You have goals. We all have goals. Goals we set for ourselves and goals that are set for us. In the business world, generally those goals include some sort of a cost savings or efficiency target. What if you could meet multiple goals with one new resource?
Outsourcing your product or as it is more commonly called “Global Sourcing” could be the answer. Wikipedia defines global sourcing as “the practice of sourcing from the global market for goods and services across geopolitical boundaries.” By definition alone, it sounds difficult, but what if it were easy? What if you could take your component or packaged good, produce it elsewhere and have it function exactly the same or better, while still showing a cost save, thus increasing margin on the item? That would be ideal!
To help understand global sourcing, here are my “Top 5” reasons why working globally is absolutely essential to meeting your targets this year:
- Freeing up internal resources – These days companies are doing so much more with so much less. Employees are multi-tasking like never before and every step of the manufacturing process takes time. By working with an outsourcing partner, you are transferring part of your workload (while still saving money in most cases) to make room in your schedule for those day-to-day activities that really make an impact.
- Streamlining – Supplier reduction is huge for companies these days, most companies are trying to weed through their vendor lists and eliminate a percentage annually or at the very least justify their current supplier base. Global sourcing companies have many factories at their disposal who specialize in everything from castings and forgings to precision machining and sub-assembly. You can utilize the Asia sourcing partner to find the right factory for you!
- Budgeting – Two words: Delivered Cost. Partners like United Global Sourcing can provide a product quote which is all-inclusive; manufactured & delivered on one purchase order. From the factory overseas to your warehouse door, no surprises and easy on the budget.
- Peace of mind – Quality is always a concern when outsourcing and it need not be! Many factories in Asia are ISO certified and can meet your quality requirements, whatever they are! In-house quality experts, auditing, even independent testing if needed are some of the services provided by UGS to ensure your standard is our standard.
- Cost savings – All of the above and save money! The average savings by placing your goods overseas for manufacture is between 20-40%; even after letting your global sourcing partner do the work for you!
It is a big world out there and tackling it can seem intimidating, but partnering with an experienced company who vets suppliers, monitors quality, and coordinates the logistics for you can make it all a little easier – and help you meet your goals this year.