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China Manufacturing: Companies
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While China is often pointed to as emblematic of everything that's gone wrong with U.S. manufacturing, there's no escaping the reality that the sheer size of the Chinese market makes it an almost irresistible opportunity for growth. In fact, China bought more than $55 billion worth of U.S. goods in 2006. Product quality issues and intellectual property protection are two very real concerns for U.S. manufacturers, but by closely studying both China's culture and its manufacturing initiatives, U.S. companies are finding that the rewards can be worth the risks.
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The easiest way to begin sourcing items in China is through contract manufacturing. Contract manufacturing can offer a company the lowest possible costs, often considerably lower than what would be achieved through its own manufacturing facilities in the country. In its entirety, contracting offers significant benefits:
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Simply put, manufacturing goods in China may not be the Holy Grail anymore for technology companies. That roughly equates to a potential profit margin squeeze. In addition, these manufacturing costs are going to be passed on to you. Bottom line: There may be some gadget inflation on the way.
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Rakon announced that it plans to build a new manufacturing facility in China this year as the maker of high-performance quartz products and crystal components expands globally. The Auckland-based company has teamed up with an existing supply partner to begin building a plant in southern China before the end of the calendar year.
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Companies considering a move into China often initially believe that means setting up their own manufacturing facilities. However, this might be the very last thing to which a company should allocate its resources. Setting up a manufacturing company and facility is a major investment of time, assets and people. Though building bricks and mortar in China is not the fundamental objective, it can happen very quickly that every available resource and relationship is caught up in the construction project and start-up. The likely end-result is a bright, new and expensive manufacturing facility where the costs are not nearly as low as expected – and no sales. This happens over and over again.
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To have a China manufacturing strategy in today's competitive environment does not necessarily mean having to open and staff an office in China or Hong Kong. What it does mean ... is locating and utilizing a reliable and trusted partner in that part of the world, who not only speaks your language and understand your business culture, but also understands the language and business culture of China. One with your main interests at heart, and one who is looking to develop a long term relationship with your company based on reliability, consistency, service and quality.
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