New Delhi, Hong Kong : Hong Kong-based startup and tech-enabled B2B global sourcing platform BuyHive (https://thebuyhive.com) today announced the launch of its Managed Contract Manufacturing services in more than 20 sourcing markets including China, India, Vietnam, Indonesia and Bangladesh.
BuyHive’s Managed Contract Manufacturing services are targeted at both large and midsized consumer product brands who are looking to de-risk their supply chain and spread their manufacturing across a larger pool of specialised manufacturers across countries. The startup said it will guarantee and underwrite the entire manufacturing value chain end-to-end for brands to minimize their risks arising from working with new or untested manufacturers.
BuyHive will also provide up to 90 days credit to eligible buyers using its Contract Manufacturing services, as a part of its “Buy Now Pay Later” financing program.
Minesh Pore, co-founder and CEO of BuyHive said, “The global manufacturing ecosystem is undergoing a massive upheaval with a growing number of consumer product companies looking to de-risk their supply chains and reduce their dependence on a single sourcing market. We at BuyHive are ready to support these companies with our comprehensive portfolio of Managed Contract Manufacturing services, designed to take the risks out of working with new or multiple manufacturers.”
The Managed Contract Manufacturing services from BuyHive are initially available for products in six major categories, including Home Decor, Garden & Outdoor, Sports & Fitness, Gifts & Premiums, Fashion, Textiles & Fabrics, and Electronics and Smart Home. BuyHive said its team will provide buyers with comprehensive manufacturing capabilities from discovery until delivery. The comprehensive list of services include manufacturer identification, negotiations, and contracting; Tooling and Prototyping; Quality Control and Quality Assurance; Pre-shipment inspections; and Transportation logistics.
“BuyHive will not only take full responsibility for product sourcing –from the first consultation to the delivery of the goods – but also provide post-delivery support. We are also working to provide assured 30-days delivery to the US, and to extend this assurance to the rest of the world soon,” Minesh added.
BuyHive currently offers expert-assisted sourcing as a service, which connects buyers with independent sourcing experts in the world’s leading sourcing markets who know the best suppliers from their professional work experience. Known as ‘Expert Sourcing’, this supplier discovery service is targeted at small and mid-sized retailers or D2C brand owners. BuyHive has more than 5,000 independent and local sourcing experts in its network available for hire.