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THE SOURCE CODE BLOG
Around a month ago I was contacted by Derek Singleton who provided me a link to an article he’d written on organizations reshoring. In his post, he offers some tips on how companies can reshore as well as evaluates which manufacturing industries are good candidates to return to US shores. At the time he wanted me to help him promote reshoring as a strategy to The Source Code readership. However seeing as we (GCP) currently source and supply 80 + percent of our products from China, I was more than hesitant to do so.
Although after some back and forth we came to a compromise. We settled on me discussing GCP’s business model and describing why assessing our customer needs then fitting them with the best suited supplier, regardless of shore, has worked for our customer base.
So without further ado…
This may seem like an obvious concept but the most important step in creating a successful sourcing venture, either offshore or reshore, is partnering with a supplier that’s best fit for your organization. What that means is, finding a supplier that can consistently deliver on your optimal business requirements of price, quality and delivery. Not an easy find. Especially when trying to identify potential suppliers by delving through pages and pages of potential manufacturers on the web.
To provide you with a little context we’ve been sourcing (mainly from China) for over 12 years. Been through more than 500 factories and currently purchase from GCP Approved Suppliers™ on 3 continents (China, India, Turkey, US). Even though the majority of our customers are searching for the price efficiencies generated from overseas, we do supply product produced by American manufacturing. This is because partnering with a best fit supplier requires a lot more then receiving a manufacturers “best” price and placing an order. It entails creating a methodology for identifying potential suppliers, then measuring each element of their facility, management team, equipment, factory history, etc.
Additionally one must also consider the potential impact a sourced or domestically produced product will have on their brand, end user and bottom line. This is why we strive to establish an open, transparent and mutually beneficial relationship with all our customers. It is important to know their company dangers, opportunities and strengths (D.O.S.) so that locating a best fit supplier on the right shore will work for their needs.
Since a best fit supplier will be unique to each organization or product, there is no one size fits all formula. In the end, the most important aspect is to not cheat your product or business needs. Whether offshoring or reshoring, follow your optimal business requirements for price, quality and delivery then select accordingly.
That’s it for today. Stay tuned for the next weeks post.
(For more than 10 years, GCP Industrial Products has successfully offered its customers a unique sourcing process that allows them to save money, streamline their supply chain and grow with new products. Our plans are to continue to grow based upon mutually beneficial relationships and the quality of our products and services to our ever growing customer base. To contact us please click here or phone 1-888-893-5427. Thank you.)