China Sourcing Trends
China Sourcing is no more the domain of large corporations. Also, China sourcing isn’t just about sourcing cheap from China. However, on your own Sourcing from China can be really a daunting exercise unless you are at ease with it. It requires buyers to go out in the market and face challenges that can be unfamiliar.
It is interesting to see how trends in China sourcing changes; sourcing from China is a major booster for economy at large and for shipping and logistics companies and thus opening a whole new set of vistas. Still it is just another aspect of a retail business that's going global.
Tracking the Trends in China Sourcing
Many trends show up besides the appeal China has as a destination for out sourcing. However the most significant trend so far has been the up trend in every sector. China sourcing, since its opening up of markets has seen an unprecedented uptrend which started off as a trickle in favor of China, today stands close to $200Bn.
Tracking the trends in China sourcing isn’t all that difficult, especially if you are aware of what Japan and Korea did a few decades ago. While cheap consumer ware opened the gates for China, efficient logistics and shift of focus to high end products are changing the trends. These trends reveal how cost based China sourcing is being replaced by value based sourcing.
Role of Technology in China Sourcing
Technology intensive processes demand considerable insight if process control is to be sustained. For large MNCs, reliable online technology motivates local operations, and augments the efforts towards maximizing cost effectiveness that China sourcing invariably brings. In addition, last couple of decades has seen huge capital and technology inflows which contributed to the rapid upgrading of Chinese industries; the past decade has witnessed the surging of many capital intensive and technology intensive industries in China.
The churning, the rapid changing trends has brought about, has succeeded in regrouping merchandises into three
1. Technology-intensive
2. Capital-intensive
3. Labor-intensive
The broad changes of trends in China sourcing is easily understood by comparing two time periods set apart by a decade. The paradigm shift in the merchandises the China used to manufacture and sell globally last decade is no more in the focus and what China is making today is Flatron TVs, nuclear reactor components etc. Perhaps the biggest trend lies in the fact that companies that were China sourcing are setting shop there today to tap into China’s latent potential.
Tootoo.com, the leading B2B platform, combining vertical search engine with value added service portal. It has more than 430 000 China quality suppliers and provides top quality B2B services to both sellers and buyers worldwide.
Article Source: ArticlesBase.com - China Sourcing Trends