In recent years rapidly developing economies such as China, India and Brazil have really become global powerhouses. The repercussions for the wider world of business and commerce are hard to measure, but suffice to say having suppliers who can deliver exactly what is needed, at the right time, are placed at an advantage when up against the competition. The explosion in demand for foreign exports at competitive prices has really placed China in particular at the front of the world product sourcing stage.
China’s Legacy of Consumer Goods
China has long had a wide and efficient manufacturing base in the field of electrical consumer goods and computing and these markets especially are reaping the benefits of this experience and maturation of production processes and smooth running supply chains.
Recently, many companies have been looking to expand on the products coming out of China and there have been huge gains in this area.
The Sense of Sourcing from China
Sourcing goods and materials from China is always going to make sense from a business point of view. The costs can be up to sixty per cent lower than in competing markets so it is definitely a winning game to be in if you get it right. There are many elements of dealing with China that really put a smile on the face of industrialists and business leaders. Consider the good cost structures, the innovative product and process developments, a skilled and low cost workforce and diverse supply bases and it all adds up to the dream package.
Cultural and Business Challenges
Sometimes there can be problems when cultural and business norms are at odds with each other and some foreign businesses cite frustrations with the opacity of the supply chains at times, but overall, the signs are good that sourcing goods and materials from China are set to continue and grow.
Support from Sourcing Companies
For foreign businesses keen to buy in to Chinese exports but at a loss where to start, specialist sourcing companies like source-china.com/are the answer. They will run the whole show for you, from sourcing to delivery on site and because they are familiar with how the Chinese systems function, efficiency and reliability is guaranteed. The challenge of overseeing and managing such an extended supply chain could be very daunting for an outside company, but this difficulty is removed when using such firms. In addition to this, solid back up and customer service support is increasingly separating the average companies from the excellent ones. They understand that dipping a toe into the Chinese market can represent huge risk to some companies and with their expertise and knowledge of how they do things in China, risk and problems are minimised.
What can be Sourced from China?
So what kind of products are we sourcing from China? Perhaps it’s better to look at it the other way! What aren’t we sourcing from China?! Being such a huge powerhouse of industry, churning out useful and well manufactured products by the million, it’s easy to understand the demand satisfied by those enormous ships we see piled high with steel storage containers. Shipping goods from China can take a while, but with the cost benefits it’s usually worth the wait. At the moment the products that are popularly sourced from China include mobile phones, clothing, computers and computing accessories, e-cigarettes, fashion footwear, LED light bulbs and hair extensions to name a small few. You may notice that all these items are small in size and far easier to transport and ship. For really large items such as cars, pre-fabricated buildings or plant machinery there are dedicated companies that can interface between the Chinese suppliers and foreign businesses to ease the transaction.
The world is getting to be a smaller place as distant lands once so far away as China are now becoming regular business partners with western counterparts. The advent of digital technology and improved logistics and communications have really helped our relationship with China to mature on a commercial footing, which is mutually beneficial, of course. None of this would have been possible if China hadn’t made changes to the way its economy functioned in order to secure its admission to the World Trade Organisation back in December 2001. But it’s safe to say that since China was welcomed into the world trade fold, their influence and power has gone from strength to strength. Today, China has earned a reputation for being the go-to country for a wide range of products and services that fifteen years ago would have been hard to imagine…