TL;DR: China remains the biggest possible manufacturing partner because its order requirements are very low, while other countries tend to work with bigger companies with bigger volume. Nathan Resnick says to diversify by country based on each one's expertise. Have your specifications ready before you source, especially for custom items, to prevent miscommunication and losses.
Nathan Resnick, CEO of Sourcify, brought to life 100 products and projects by democratizing manufacturing. He shares his strategies given the current pandemic as well as the looming trade war of the US with China.
IMPACT OF COVID-19 ON SOURCING NEW PRODUCTS – WHAT YOU’LL LEARN
- Working with China in the time of the Pandemic
- Effects of the Trade Tension of the US with China
- How to get started with Sourcing
- Trends and Tips
KEY POINTS
- China remains to be the biggest possible manufacturing partner given that requirements for orders are very low. Other nations would be working with bigger companies that have bigger order volume.
- Diversification of supply source would depend on the particular country given that each country would have its own expertise.
- When sourcing, it is important that your specifications are ready, especially if the item is customized. This prevents miscommunication and loss on both parties.
- There is a rise in single product funnels that have a possibility for upscales and cross sales in the ecomm community.
80+ in-house specialists across PPC, supply chain, account management and content.
RELEVANT MATERIALS
CONTACT NATHAN RESNICK
If you have queries or would like to consult with Nathan, be sure to connect with him on LinkedIn or Twitter. You should also check out the Sourcify website for to know more about how you can turn your awesome idea into a best-selling product!
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