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It would be easier for a distributor with an established reputation and contacts list to introduce a new brand to the market than it would be for you. As more and more American businesses ship jobs overseas, consumer groups and unions are targeting more U.S. companies for boycotts. Countries with both the company outsourcing and the outsourcing companies are also exerting more efforts to improve and strengthen their diplomatic relations in the sense that both their economies would take a hit should things between them turn sour. Outsourcing also provides an avenue where businesses are able to establish important connections with each other. [8] Neil Mawson, a Strategy Analytics analyst, believes that "The U.S. is well-positioned to design smartphones…but manufacturing them is a whole different ballgame." Please enter your username or email address to reset your password. With the rise in technology, production costs have become less problematic. It’s the copycat culture that empowers the competition and allows for improvements. By providing your supplier with forecasts on inventory levels, you can allow them to track the same data and automate a purchase order on your behalf when needed. The pros and cons of expanding a business internationally show that there are some increased costs, but there is a good chance to experience increased profits as well. You are also assured of the quality, not to mention, a language barrier will not exist. There are hundreds of quality suppliers established in China with real factories. You should track all of these costs as part of your manufacturing expense. Accounting Coach: What Are the Advantages of Departmentalizing Manufacturing Overhead Costs? Many companies mistakenly think that the cost of goods manufactured is labor plus materials only. This results in considerable savings because you can manufacture only the amount of stock that is needed, without over-manufacturing and eating into the budget. If something is causing an element in the fabrication process to slow, with the right tools, managers can quickly identify the cause and work to eradicate the problem instead of working around the consequences later on. The production of specific goods and services is one costly affair if done locally as compared to when they are produced in other countries and shipped to the US. Manufacturing companies, for example, have almost all decided to transfer out of the US and establish a Wholly Foreign-Owned Enterprise (WFOE) to countries where they can operate at a cheaper rate. The Cons of moving your manufacturing abroad. Lower utility, real estate, tax and materials expenses can also help reduce the cost of production outside the U.S. To maintain quality control over your product, you might need to spend more on management, including hiring one or more managers to live near the production facility. APS can be quickly integrated with a ERP/MRP software to fill gaps where these system lack planning and scheduling flexibility and accuracy. [1] http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.28.1.3. Call or text us now at, eCommerce Tips, Tricks and Real Success Stories, The Advantages of Manufacturing in China and the Benefits It Brings to your Business, Chinese manufacturing is a practice that U.S. and international businesses have recognized as an essential asset to reducing prices for their products.

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