Welcome to our special 200th episode of China Manufacturing Decoded, a podcast by Sofeast Group, where we discuss global manufacturing topics to help you decode and navigate the supply chain world.
In this episode, we discuss the impact of the Houthi Yemeni rebels' attacks on shipping in the Red Sea, and how it may affect your shipping costs and other issues you might face. We're joined by our very own Kate Oliynykova, Head of Supply Chain Management at Sofeast Group, who shares her insights on the current political events and their potential ripple effects on importers. Listen in as we unravel the complexity of this issue.
The Red Sea route accounts for 12% of global trade, including 30% of the container traffic passing through the Suez Canal. Any disruption in this route affects not only oil and gas prices but also the availability and cost of a broad range of goods. The current attacks have caused a direct increase in ship insurance costs, prompting bigger shipping companies to opt for alternative routes around the Cape of Good Hope. This, in turn, not only escalates transportation costs but also significantly extends delivery times.
In this scenario, we advise importers to diversify their supply chain, considering options like rail or truck deliveries, or partial shipments with air freight.
What are the repercussions if the situation is prolonged? How can importers better prepare for these unforeseen circumstances? Tune in to this episode of China Manufacturing Decoded as we discuss the critical aspects of this multinational issue. Remember, the Sofeast Group offers an in-house logistics department to help formulate a tailored solution that meets your needs most cost-effectively, given the present situation.
How To Reduce Lead Times From Your Suppliers In China & Asia
How To Choose The Right Packaging To Protect Your Products
Deep Dive Into Product Development Agreements For Importers
The Benefits Of Rapid Prototyping (& Rapid Tooling Methods)
Why Pre-Production Samples Are So Important
Greg Fleming | Vietnam VS China Manufacturers & Digitizing Processes In The Factory
How To Qualify A Contract Manufacturer Or Component Supplier? (Best Practices)
9 Things Small Importers Can't Negotiate With Chinese & SE Asian Suppliers
Phil Brown | ISO 9001 QMS Features, Benefits, & Implementation Tips
Getting To Grips With Non-Recurring Engineering (NRE) Costs
7 Common Plastic Injection Mold Tooling Development, Approval, & Maintenance Pitfalls
Why Pilot Runs Are A 'Must-Do' When Launching New Products
Is Investing In Process Automation In The Factory Worth It? (+ Implementation Best Practices)
Simon Caballero | Common Risks & Issues When Making Garments In Vietnam
The Concept Of 'Design For Quality' (DFQ)
Preventive Maintenance And Its Many Benefits
How We Set Up A New Factory In China (from idea to operation)
A New 'Cold War' Between The USA & China's Effect On Manufacturing
Importer's 'Supply Chain Spring Clean' Checklist To Find Risks & Opportunities
Richard Barnett | Electronics Supply Chain Risk Management in 2021
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