Sourcing in China, Low Cost Country Sourcing
China is currently in the midst of huge growth. This growth represents a great opportunity to foreign companies trying to partake in cost optimization for their products/components. Of course with this great opportunity there is risk. The ultimate goal is to manage the risk while taking advantage of the cost down sourcing.
There is no better way to manage your procurement risk in China than to allow NingConsult to act as your sourcing agent in China. We can manage your procurement risk so that you can establish and maintain long term procurement options that meet your needs.
NingConsult and our overseas partner did a survey in 2010 which included 89 western companies and found that a whopping 91% of the companies (all considered very successful by all standards) had already been sourcing their product from LCC (low cost countries). A full one third of those polled had been outsourcing for 5 or more years.
82% of the companies polled specifically named China as the low cost country that was where they procured their products from!
How We Help You Reach Cost Optimization!
At NingConsult all of our work is based on analytical knowledge of the China market. We do not just go out blindly and make suggestions we perform several analysis to insure that you get the best possible scenario.
Here is our methodology that has been tried and true:
- Demand Analysis
- Supply Analysis
- Quotation Gathering and Analysis
- Supplier Selection
- Supplier Audit
- Contract Implementation/Price Negotiations
- Project Handover
Each one of the above listed steps are imperative in a successful procurement arrangement in any low cost country but especially so in China. Thanks to the great economic growth there are plenty of suppliers here in China to choose from, but you need to be sure that the vendor you choose can meet your demands.
We are a research based sourcing agent because through constant and consistent research you can reach your business goals faster and easier!
Often times without the help of a consulting company in China that is well versed in the local market and that can easily collect the data for analysis your experience can be very likely disappointing. Cost down sourcing can only be successful after the right analysis has taken place.
As young professionals we pay attention not only to the China procurement industry but to the entire global market. We keep abreast of the trends worldwide, so you can depend on NingConsult to be on top of things.
Minimizing your risk naturally optimizes cost. NingConsult can help you take advantage of all the cost down sourcing opportunities in China while keeping your risks way down! Let NingConsult help you to achieve the success that is waiting for you in China.