9 Ways Importers Can Save Money

2022-10-21

In this episode... Renaud shares 9 ways that importers who are using overseas suppliers to manufacture their products can save money. Today, more than ever, cost-cutting is important for people at home and in business. Material costs, shipping, and energy costs are all rising, putting the squeeze on importers' profits. So if there are ways that you can get your products made and delivered and shave the costs somehow, they're sure to be welcome. You'll learn how to reduce costs by sourcing great manufacturers, reducing risks during product design and development, reshoring or near-shoring production,...

In this episode...

Renaud shares 9 ways that importers who are using overseas suppliers to manufacture their products can save money.

Today, more than ever, cost-cutting is important for people at home and in business. Material costs, shipping, and energy costs are all rising, putting the squeeze on importers' profits.

So if there are ways that you can get your products made and delivered and shave the costs somehow, they're sure to be welcome. You'll learn how to reduce costs by sourcing great manufacturers, reducing risks during product design and development, reshoring or near-shoring production, optimizing the product inspections you're doing, and much much more!

Show Sections

00:00 - Greetings.

00:41 - Pre-chat: Our team member's story when she ended up in a quarantine hospital in China.

This episode can be heard here and real photos of the conditions are included: Travel To China In 2022 – Don’t Test Positive!

02:48 - Today's topic: 9 Ways for importers to save money.

03:29 - 1. Avoid big problems on the manufacturing & transportation side.

08:18 - 2. Avoid big problems on the distribution side.

14:04 - 3. Re-engineer your products.

21:42 - 4. Place larger orders with fewer key suppliers to benefit from lower pricing.

23:17 - 5. Use competition among your suppliers to drive down prices.

26:08 - 6. Avoid buying via a trading company if they don't add value that warrants the extra cost (in most cases).

29:49 - 7. Relocate manufacturing.