a highly and in demand expensive commodity.
7. Transit Time problems faced by importers
This problems happens a lot if you prefer the use of cheaper freights over good branded shipping lines. There are many big and general issues of backlogs at trans-shipment ports that are mainly causing unnecessary delays, congestion at the main destination ports & thus the abnormal fees charged by all the black market agents at destination.
8. Natural Force Problems problems faced by importers
Natural disaster that are mainly preventing the supplier from shipping the big needed order or the buyer from releasing the very much needed goods. For e.g; recent earth quake in the city of Nepal.
So these are some of the main problems faced by importer that one should know about, we will write about the solution to these problems faced by the importers in other article to make it more clear.
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