BuyHive – a Hong Kong-based B2B tech-enabled global sourcing platform – has launched Managed Contract Manufacturing services in more than 20 sourcing markets including China, India, Vietnam, Indonesia and Bangladesh.
BuyHive’s Managed Contract Manufacturing services are said to be targeted at both large and mid-sized consumer product brands which are looking to de-risk their supply chain and spread their manufacturing across a larger pool of specialised manufacturers across countries.
The start-up said it will guarantee and underwrite the entire manufacturing value chain end-to-end for brands to minimise their risks arising from working with new or untested manufacturers.
BuyHive further revealed that it 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 programme.
Minesh Pore, Co-Founder and CEO of BuyHive, commented, “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 Décor; Garden & Outdoor; Sports & Fitness; Gifts & Premiums; Fashion, Textiles and Fabrics; 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.