Thailand Sourcing and Outsourcing Agents Asia. Sourcing is a service that is always in demand. Asian and ASEAN (South East Asia) sourcing dynamics are also always changing and a good source today may be not so good six months from now. Low-Cost Country Sourcing: The process of low-cost sourcing consists of two parties. The customer and the supplier countries like US, UK, Canada, Australia, and West European nations are considered as high-cost countries (HCC) whereas resource rich and regulated wage labour locations like China, India, Indonesia, Bolivia, Brazil, Russia, Mexico, and East European nations are considered low-cost countries (LCC). In low-cost-country sourcing the material (products) flows from LCC to HCC while the technology flows from HCC to LCC.
Company producing a good product versus being “Export ready”
An issue frequently experienced in sourcing is the difference between a company producing a good product and being “export ready”. Many newer Asian and ASEAN companies that have been producing for the local market oftentimes produce a good product. This, however, is not enough if the company is going to be a good selection for sourcing. To meet this standard, a company must have had experience exporting and also hopefully to big key markets like the U.S., Europe and/or Japan. The company needs to have people who are fluent in English as the international language of business that are internet savvy and hopefully have a professional website and can answer e-mails and understand business principles discussed in such e-mails.
Thailand and ASEAN Sourcing and Outsourcing Agents in Asia
Labour costs in China and India have been increasing over the years. China was initially one of the lowest labour cost countries known. However, due to the rising demands of people and the increase in the cost of goods, China is no longer regarded as the ‘cheapest’ country to manufacture goods anymore. China is now deemed as less competitive compared to other countries. The increased labour costs have resulted in some foreign firms exiting the country, in search of countries where labour cost is cheaper, like Thailand and Philippines (both ASEAN nations).
A good Buying Office, Sourcing Agent or Purchasing Agent plays a very important role in doing safe and smooth business in Asia. Dealing with ASEAN or Asian suppliers is very time consuming. Working with a Low-Cost Country Sourcing professional can save your business much time, cost and energy etc in Asia. If you are in need of sourcing a product or outsourcing service, please email at contact (at) jobandwork.asia for more information (or use our contact form link above). We may be able to help you with all kinds of importing and exporting needs. We have more than 30 years of experience doing business in Asia.