New B2B Global Sourcing Platform Launches to Provide Transparent, Reliable Post COVID Supply Chain Solution for US Businesses
HONG KONG — Global sourcing startup BuyHive has launched a new self-serve B2B eCommerce platform to connect buyers with trusted verified overseas experts, guaranteeing end-to-end delivery of products per buyer’s requirements.
Founded by three US residents with extensive global trade expertise spanning six continents and the full length of the global supply chain, BuyHive’s specialty lies in making buyers’ sourcing experiences safe and risk-free with multiple layers of quality control and full transparency.
First, BuyHive pre-vets all of the suppliers on its eCommerce platform and only invites those that meet its high standards to join. Since suppliers cannot pay to join, nor to increase their ranking or visibility on the platform, buyers are empowered to make unbiased, informed purchasing decisions that best fit their specific needs.
The new self-serve B2B sourcing platform allows buyers to see verified background information for every supplier, financial due diligence, certificates of compliance, and ratings from previous buyers, among other details. All products on the platform are listed with comprehensive specs, critical details about the design and packaging, estimated lead times, and more.
During the check-out process, buyers can access value-added services from BuyHive’s team of partners such as product testing and inspections from Intertek, DRS (Direct Registration System) from Dun & Bradstreet, export insurance, trade finance, and more. These partnerships allow BuyHive to incorporate the best teams in data and analytics, quality assurance, logistics, sourcing, and manufacturing in order to provide the best service for companies around the world.
Amidst the global pandemic and critical shortage of personal protective equipment (PPE) in the US, BuyHive decided to focus on growing its network of verified suppliers in the healthcare industry first.
In five short months, BuyHive has already handled hundreds of millions of inquiries and shipped over $8.5 million worth of PPE, including everything from medical and non-medical masks to gloves, hand sanitizer, medical gowns, goggles, and more.
To date, BuyHive has signed dozens of big-name customers including the Austin Emergency Center Foundation, Zililingo, University of Pittsburgh Medical Center, and Hoag Health Network, to name a few.
Jonathan Coon, serial entrepreneur and founder of Austin Emergency Supply Foundation, used BuyHive to procure PPE in the height of the pandemic. He said: “In contrast to the opaque processes other companies were offering, the BuyHive team kept me updated constantly throughout the process of sourcing, manufacturing, and inspection and delivered the goods on time and to the specifications, we agreed upon. BuyHive really came through for me with their experience, transparency, and professionalism, and now I know who to trust with my future sourcing needs.”
BuyHive CEO and co-founder Minesh Pore says: “The sourcing world is riddled with old-school solution providers that haven’t adapted to the needs of the fastest-growing segment of buyers— small and medium-sized retailers that lack sourcing expertise. Our solution is ideal for these buyers in a post-COVID world where businesses need to be more profitable than ever and there is an even greater need for trustworthy, transparent sourcing solutions to maximize sales margins without sacrificing quality or service.”
BuyHive will soon expand its eCommerce platform’s supplier network to include products in additional categories; including health and wellness, home products, DIY and hardware, lawn and garden, and children’s products.
According to Pore, one of the biggest differentiators between BuyHive and other match-making platforms like Alibaba, Made in China or Global Sources is that they have in-house sourcing teams and they will take accountability for buyers’ orders. “Our sourcing team will work day and night to make sure we deliver the goods to buyers’ requirements on schedule, making the entire process as worry-free as possible for businesses so they can focus on what matters most to them,” he says.
For more information and to browse the newly launched eCommerce platform, go to www.thebuyhive.com/buy.