So you have a prototype and designs made for a product that you’d like to develop – and you are ready to follow through to manufacturing (and you have a solid strategy for your sales and marketing).
Like many entrepreneurs or inventors you’d like to keep your manufacturing close to home and create jobs in your community, you hope. Sometimes this strategy makes sense, but sometimes this option just isn’t available and scaling down your manufacturing costs can mean the difference between success and failure for your business. After all, you’re no good to your community with a good idea but bankrupt and insoluble business.
In your business there will come a time that you will consider outsourcing your manufacturing overseas and you will need to examine your options, and the pros and cons of each choice. In the spirit of full disclosure Sourcing Overseas is in the business of assisting businesses to safely and securely setup their manufacturing overseas. However, you would be surprised how many clients or prospects we advise to keep their manufacturing local. It all depends on the specifics of your project.
For most, the first country that comes to mind when thinking about outsourcing manufacturing is China. But the story is really much bigger than that and while China might be the outsourcing destination of choice if you plan to make millions of your ‘widget’, we actually recommend countries like Taiwan (where we are based) and Vietnam for most small to mid-sized businesses, as a better cost-to-quality proposition.
Consisting of nations such as China, Taiwan, and Hong-Kong. This region is leading the way in both high and low technology products. Over 90% of the worlds IT products come from only these three players. Additionally plastic injection and factory line work with semi-skilled labor are a strong point. They also boast a very well developed manufacturing and supply chain infrastructure.