9 Ways Importers Can Save Money

In this episode...

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.

 

Related content...

• Travel To China In 2022 – Don’t Test Positive!
• Get help to find great suppliers in China: DIY Sourcing from China Podcast Series
• Explore a comprehensive new product introduction process
• Why You Need Mature Product Designs BEFORE Working With A Chinese Manufacturer!
• 9 Types of Packaging (Benefits, Costs, Sustainability, and more) - Guide for Importers
• 5 Main Reasons For A High Product Return Rate
• The Design for X Approach: 12 Common Examples
• Introduction to Design For Assembly (DFA)
• Is My Supplier A Trading Company Pretending To Be A Manufacturer?
• Chinese trading companies and their dirty little secrets
• Globalism 2.0: North American Importers To Move Supply Chains Out Of China Soon? [Podcast]
• How to optimize inspections & drive suppliers to improve quality to reduce costs & risks?
• Sofeast is tracking the costs of China raw materials to help give you transparency and control when dealing with your suppliers
• Get help with your product inspections and select only those that you need

 

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