Global Sustainability occurs when companies go beyond the confines of their home for the source of goods and services. It could be a shoe company whose products are manufactured in Asia. Represents a clear advantage of participants in the low prices of labor and materials. Here’s a five-point strategy for making your first Global Success Quick a success.
Through a country with low labor costs and good quality control
Terms are usually enjoyed 10-35% cost savings by Sussing.
In the past, the country going to China was considered to have the lowest pricing and acceptable quality. (Be careful here because the cost of transportation from China to your factory door alone is fixed at all costs on your underground price; make sure your supplier offers reciprocal transport prices. Apart from other competitive supplier prices, ensure you will end up with the lowest possible price).
But now, companies are turning to alternative, low-cost suppliers in places like Korea, India, and Vietnam, especially when China is slowly setting its prices. The key to global success is doing your homework before you advance. Find out what prices you need and the quality, product specifications, and timeline that will match your overall strategy.
Source of a country where you can take a plane ride with ease and ease
Once you have established a relationship with a supplier of tens of millions of miles, contact us as soon as you want to meet. These visits inspect the supplier’s facilities to ensure compliance with local laws and regulations, monitor its eligibility (no sweatshop!), Any competitive risks. Or access the market to learn about the Supplier Manual Office. In the works and, finally, see if your product is being built to your specifications.
That said, you have plenty on your plate, so why can the market be picked up or often difficult to get expensive and not visitor friendly? Think it through. Since you are often traveling in this market, love it and are comfortable for a long time. It’s a strategic decision you’re making, not a flash in the pan or a tactical move that provides a quick short-term solution!
The source of a country where you can understand the language
Come on, and you were lucky enough to travel from Vietnam and find a good translator for your business meetings. She does her best to handle negotiations, and after hours of working on this deal, your interpreter leaves the meeting for a short break at a crucial moment. Your key Vietnamese contact says: “I and interested in your Widget 20000.” And your answer is an empty chain. Why? Because you don’t speak the Vietnamese language and have no idea what they say. Sure, this is a distant example, but it can happen, and if your employee looks out for your best interests, he or she speaks the country’s language where you would not be about running a business.
Please don’t overdo it. Or do business in a country where you understand the language, do not trade there or hire someone fluent in the language.
Communication is important when dealing with global supply sources. The thing about detail is quality.
The source of a country where you can respect and abide by the law
China’s voice is complicated? Don’t go there again. If you are reading too much about how China does not offer companies proper intellectual property protection, then take your socializing business elsewhere. But uncertainty alone will not allow you to feel completely confident about the supplier.
Always visit a country where legal protection is available, and the laws are clear, easy to enforce, and broken if enforced. For example, Vietnam is a WIPO (member of the World Intellectual Property Organization), which offers a legal framework and measures to protect intellectual property.
Through a country where you do business with the business, you can trust them.
As far as you decide to start a business, you have to be a real insider, and the only way to establish that is with the person you want to relate to, no matter how long it takes.
If you do not trust and respect your supplier, there is no point in continuing the relationship. But, on the other hand, if that doesn’t work, you’ll survive. And, who knows, you may even meet someone else with whom you can do your best and most inspiring global business.
Once you have found a good global supply source, ask yourself: Do we buy from the best suppliers worldwide, the best prices and the best quality and the best parts of the world? If you can answer “yes,” unfairly, then you are on the right track.