4 Factors to Consider When Relocating Your Production
By Pritesh Samuel Vietnam is experiencing continued and unprecedented […]MORE
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Companies of all sizes from SME’s to MNC’s frequently approach our firm looking to identify and qualify new potential suppliers in China wince Southeast Asia remains to be an attractive manufacturing hub. In our opinion, having a clear understanding of your foreign supplier requirements and overall sourcing strategy is critical to finding the best potential Asian vendor. With critical questions such as, “What certifications do our foreign suppliers need to hold?” and “What sort of quality control measures do we require in Asia?” answered, the actual process of qualifying a new supplier can begin. To guide this journey, our firm always recommends using a robust three-tiered vetting process, as defined below.
When evaluating which qualified suppliers to add to your supply-chain, always consider selecting suppliers where your business is valued most. In many cases, your company can receive improved pricing and increased influence with smaller suppliers than at readily identifiable best-in-class multinationals.
To learn more about these tips and other ways you can improve the performance of your Asian suppliers, visit ABC University or watch any of our 30 min educational webinars.