What is the importance of visiting foreign suppliers personally?

This is my general answer;

Visiting suppliers personally specially if it is for an offshore/ overseas project is not only to build rapport with the Suppliers and also to get the better understanding of the current standing of their business not only in financial also on the operational perspective, note that this also allow us to anticipate problems when dealing with them and possible  solution to avoid it, we get first-hand view on matters to be improved which is tailored with what we want and it also can give a certain assurance on retention of long term business relationship.

For further details;If you want to hear more please message me, I would love to share and hear others opinions and other information in the same profession.

You should have the same priorities in mind when selecting a foreign supplier. You need to get the right price and quality, while making sure the supplier can be relied upon to meet high standards consistently.

The reliability of your supplier is crucial. While a competitive price is also important, make sure that low prices don't come with unacceptable compromises on quality or on the level of service you'll receive.

The main stages in the supplier-selection process are:

• drawing up a shortlist
• comparing the short-listed suppliers on the basis of value for money, reliability and creditworthiness
• visiting the suppliers, if possible, to see their operations
• deciding which of the suppliers to work with

Value for money

Make sure that you're happy with the price and quality the supplier is offering. Get a written quotation.

Ask for a sample based on your specification to make sure the supplier is capable of producing what you need.

Reliability

It's important to research supplier reliability. If possible, visit the supplier. Look at their work and their production system.

Find out as much as you can about the supplier. Talk to:

• Any references the supplier can give you
• Importers with experience in the market
• Trade associations and other importers in your sector
• Member organisations for businesses trading with the market

You should also check the reliability of any sub-contractors your supplier may be outsourcing work to.

Creditworthiness

Financial checks of foreign suppliers can be difficult due to a lack of accessible financial information. See if your bank's international trade team can carry out a status query - a query into the company's financial standing on your behalf.

Be cautious - avoid advance payment or long-term contracts until you trust the supplier. See the page in this guide on methods of paying foreign suppliers.