A key part of a having a stable supply chain is sourcing effectively. To gain competitive advantage, it’s beneficial to find a suitable supplier at low cost.
LONDON, UNITED KINGDOM, March 22, 2021 /EINPresswire.com/ — A key part of a having a stable supply chain is sourcing effectively. To gain competitive advantage, it’s beneficial to find a supplier who suits you at the lowest cost. Sourcing strategically is important, finding suppliers that account for all happenings in a procurement cycle to get the lowest cost overall, instead of only the cheapest purchase price for goods. Effective sourcing enables companies to fuse their purchasing power to attain the lowest cost possible and minimise risk to the supply chain.
Ensuring your goals fall in line with your component sourcing improves efficiency. It’s beneficial looking further than initial goods cost when analysing a supplier, matching your aims with the supplier than can achieve them best, generating high value at low cost.
Haizol recommend businesses frequently re-evaluate sourcing activities, continually examine the market to identify possible new suppliers, align objectives and requirements with those of the suppliers, ensuring suppliers are chosen based on a business’s specific criteria. When selecting a supplier, work together to assimilate them into the process, and ensure they fully understand the project.
Choose a supplier according to their compatibility and competence in alignment with business needs. Building a long-term relationship, where an effective transaction model between the supplier and OEM is created. A solid relationship with a supplier facilitates future sales forecasts, risk identification, and dealing with a lack of parts. Choosing a well-established supplier will bring maximum flexibility with regard to sourcing parts and provide sourcing guidance and maximum options. Choosing a global supplier is beneficial as they will be less vulnerable to supply chain disruption, such as periods of shortage, manufacturing can continue and supply chain is not disrupted.
Haizol has been around for over 15 years, assisting businesses of all sizes build an effective & stable supply chain with china suppliers. At Haizol, businesses are matched with suppliers based on a variety of criteria, to find the best suited supplier for each project. Using the intuitive website platform, a request for quote can be submit to immediately reach thousands of active suppliers in China and Southeast Asia, who are then able to quote on the project. The matchmaking doesn’t stop there, once the quotes are in, the customer is able to filter based on a variety of features related to the supplier including factory capabilities, location, number of employees, certifications, minimum order quantities, and more.
Choosing China as a key location in the supply chain is beneficial for numerous reasons. The first is getting quality parts. In the past, quality control was not as standardized as today, so there was a risk of choosing a supplier whose quality control practices were not up to standard. The option was to physically go there to check the quality, or hope that each full production batch was at the same standard as the prototypes. In the last few years, due to projects like Made in China 2025, quality standards across the board have been raised considerably. China manufacturers have had to raise the bar to compete with international manufacturers, and ensure their products are the same if not better quality.
China has a wide variety of suppliers available. When manufacturing domestically, there may be limited options, however in China, there are limitless options to choose from. You are able to match with the right supplier that fits with your requirements and has the right capabilities. A business can also benefit from lower manufacturing costs. Often, moving production to China can lower your overall production cost by securing a lower cost per unit. This enables profit margins to increase. Several factories in China will now accommodate orders no matter their size, without high MOQs. There are factories that focus on small orders as well as mass production. Furthermore, Manufacturer’s in China have the capability to manufacture large volumes at speed. With large factories and cutting edge technology, mass production manufacturing of products is commonplace and can be executed with ease.
At the crux of these points, is choosing the right suppler, one that understands the business requirement and shares the same vision, communication is key. Choosing China as a main manufacturing location can mitigate supply chain risk, and enable you to build a safer and more stable supply. For both small and large sizes companies, choose Haizol to help achieve a streamlined and stable supply chain.