Theo International Co. Ltd, a global company specialized in outsourcing, have inaugurated a new branch office in Ethiopia on Wednesday July 13, 2011. The opening of the company is expected to reduce costs incurred by international business people since they will be able to manage their imports from whereever they are without traveling abroad.

“The company envisions establishing a reputable outsourcing and freight forwarding service to its customers. Through the company, the international business community can reduce search costs related to quality, travel, accommodation, bargaining for a competitive price and removing communication barriers that may arise,” Seble Abrha, General Manager of the company told Capital.

The company was established in 2009 in Hong Kong. It has offices in Hong Kong, Guangzhou, Sudan and Uganda.

According to information obtained from the company, the company follows client’s orders from product development, sourcing, manufacturing, quality inspection, customs clearance to delivery-point through a single point of contact.

The procurement life cycle adopted by successful International sourcing companies consists of five points to be considered. These are information gathering, supplier contact, background review, negotiation and fulfillment. Theo will handle all of this on behalf of clients argued Seble.

First, if a potential customer does not have an established relationship with the sales marketing functions of suppliers of needed products and services, it is then necessary for the company to search for suppliers who can satisfy its requirements.

Second, after one or more suitable suppliers have been identified, Requests for Quotation (RFQ), Requests for Proposals (RFP), Requests for Information (RFI) or Requests for Tender (RFT) may be advertised, or direct contact may be made with the suppliers.

Third, references for product and service quality are consulted, and any requirements for follow-up services including installation, maintenance, and warranty are investigated.

Fourth, negotiations are undertaken on price, availability, and customization possibilities. A purchase order contract to acquire the product or service is followed through close attention to delivery schedules.

And finally, supplier preparation, shipment, delivery, and payment for the product or service rendered as based on contract terms. Installation and training may also be included explained the manager.

CapitalEthiopia