Over the years, more businesses, from SMEs to multi-national organisations, have been moving their product development to the Far East.
Why?
Because of the continued growth and investment the Far East is experiencing in advances in manufacturing and innovative product development.
For businesses to remain competitive, bring innovations to life, and ultimately get products to market quickly while retaining quality – moving product development to the Far East to utilise their competitive manufacturing capabilities, streamlined production processes, lower costs, and scalability is essential.
Transforming traditional product development strategies, in this post, we look at the benefits of working with suppliers and manufacturers in the Far East and how we can help you navigate this process and make the most of the opportunities available.
Why move product development overseas?
Robust manufacturing infrastructures already in place– there is no longer the burden or feeling that you must go to the great expense of building factories to manufacture your innovative product or even have expertise and extensive knowledge in manufacturing. Now, bringing your product to market from the creative drawing board can be achieved as soon as possible.
Over the years, the Far East has built solid and well-established supply chain infrastructures as well as leaner manufacturing processes and operations, allowing it to position itself as a leader in getting innovative products to market quickly. By broadening your supply chain infrastructure you also reduce the element of risk.
Lower costs – with access to affordable, skilled labour and removing the need to invest in production facilities, you can generate considerable savings. Savings that you can use to reinvest into your business. Labour costs, as well as the cost of raw materials, are also considerably lower, meaning you can produce your product at a fraction of the cost.
Efficient economies of scale – with streamlined product development processes, well-established supply chains, relationships with local suppliers, and efficient production processes already in place, you can scale product development quickly and effectively.
Creative innovation – the Far East is renowned for its innovative product designs, and when matched with the manufacturing capabilities to produce customised products in large volumes, you receive great product development opportunities that are cost-efficient and scalable.
Manufacturing expertise – Access expertise and knowledge in your area of product development. With access to the latest processes and cutting-edge technology, you will also have valuable insights at your fingertips as local suppliers understand local customs and regulations, keeping you and your products compliant at all times.
Drives efficiency – you will need to have the right certificates and testing criteria for your product development. Working with local product developers in the region can achieve this, meaning faster approvals and testing (which means a more efficient time to market, generating a competitive advantage for you). In addition, due to lowered production costs and streamlined manufacturing processes, you also have the flexibility to scale and adapt to changing markets efficiently.
Working with GHL
With today’s supply chain infrastructure and open digital access, global product development is available for all businesses regardless of size. Offering you more creative product designs, faster time to market, and lower production costs.
However, navigating manufacturing and product development in the Far East is not for the faint-hearted. To achieve a successful outcome, you must work with suppliers who you not only trust but who can deliver quality products and development opportunities.
This is where the team at GHL comes in.
We have years of experience working with manufacturers and suppliers in the Far East. This familiarity and built-up network of trusted partners has allowed us to navigate processes efficiently, avoid delays, and streamline production timescales for clients.
Negotiating contracts on your behalf, ensuring that testing and samples are provided before full-scale production, and maximising the benefits such as affordable, skilled labour and advanced manufacturing facilities are just some of the many reasons why people work with us as their complete procurement partner.
Businesses are continually looking to stay ahead of the competition, and collaborating with product development companies in the Far East is a great way to achieve this.
To find out more about our product sourcing and procurement offer, contact us and speak to a member of our team today.
