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THE SOURCE CODE BLOG
GCP Ranks No. 406 on the 2013 PROFIT 500
Kitchener, Canada June 3, 2013 PROFIT Magazine ranked GCP Industrial Products No. 406 overall (No. 42 in the manufacturing and distribution sector) on the 25th annual PROFIT 500, the definitive ranking of Canada’s Fastest-Growing Companies. Published in the Summer issue of PROFIT Magazine and online at PROFITguide.com, the PROFIT 500 ranks Canadian businesses by their revenue growth over five years.
Our sourcing process only works when we have full buy in from our Approved Suppliers™ and full buy in requires commitment from the top down. We’ve found when we only have one key factory contact they generally won’t be able to address all our concerns, especially when a pressing issue requires multiple inputs.
Like fashion trends, manufacturing experiences similar ebbs and flows with regions or countries becoming extremely desirable for periods of time, then not. And like fashion no matter what the hottest trends of the day are, theirs always an undercurrent of classic which never goes out of style.
So when we look back over the past several years at the manufacturing landscape, one cannot help but notice the boom and slow down (not bust) nature at the interest level in Chinese manufacturing.
We receive a lot of calls from potential customers looking to have us source their products for them. During our first contact we normally ask for three things:
Experiencing setbacks while working with Chinese factories are part of the reality of working in an environment where there are very few processes and even fewer systems to deal with problems. Thus when a problem arises, they are usually compounded long before being recognized. Ultimately the issue will be resolved but not before the entire supply chain feels the ill effects.
From everything I’ve read. It’s apparent various companies have started moving their production back to the US and Europe. That much we know. What’s not clear is the rate it’s actually transpiring at.
Just under a year ago the BCG announced more than a third of major US manufactures were considering reshoring their production. But the problem with thinking, it doesn’t equal doing.
Whether new to sourcing or an experienced veteran, there’s a lot to focus on in order to ensure the products you need are ordered correctly and delivered on time. While it’s easy to center your attention in the details of product specifications, production planning and logistics requirements. You must not lose sight of the other elements which can just as easily derail your sourcing venture.
Saying “Yes They Can” when they really mean “No They Can’t/Won’t.”
We talk a great deal about creating long-term mutually beneficial relationships and for good reason. We believe by taking quality control seriously and being more transparent it creates the best chance of delivering successful solutions for our stakeholders.
Believe it or not industrial manufacturing is a relationship business. No matter if you purchase domestically or offshore the greatest gains will be had when strong mutually beneficial relationships exist.