The global Procurement Consulting Services market is poised for substantial growth, projecting a net value of $6.81 million by 2028. GSSI, a key player, actively drives this expansion by providing innovative solutions in sourcing, procurement, and supply chain management for overseas customers. With a mission to develop a value-oriented international business model that aligns with the GOI policy of Make in India, GSSI promotes Indian manufacturers and EMS solutions to Western OEMs.
Navigating Supply Chain Challenges
In the wake of the COVID-19 pandemic, the vulnerabi-lities of relying on a single source, particularly in the Far East,became evident to European and Western manufacturers. GSSI recognized this shift early on and capitalized on the opportunity, providing support to German OEMs and UK-based manufacturers looking for alternative sources in India.
"Clients often struggle with finding the right source, adhering to appropriate QC standards, securing the best price, and ensuring that approved parts meet required specifications, particularly when sourcing from India. GSSI responds by providing third-party lab reports, quality certifications, and transparent delivery schedules, leveraging its supply chain expertise to mitigate manufacturing and logistics risks, offering comprehensive solutions to clients", shares Deepak C, Co-Founder.
Success in Focusing on Make in India
GSSI's success in promoting Indian manufacturers in the Western market is seen in competitive pricing against Far East manufacturers. The company excels in redesigning products for European manufacturers, showcasing expertise in reverse engineering and ensuring compliance with European quality standards. To enhance global competiti-veness and reduce carbon footprint, GSSI partnered with Inventec France to establish a distribution channel for critical Specialty Chemicals, including soldering, cleaning, and coating. Leveraging Inventec's eco friendly, globally approved products, GSSI positions them as preferred choices for EU and US customers in the Indian EMS industry.
USP & Core Competencies
GSSI's strength lies in its leadership team, boasting industry veterans with over 30 years of experience in sourcing, procurement, and supply chain management. Unlike other agencies, GSSI's directors possess extensive knowledge of costing, manufacturing processes, certifi-cations, and material specifications, providing a holistic approach to client requirements. Operating across three verticals, GSSI serves as a sourcing and supply chain agent for European clients, engages in the sales and distribution of specialty chemicals, introducing Inventec to India for enhanced local manufacturing capabilities, and actively participates in backward integration, manufacturing specialty chemicals for export.
Client Engagement Process
GSSI's client engagement process starts with a quotation request,followed by a feasibility test for manufacturing in India. After confirmation, GSSI and the client sign non-disclosure and additional agreements. Market exploration identifies suitable manufacturers based on logistics, geography, cost, and quality certifications. GSSI engages with three to four manufacturers for diversified support, leading to transparent negotiations and a final offer. GSSI facilitates manufacturing, handling commercial aspects and rigorous quality checks through third-party test laboratories. The seam less shipment from the manufacturer to the Overseas client is managed by GSSI with competent and strong logistics and customs knowledge.
Company Growth & Future Roadmap
GSSI has exhibited consistent growth, achieving revenues of Rs.1.8 crores in 2021-22 and Rs.2.2 crores in 2022-23, with substantial future projections Rs.8.2 crores in 2023-24. Their strategic roadmap includes expanding import export operations, entering the Middle East market, and targeting revenue of 50 to 100 crores in the next three to five years. Diversifying into the sales and distribution of ecofriendly specialty chemicals for Electronics manufacturing, GSSI promotes GO-Green initiatives, featuring PFAS-free, NGWP-free, ODP-free, and low environmental impact GREENWAY products. Future plans encompass the distribution of thermal heat transfer fluids for immersion cooling of data centers and EV lithium batteries, emphasizing energy efficiency and safety. GSSI's holistic approach extends to manufacturing specialty chemicals with licenses from globally reputed OEMs for sustained growth.
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