Over the last couple of years, we witness a news trend about China’s increasing labor costs and the reshoring of manufacturing to the West. Still, sourcing industrial products and professional electronics increasingly attractive.
While low cost consumer products are clearly suffering, more complex and higher end products offer more saving opportunities to smart buyers.
Smart buyers go beyond simple labor cost reduction and leverage some of the unique strengths of the Chinese industry to develop sustainable competitive advantages.
Some of these advantages beyond pure production cost:
- Flexibility of suppliers
- Low product design and customization cost
- Capacity to invest in additional capacity or process
- Most dynamic industrial environment in the world
This is where buyers can secure long term additional savings.
- In’s and Out’s of Sourcing in China
- Industrial sourcing in China by BCG
- China still a good place for industrial sourcing
- Key Products and Industries