5 Important Factors To Considered While Importing API And Chemicals From Other Countries

1. Logistics: is the most important aspect for a API and chemical trading and sourcing business.
   
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2. Packaging : If buying chemicals from China- choose (and make sure) the right packaging is used- some suppliers use cheaper drums and you end with leaks during sea transportation. The slide share presentation is a good way to explain and to know more about FDA regulation and pharmaceutical packaging.
3. Certification :Chemical certification is one of the important factor to consider while importing and should know the country of importation. E.g EU- REACH Registration.
4. Anti Dumping– If you’re planning on importing chemicals it is must to check the Anti Dumping for that particular chemical from china.
5. TLC- Total Landed Cost– It is important to calculate the TLC of your imports to get proper profit.

Why is Total Landed Cost Important?

“The purpose of calculating total landed cost is to capture both obvious and hidden costs within the supply chain. Finding the true cost of a product can improve decision making on how to get products to the end user in the most cost efficient manner. Say you have a product that is manufactured in a few different countries and you only base your purchasing decision on the cheapest net purchasing cost. You could potentially be spending more money if you don’t take into consideration the transportation costs, customs, tariffs, taxes, and many other factors that could be considered hidden costs. If you have a clearer idea of the true cost of your products than decision making will be easier. Without total landed cost you could be making decisions blindly on incomplete data.

Created by: Vinita Bhandari http://getdigitalpartner.com/