B2B (Business-to-Business) pertains to the business transactions and cooperative processes among enterprises.
1. Demand Identification:
The initial step for a business is to determine its business requirements, such as raw material acquisition, service outsourcing, and technology partnerships. For instance, a clothing manufacturing firm needs to purchase a significant amount of fabric for production.
2. Supplier Search and Evaluation
Potential suppliers are discovered through diverse channels like trade shows, online searches, and referrals. Subsequently, these suppliers are evaluated and compared based on elements such as product quality, price, reputation, delivery capacity, and so on. For example, when an electronics company is in search of chip suppliers, it would undertake in-depth examinations of the production processes and quality control systems of multiple suppliers.
3. Negotiation and Consultation
Communicate with the selected supplier and have negotiations and consultations regarding the transaction terms like price, quantity, delivery schedule, quality standards, brand painting (if necessary), structural modification, shipment terms and deposit proportion.
4. Contract Signing
Once both parties come to an agreement, a formal contract will be signed to explicitly delineate the rights and obligations of each party. The contract encompasses all the particulars of the transaction to ensure the interests of both sides are safeguarded.
5. Arrange Deposit Payment
In business transactions, deposit payment secures buyer commitment, reduces supplier risk, and enhances operational efficiency in business transactions.
6. Production:
The supplier or manufacturer arranges to produce the models which are in accordance with the details described in the order.
7. Quality Inspection
After receiving the goods or services, the purchaser conducts a quality inspection to ensure that they conform to the standards stipulated in the contract.
8. Arrange Balance Payment
If the goods or services pass the inspection, the buyer will make the balance payment in line with the agreed method and time.
9. Shipment and Cooperation Maintenance
After received balance, the supplier offers to arrange shipment based on the contract both signed before. Both parties will also consider whether to prolong and deepen the cooperation based on the cooperation circumstances.
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