Turkey is a country located in the middle east. The country has a very unique geographic position as it partly lies in Europe and partly in Asia. Over the last decade, Turkey has highly increased its economic performance and got integrated into the globalized world. The country has some favourable fiscal policies and very sound macroeconomic strategies along with structural reforms. Due to the abundant opportunities in the country, Turkey procurement has caught the eyes of many global investors. Buying goods directly is an easy process but procurement requires you to find the right suppliers at the right price and right location. Every company wants to save cost from overhead while establishing operations.
Though Turkey is a Muslim country, it has adopted the western style of democracy. This makes the country a perfect ally to the western countries who are planning to deal with the Muslim world in the middle east. Because of its strategic location, Turkey helps to form a business link between its manufacturers and the European market. This makes it a very lucrative hub for investments made by the western MNCs. The business culture in the country is very close to the West which makes Turkey a good sourcing market as compared to other Asian countries. Turkey has a very large domestic market and a Turkish based market started by the Ottoman empire. Turkish companies can easily tap into this consumer market comprising millions of people.
What Makes Turkey a sourcing Hub?
Turkey has gained a lot of attention from large corporates in western Europe. Turkey industry mainly includes automotive systems, mechanical components and construction materials. As a large number of companies are hiring Turkey procurement experts, the industrial strength of the country is steadily increasing. The demand for international outsource partners has grown over time. Turkey has a good number of companies which will help you to increase your revenue while cutting down on the cost. Sourcing services mainly target at accelerating the production process and speed up the company’s timeline effectively.
Nowadays, outsourcing has become more of a competitive necessity and less of strategic advantage. In this highly competitive business world, every company is looking for innovative ways to minimize cost, improve the quality of products and ensure a faster time to market. This is why the demand for international outsourcing partners has increasingly grown over the years. Procurement might prove to be the most important link in the supply chain of any company. So, it is very crucial to select the right procurement services provider for your business to run smoothly. Some of the benefits of sourcing from Turkey are as follows:
● Cost Savings –
Turkey is a low-cost country and all the goods and services are available at a relatively cheaper rate than the western countries. If you source materials or services from this country, your business will be able to cut down cost in every aspect. There will be significant savings on time and effort as well as infrastructure cost. Your company can save a lot of money by engaging in procurement from Turkey. Turkey has a very well-developed infrastructure and fast transports. This will help the outside companies to get the products ready in a very short time and launch them in the market.
To enjoy more benefits, Turkey offers a large number of agencies which can be hired for customized services. These agents have a deep knowledge about conducting operations in the country and will be able to give you creative ideas. The upside to hiring these agents is that they are well aware of the economic and political scenario of Turkey. This would help in the long run if you are planning to have a great number of years of association with Turkey.
● Skilled Workforce –
Turkish workforce is highly skilled and is capable of bringing innovative ideas in the procurement operations. They are aware of the latest technological trends and know how to implement them in production techniques. They can provide high quality services and you can reap the benefits of cost advantage. Turkey is known to the entire world for its dedicated workforce. Their employees work for long durations without taking breaks.
The sourcing agencies in Turkey are highly professional. Even under the most adverse circumstances, they deliver their products by deadline. This has a huge benefit for the companies as they can have the products in the market on time. There is no lost opportunity cost due to delay. This is especially helpful when the consumer demand increases and companies need a lot of supply in a short time. Turkey suppliers adhere to their commitment always. If you outsource your organization’s procurement to Turkey, you will get high quality products at minimum price.
● Competitive Edge –
Turkey has put a great deal of emphasis on optimizing costs of the company by employing long-term strategic capabilities. Turkey has become one of the most prominent procurement hubs recently because many companies across the world are looking to get their products from low cost countries without compromising on the product quality. Turkish agencies can help you with quality control, selection of the best suppliers and factories, timely delivery of products and customs clearance for flights. These service providers will ensure that you find trusted products and manufacturers for all your business needs.
However, there are currency risks associated with doing business in Turkey with the labour inflationary pressure. To avoid these risks and ensure that your business runs efficiently, the specialized procurement services are there to help. They can help to create sustainable value in the management of sourcing processes in the country.
A vertical supply chain, strong relationships and speed to the market makes Turkey a very desirable country for sourcing. Turkey procurement is beneficial because it provides a diverse range of good quality products at a cheaper rate. The country enforces strict controls to make sure that the product qualities are not being compromised. The corporate social responsibility of the country is highly impressive. The key to Turkey’s success is its communication and speed.