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China, The Biggest Sourcing Hub in the World

Introduction to Sourcing

The businesses are crossing national borders and becoming the part of global markets. The business giants like Amazon and Walmart are famous to outsource their suppliers rather than producing each and every product by their own; while the young entrepreneurs and small businesses from USA, UK, and Asia are found to go for outsourcing due to multiple benefits they get by sourcing. The trend of sourcing is found inclined towards China because this is helping businesses to save money and get superb services.

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Importance of Factory Audit or Supplier Evaluation

What is Factory Audit

A factory audit is a detailed analysis of factory performance regarding its capabilities to fulfill needs of consumers by providing outstanding services and products, to keep their employees satisfied, to negotiate with vendors efficiently and to maintain its plants and machinery. Factory audit is done in order to find out any possible errors committed purposefully or by mistake in the above-mentioned company tasks. Via factory audit it is assured that all present errors (if any) are highlighted by the proficient auditor/audit team and company is asked to correct them, after correction of those errors, revised record sheets are again consulted by auditors and if they find it satisfactory then audit is winded up in the form of audit report.

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