Renaud shares 9 ways that importers who are using overseas suppliers to manufacture their products can save money.
Today, more than ever, cost-cutting is important for people at home and in business. Material costs, shipping, and energy costs are all rising, putting the squeeze on importers' profits.
So if there are ways that you can get your products made and delivered and shave the costs somehow, they're sure to be welcome. You'll learn how to reduce costs by sourcing great manufacturers, reducing risks during product design and development, reshoring or near-shoring production, optimizing the product inspections you're doing, and much much more!
Show Sections
00:00 - Greetings.
00:41 - Pre-chat: Our team member's story when she ended up in a quarantine hospital in China.
This episode can be heard here and real photos of the conditions are included: Travel To China In 2022 – Don’t Test Positive!
02:48 - Today's topic: 9 Ways for importers to save money.
03:29 - 1. Avoid big problems on the manufacturing & transportation side.
08:18 - 2. Avoid big problems on the distribution side.
14:04 - 3. Re-engineer your products.
21:42 - 4. Place larger orders with fewer key suppliers to benefit from lower pricing.
23:17 - 5. Use competition among your suppliers to drive down prices.
26:08 - 6. Avoid buying via a trading company if they don't add value that warrants the extra cost (in most cases).
29:49 - 7. Relocate manufacturing.
31:51 - 8. Internalize manufacturing (DIY).
36:21 - 9. Spend money more wisely on inspections, testing, etc.
41:35 - Wrapping up.
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On-site, Subjective Factory Evaluations | Vetting Chinese Suppliers (Part 4)
How To Evaluate Your Supplier's Engineering Capability | Vetting Chinese Suppliers (Part 3)
Initial Vetting Process & Approaches To Weed Out 'Bad' Suppliers | Vetting Chinese Suppliers (Part 2)
7 Ways Suppliers Can Cheat Importers Or Cause Problems | Vetting Chinese Suppliers (Part 1)
Choosing Suppliers: OEM, ODM, Contract Manufacturer?
Supply Chain Risk Management & Reduction
How Manufacturers & Importers Can Prepare For A 'Post-COVID' World
Hot Topics In China Manufacturing Spring 2020
Tips for Buyers of Coronavirus Medical Supplies from China
The Relationship Between Factory Audits, Product Inspections, & Lab Testing
What Buyers Should Look At When Visiting A Factory in China
10 Elements of a QA Strategy in China (Part 2)
10 Elements of a QA Strategy in China (Part 1)
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