How do I start Sourcing from China ?
How do I start Sourcing from China ? Read More »
Sourcing and Procurement-What’s the difference ?
Interchangeable words or unique, complementary activities that together can unlock superior business performance. As a smaller brand or business without a Procurement or buying team where do you start and do you need both ?
Sourcing and procurement are two related but distinct activities that are essential components of an overarching strategic supply chain management plan.
- Sourcingrefers to the process of identifying potential suppliers and selecting the best among them to provide goods or services to a company. It includes activities such as supplier identification, supplier evaluation, negotiation, and contracting.
- Procurementon the other hand, refers to the process of purchasing goods or services from a supplier. It includes activities such as ordering, invoicing, payment processing, and supplier management.
While sourcing and procurement are distinct activities, they are closely related and often overlap in practice. A strategic sourcing approach can help companies optimize their procurement activities by ensuring that they are working with the best suppliers and getting the best possible prices and terms. Procurement, in turn, is an important part of the sourcing process, as it involves executing contracts and managing supplier relationships to ensure that goods and services are delivered on time, at the right quality, and at the agreed-upon price.
Building a strong Sourcing Strategy and Executing the resultant Procurement Strategy can deliver a range of benefits
- Reducing costs
- Improving Quality
- Improving efficiency
- Managing Risk
- Ensuring Regulatory Compliance
- Speed up innovation
- Improve Customer Experience and Brand Reputation
So where do you start creating your Sourcing Strategy ?
The key to creating, delivering, and benefitting from a strong Sourcing Strategy is to work with a partner who shares and understands your commercial ambitions. In addition, they should have:
- Experience operating in the markets that could be of interest particularly China. Delivering established contacts and factory relationship networks
- Offices established in all product markets to ensure language, time zone and business operating styles are no barrier to delivery
- Experienced colleagues who can support your requirements whether they are for consumable or industrial products
Independent QA teams who can ensure your confidence in the delivery of your products both to specification and to time
At ET2C we have been working with our clients for over 21 years. Acting as our clients bridge to their Strategic Sourcing partners. Creating and delivering Strategic Sourcing plans, including independent on the ground QA.
Working with Start Ups and E-Commerce companies to accelerate their competitive advantage, delivering quality and compliance. We have over 250 colleagues based in seven countries to give you feet on the ground to ensure your Sourcing plans are delivered effectively.
If you have any questions or would like to explore how you could benefit from our experience please drop us a call at contact@et2cint.com
Sourcing and Procurement-What’s the difference ? Read More »
Why do I need a Global Sourcing Strategy ?
Global Sourcing Strategy, Asia Sourcing or China Sourcing are terms that are constantly being talked about and searched for online. How do we define them and what are the benefits to your business or brand? Are they purely the remit of huge organisations or can smaller companies derive all the benefits to grow their business?
As a small business or brand start up competition can be tough and relentless. What can immediately help to build your competitive advantage is an effective Sourcing Strategy.The creation and delivery of which can rapidly deliver bottom line benefits as well as superior quality and compliance controls. Building your business profitably and protecting your brand reputation. The cornerstone of your long-term growth.The era of globalisation is still with us, despite the continual turmoil from the Pandemic and the War in Ukraine. Whilst the last few years have been difficult for many the opportunities to build your competitive advantage are still there and as strong as ever.Indeed, in many markets not sourcing from China or Asia and put you at a potential disadvantage.So what should you expect a Sourcing Strategy to deliver to your business?
- Cost savings: By sourcing goods and services from countries where skilled labour and materials costs are lower. Where factories have consistently invested in their capital equipment to ensure their innovation capabilities. Companies can reduce their costs and increase their competitiveness in the global marketplace.
- Access to new markets: Global sourcing can provide access to new markets and new suppliers, which can help companies diversify their supply chain and reduce their dependence on any one supplier or market.
- Increased efficiency: By leveraging the expertise and capabilities of suppliers around the world, companies can increase their efficiency and improve their supply chain performance.
- Improved quality and Compliance: Global sourcing can enable companies to access suppliers with specialised expertise and capabilities, which can help improve the quality and performance of their products.
- Enhanced innovation: Global sourcing can facilitate the transfer of knowledge and best practices between suppliers and companies, which can help foster innovation and drive product and process improvements.
- Risk mitigation: A global sourcing strategy can help companies mitigate supply chain risks by diversifying their supplier base and reducing their exposure to geopolitical, economic, and environmental risks in any one region.
Overall, a global sourcing strategy can help companies increase competitiveness, reduce costs, and improve supply chain performance. However, it also requires careful planning, management, and coordination to ensure that the benefits are realised and the risks are managed effectively.
Potentially the most important decision to make is not whether to build a Strategic Sourcing plan but who to partner with to take those first steps into a new market. Where time zones, languages, communication expectations and ways of doing business maybe very different.
At ET2C we have been working with our clients for over 21 years. Working as our clients bridge to their Strategic Sourcing partners. Creating and delivering Strategic Sourcing plans.
Working with Start Ups and E-Commerce companies to accelerate their competitive advantage, delivering quality and compliance. We have over 250 colleagues based in seven countries to give you feet on the ground to ensure your Sourcing plans are delivered effectively.
If you have any questions or would like to explore how you could benefit from our experience, please drop us a message at contact@et2cint.com and see how we could help you build your Global Sourcing Strategy and deliver increased competitive advantage.
Why do I need a Global Sourcing Strategy ? Read More »
Mexico Trade boom: Near Shoring US supply chains
Mexico’s Export growth driven by Near Shoring opportunities
Mexico: Second largest economy in South America
With a population of almost 130 million, a rich cultural history and diversity, and abundant natural resources. The World Bank assess Mexico as among the 15 largest economies in the world and the second largest economy in Latin America. The country has strong macroeconomic institutions, and it is open to trade.
Bloomberg in their recent post regarding Mexico’s export growth identifies the key elements driving Mexico’s export growth. Its openness to trade, geography and sophisticated manufacturing base.
US demand for industrial goods from Mexico has been strong as trade between Mexico and its biggest trading partner (80% of exports) has continued to grow. Hitting a record in September $52b.
Increased Government focus on Near Shoring Support
Mexico’s government is actively looking to build policy interventions to attract investment. Strengthening the country’s ability to become a more attractive option for American companies looking to develop Near Shoring or Friendly Shoring elements in their Supply chains. A business response to recent supply chain shocks such as the Russia-Ukraine conflict and China’s dynamic COVID containment policy.
The immediate attraction of the geographical position of Mexico to its Northerly neighbour allows rapid and quick movement of goods North South. Removing all the risk associated with long seaborne transport from Asia.
In addition, wages in Mexico whilst growing quickly are highly competitive with China.
Source: Supply Chain Quarterly
Mexico’s attractiveness as a jurisdiction for Near-Shoring or Friendly-Shoring elements of your Supply chain is further enhanced by the availability of a large labour force. Mexico has about 59 million people in the labour force, and about 7 million people who are available and not yet actively participating.
Summary
Nearshoring has huge potential for growth with an estimated 40% of all goods traded in the world pass through China at some stage. As companies look to build additional Markets into their sourcing strategies. The China + sourcing strategy.
Mexico is well placed to continue its growth trajectory as a highly attractive jurisdiction for Sourcing strategies to focus on.
- Proximity and Trade agreements with USA and Canada
- Sophisticated manufacturing network already in place
- Large labour force and young average population age
- Average wages highly competitive V China
- Shipping risks removed with simple road freight links
Critical factors in Unlocking the Value potential of Mexico
The same with opening any new jurisdiction as part of a wider sourcing strategy several steps are crucial to ensure the positive results you require.
- Clarity of brief on product requirements
- Build a factory shortlist to make final partnership selection
- Audit factory selections with independent auditors
- Align environmental commitments with potential partners
- Build in digitised QC for full transparency
Work with a Sourcing Partner who has a team on the ground to be your eyes and ears. Identifying the right factory partner short list for your sourcing needs
ET2C Global Sourcing Company
ET2C Is a global sourcing company with over twenty years’ experience working with our clients on their sourcing strategies. Our offices in seven countries including Mexico ensure you always have a team on the ground.
If you would like to explore opportunities within Mexico for your sourcing strategy or to discuss your future challenges.Please contact us at contact@et2cint.com
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COP27: A Success or Failure?
COP27 ended a day later than planned with a mix of frustration and hope. In the concluding part of our review of COP27, we look at what was agreed and whether this built on the positive commitments from COP26.
The 27th United Nations Climate Conference (COP27) ended on the Sunday morning with researchers largely frustrated at the lack of ambition and commitment to phase out fossil fuels. This was a key target at the outset but unfortunately there is a clear delineation at State level when it comes to both reliance on this energy source and economic benefits. Notably, COP28 is to be held in the UAE, which should shine a spotlight on oil and gas production.
However, one positive was the agreement in relation to a ‘loss and damage’ fund for low and middle income countries (LMICs) to help them cover the costs of climate-change impacts. This is a big step, and should not be understated having been a topic of conversation for many years. The US Climate Envoy, John Kerry, was one delegate who opposed such a fund, pointing to existing mechanisms already in place to support developing countries.
Having been given an additional day to thrash out a deal, the delegates worked overnight to deliver a final 10-page summary text. There are clear concerns raised in the document, which largely point to the gaps in the consensus reached. It states that limiting global warming to 1.5 °C above pre-industrial levels requires “rapid, deep and sustained reductions in greenhouse gas emissions” by 2030. Calls to phase out fossil fuels were blocked by oil-producing states, and some delegates struggled to find reasons to be cheerful at the glacial pace of decarbonization. The War in Ukraine has led to many Countries, particularly within the EU, refocusing on fossil fuels such as natural gas and this shock to supply has largely been pointed to as a reason for the lack of progress on fossil fuels.
“It’s clear that the window for 1.5 is closing fast”, Chukwumerije Okerere, a climate governance expert stated. According to some, it might not be possible to keep this goal “unless there is massive carbon dioxide removal on an unprecedented scale”, he adds.
Although there were some areas of progress at COP27, it is evident that on the headline target of reducing greenhouse gas emissions the event, although promised a lot at the outset, fell short on decarbonisation.
Impact for Business
Even though COP27 did not build on prior commitment, the conference did still reinforce the need for businesses to have credible net zero plans in place. The focus on loss and adaptation has put resilience to climate change front and centre. The need to make “rapid, deep and sustained reductions in greenhouse gas emissions” by 2030 will create more pressure on business to rapidly develop and deliver their plans to mitigate their GHG Emissions. There is a general expectation that reporting requirements at a company level will further reinforce this.
Whilst many companies have made good progress in their journeys towards Net Zero (at varying tempos), many have yet to take the first steps into measuring and managing their GHG Emissions. To deliver meaningful change in the next 7 years companies will need to rapidly progress in the measurement, management, reduction of their carbon footprint.
One of the biggest challenges is Scope 3, which relates to a company’s supply chain and can be far reaching into dark corners across the World. “For many businesses, Scope 3 emissions account for more than 70 percent of their carbon footprint. For example, for an organisation that manufactures products, there will often be significant carbon emissions from the extraction, manufacture and processing of the raw materials”.
Immediate Challenges
Sourcing teams across all types of business and industry will have to rapidly acquire the skills needed to measure, manage and reduce GHG Emissions. This will address the scale of emissions within current supply chains and identify the potential financial costs of offsets.
- Measurement of Scope 3 Emissions
Companies’ supply chains can be responsible for up to 70% of total emissions. The rapid measurement and identification of emission hot spots are vital to allow rapid positive interventions to deliver tangible progress. Collating and measuring the data can be a pandora’s box of minutiae and assumptions, so making sure you have the right partners helping you in this arena will be key to creating that base line measurement.
- Collaboration
Rapid progress will only be made by working collaboratively with key strategic suppliers. It is essential in getting access to the relevant data, and can require a significant amount of work to be undertaken by your supplier.
- Skills and Data Visibility
Progress on measurement and control can only be delivered with robust data sets shared with your supply chain partners. Creating data visibility will be a major challenge for all companies getting to grips with their emissions management.
Summary
The collection management and decision making to manage and reduce emissions will be of critical importance in the immediate future. One that is essential to the challenge restricting global warming to no more than 1.5 degrees. COP27 may have not got the commitments required at Government level but there is still a significant role to play by individual and busin
eases alike.
Emissions Measurement and Management
ET2C Is a global sourcing company with over twenty years’ experience working with our clients on their sourcing strategies. We are currently rolling out our ET2Carbon tool that enables our clients to create visibility of GHG Emissions in their indirect supply chain (Scope 3).
This will enable emission hotspot identification and management across your supply chain partners. We aim to build visibility, measure emissions, and set out the ability to reduce the GHG emissions year on year. If you would like to know more please contact us at contact@et2cint.com.
COP27: A Success or Failure? Read More »
COP27: The Power of Purchasing To Reduce GHG Emissions
Overview:
Cop27, the latest edition of the Conference of Parties on climate change, took the usual gathering of Politicians, CEOs, Environmentalists and diplomats from Glasgow to the (slightly warmer) Red Sea Port of Sharm El Sheik. The aim was to build on the commitments made In Glasgow and make a tangible difference to the current climate change trajectory.
COP27
As Is usual, the opening salvos of Politicians and World Leaders open the event with high level and well meaning Intentions. The real work kicks off once melee of Leaders get back on their planes (a sail boat would be preferable) and leave the negotiators to see whether they can thrash out additional commitments. The overriding aims remain the same:
- A) Urgently reduce Greenhouse Gas Emissions
- B) Building Resilience
- C) Adapting to the Impacts of Climate Change
- D) Delivering on financial commitments to finance climate action in developing countries.
Unlike COP26, this conference appears to some extent become mired In that last point; the financial commitments of developed nations to finance climate action In poorer countries. There appears to be a lack of consistency In what each country needs (to the point the options are being referred to as a ‘mosaic’ of finance options) and a willingness of those footing the bill wanting to (In some cases not being able to) contribute. The UN chief has already flown back from Bali (G20 Conference) to tell the negotiators to ‘stand and deliver’ In a last bid to push through some agreement. We will wait and see the outcomes.
Road to Net Zero
The challenge we all face to keep Global warming to no more than 1.5 degrees means as businesses and corporations we need to deliver a reduction in GHG emissions of 45% by 2030. The World Economic Forum is clear in Its view that Procurement teams will be vital in delivering the need to control and manage Emissions generated within business value chains.
As organisations start to accelerate their emissions measurement and management they soon recognise that the early reductions made within Scope 1 and 2 can be a small percentage of their overall emissions profile.
Over 75% of emissions can be generated within indirect ‘Scope 3’ supply chain network
This Is Interesting as It Is often where knowledge, access to data and visibility becomes a lot more murky particularly as a lot of Be able to quantify the Scope 3 emissions Is reliant upon third parties ‘beyond your operations‘. With the entangled web of global supply chains, this can really reach companies In all corners of the World where access to this kind of data Is difficult.
Quantification
The Power of the supply chain functions and their sourcing strategies will be vital if companies are going to deliver their Environmental commitments for their stakeholders. Although, Scope 1 and Scope 2 commitments are a relatively simple starting point to measure and manage emissions downwards.
However with the vast majority of emissions being generated in the downstream indirect elements of the supply chain, companies have to rapidly get to grips with the both the opportunity and complexity of Scope 3. If this Is done correctly, the results can certainly have a positive Impact on that ‘net zero’ target for a company.
The key Is establishing a base line. Often, we have seen companies looking to get Into such granular detail that they miss the objective of the exercise. For example, there Is little point trying to get Information on a 30 year old Jinbei van In China, that ships partially completed garments between sewing facilities, to calculate the emissions applicable to the 10 mile drive when you ship 60 CBMs of shoes via air from Shanghai to Los Angeles. It Is a case of diminishing returns at that level of detail. The focus needs to be on the most Impactful factors as a starting point.
Transformation
As GHG Emissions increasingly becomes a key factor with sourcing strategies and the partners selected within the supply chain, it brings with it an increase in complexity and a range of new skills and tools that are required to make positive environmental choices.
The key elements required to transform sourcing strategies Include:
1.Visibility
Creating visibility of the emission data across your supply chain is clearly vital in management and making positive choices. The real power comes from sharing data with supply partners and identifying emissions that need to be tackled first in any intervention planning.
2. Partnerships
Creating partnership across your supply chain with companies who are undertaking a similar shared journey towards emissions control will make the process easier. For many years, we have talked about the value of partnering with the right suppliers and this Is now even more relevant given the data extraction requirements.
3. Shared future vision
As the focus on procurement/sourcing teams builds to deliver service, quality, cost, agility, and resilience together with the overarching emissions management and control, working with supply partners with a shared future vision will become central to effective delivery.
Summary
Supply chain functions and sourcing strategies will Increasingly have emissions management high on their agenda. This will require companies and organisation to rapidly build networks of partners both in the their current supply chains as well as from new supply partners. The huge increase in data collection and management will be a large burden on many companies who are not currently structured to manage this challenge.
The collection management and decision making to manage and reduce Emissions will be of critical importance in the immediate future to rise to the challenge of keeping Global Warming to no more than 1.5 degrees. Although, there are questions that still need addressing over the consensus at COP27, there Is no doubt that companies and organisations will have to be ready.
Emissions Measurement and Management
ET2C Is a global sourcing company with over twenty years’ experience working with our clients on their sourcing strategies.
We are currently rolling out our ET2Carbon tool that enables our clients to create visibility of GHG Emissions in their indirect supply chain (Scope 3). This will enable emission hotspot identification and management across your supply chain partners. We aim to build visibility, measure emissions, and set out the ability to reduce the GHG emissions year on year.
If you would like to know more please contact us at contact@et2cint.com.
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Flat Pack Furniture: A Must Have for Urban Dwelling
Flat Pack Furniture is increasingly important to meet the rising growth in consumer demand
Flat pack furniture is benefitting from widespread the movement of people to more urban living and demand is rising as a result. Today, some 56% of the world’s population – 4.4 billion inhabitants – live in cities. This trend is expected to continue, with the urban population more than doubling its current size by 2050, at which point nearly 7 of 10 people will live in cities.
As urban dwellers we have to deal with the challenges of living in smaller apartments, flats or urban spaces. Space is at a premium in the city and every square metre has to be utilised in the most effective way possible.
Styling and decorating your home is a key part of personalising your living space. Good furniture also helps you to keep your home tidy and uncluttered. A tidy home is great for your wellbeing. As William Morris said,
“Have nothing in your house that that you do not know to be useful, or believe to be beautiful
The life and soul of the home, furniture is the very essence of each and every apartment and house alike, giving personality and individuality to each room – but it certainly doesn’t come cheap. From beds to desks, to chairs, filling a room with stylish furniture can certainly cost a pretty penny or two.
That’s why consumers cannot get enough flat pack furniture.
Flat pack furniture, sometimes known as ‘ready to assemble furniture’, ‘knock-down’ furniture or ‘self-assembly’ furniture is very popular with consumers due to its affordability.
3 reasons why Flat Pack Furniture is a growing market
- Cheaper than pre-assembled furniture
Perhaps one of the biggest advantages of flat pack furniture is that it is substantially more affordable than traditional ‘ready to use’ furniture (yes, we know that building it can be tiresome!). As recessionary headwinds build across many markets the chance to style your home in a more affordable way is more and more appealing for consumers.
- Easy to dismantle
Being easy to take apart and dismantle may not sound like much, but when it comes to moving homes, this can most definitely come in handy and is one of the key benefits of flat pack furniture.
Simplicity in assembling new furniture is a vital part of consumers repeated choice of flap pack furniture as they style their homes. Simple assembly and disassembly also allow not just an ease of build but the option to move furniture around the home easily. Additionally, when you move home you can disassemble and make moving so much easier.
- Personalising and customising
Since flat pack furniture is classically simple and clean in its design, this allows for ample opportunity to completely personalise and design your furniture.
A splash of paint, stencilling designs or getting inspired and turning your furniture into a unique personal creation. Flat pack furniture is perfect to let your creativity loose. Creating pieces of furniture that perfectly fit your lifestyle, needs and tastes.
Summary
The growth of urban living is continuing to drive the demand for flat pack furniture. Helping us all to create our living spaces into the unique homes we want to live in.
Sourcing flat pack furniture is subject to the inflationary pressures and global trade turmoil we have seen recently in many markets.
The opportunities for both Asia sourcing and near shoring through countries such as Turkey are available to buyers and sourcing teams who are looking for interesting and exciting product options for their customers. Jurisdictions such as Vietnam, Turkey and China all offer well designed and high quality furniture ranges.
ET2C is a leading global sourcing company with colleagues based across China, Vietnam, India and Turkey. We provide our clients with the capability to deliver their strategic sourcing ambitions from across Asia.
For more information on how we could help you source flat pack furniture contact us at contact@et2cint.com.
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Plastic Injection Moulding: A Return to Growth
Plastic Injection Moulding as an industry has dipped through the course of the past 3 years during the Pandemic, but is projected to now return to growth.
Overview
Plastic injection moulding and componentry, as a global market, is expected to grow from $343b in 2020 to $476b by 2028 (Source: Fortune business insight – https://www.fortunebusinessinsights.com/injection-molded-plastics-market-101970 ). Demand is returning and projected to surpass pre-pandemic levels as a range of industries are utilising the advantages this manufacturing process can bring to components and products. These include:
- Automotive
- Packaging
- Pharmaceuticals
- Building and Construction
- Electronics
These diverse industries all take advantage from the range of benefits delivered by using plastic injection moulding. Creating light, strong products that can have strong sealing capability and be produce many different complex designs.
The market is largely driven by the Asia Pacific region with their developing industrial base and consumer demand for products. China, India and Japan are major markets and this demand has catalysed investment in technologies within their supplier bases. To that extent, China has a large developed plastic injection moulding capability as one would expect.
Plastic Injection Moulding
So what does this technique involve?
If you have ever been to a factory using this technique, you will have noticed the sizeable machinery in the factory, which requires significant up front Capex. The machine takes the solid plastic (pellets), compresses it and then melts it as prior to it arriving in the injection chamber. The plastic is then injected (as the name would suggest) at high pressure into a customized mould, which is generally made of two parts. The plastic then cools and solidifies and can then be released. Simple!
Moulds & Assembly
As you can imagine, it does get more complicated than this. There are variations in how the moulds interact (two part-moulds, side action moulds and moulds with ‘releasers’) which will depend entirely on the product being made.
In addition, the assembly process ranges from simple to complex. This is based on the budget and the final product being manufactured. Different types of assembly include mechanical, ultrasonic sealed and using adhesives.
Plastic injection moulding is a more automated manufacturing process which relies much less on the ‘human’ touch points. So, what are the benefits of using Asian suppliers given labour is not a significant cost? The largest benefit of leveraging production in Asia is the actual mould tool creation/set-up. This is very labour intensive hence the benefit and as such there are significant reductions in the capital investment required; costs which are often amortized across the product costs, which increases price.
Industry Application
The technique has broad application across a number of sectors. The best way to demonstrate this is to provide some insight on some of the industries where it is commonly used.
1. Medical
The industry demands high quality instruments that are precise and intricate in their design. Plastic injection moulding, with its high-pressure moulding, is capable of producing such instruments in a cost-effective way. The plastic resins used are high quality and can deliver superior mechanical properties such as high tensile strength and resistance to high temperatures.
2. Shoe Industry
- Electronics
Plastic is a good protector against dust and dirt and does not trap moisture. So when you are dealing with electronic components and circuit boards on keyboards and computers, plastic injection moulding is the perfect technique to create the casing and the frames. Given the infiltration of electronic items into our everyday lives, you should now be getting a sense of the importance of this manufacturing technique.
There are other industries that can also be added to the list, such as food and beverages, toy and building.
Advantages of Plastic Injection Moulding
We have seen the industries to which it is applied, but what are the benefits from a manufacturing perspective?
As a manufacturing process, plastic injection moulding has lots of advantages:
- Quality Replication
With the right moulds and resins, it should be possible to reproduce the same product thousands of times to the same quality.
- Low Cost
Once the moulds have been made and evaluated (and invested in) the cost per unit is relatively low compared with other materials and manufacturing processes. The lack of waste also factors into this as well (unlike CNC which has a much higher wastage).
- Mass Production
When the machine is operating, the injection cycle should be a matter of minutes (or even seconds!) per unit. It is therefore an incredibly quick and effective manufacturing process for mass, large scale production runs.
Future Trends
There are some areas of development and innovation that are common to all industries, which are likewise applicable to the plastic injection moulding products.
- Sustainable recycled materials
As the demand for recycled plastic to underpin sustainability targets for many companies and Governments continues to grow, both recycled and environmentally friendly materials will become more available and the technology to process them efficiently and effectively will continue to develop.
- Light-weighting
Largely driven by the automotive industry and their move to electric vehicles, the need to ‘lightweight’ materials and components will drive development of both new materials and technology.
- Automation and AI
The increasing use of technology to manage and refine machinery and material usage will see major new developments and improvements in performance in plastic injection moulding
Summary
As the market for plastic injection moulding has grown rapidly so has the offshoring of many companies product requirements. China as a hub for high quality injection moulding continues to be the first choice for many companies when looking at Asia. But, it is important to highlight that for European/UK based companies Turkey is certainly on the rise in this sector.
ET2C is a leading global sourcing company with colleagues based across China, Vietnam, India and Turkey. https://et2c.com/industrial-components/
We provide our clients with the capability of sourcing their needs from a range of specialist audited suppliers in multiple jurisdictions.
For more information contact us at contact@et2cint.com.
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Sustainable Global Sourcing
Sustainable global sourcing, even with the Immediate concerns of Inflation and the Increased cost of living, remains Important to any business over the long term.
Overview
Sustainable global sourcing remains important for all companies’ supply chains, even though we are living through times of huge turmoil. The events of the past few years have brought huge changes to our lives due to the Pandemic, the war in Ukraine and both inflationary and recessionary pressures across global markets. These events have ushered in significant challenges for business, requiring both a short and medium term response.
However, many of the most severe, long term, risks facing Business are driven by environmental factors. Factors that were effecting us before Covid and still have the potential to pose a significant threat to long term business stability.
- Climate action failure
- Extreme weather events
- Biodiversity loss
The World Economic Forum’s global risk register is clear in their assessment of the global risks. Five of the top ten are linked to the environment.
Our commitments to Sustainable Sourcing
As a leading global sourcing company with offices in seven countries and over 20 nationalities working within our organisation, we have a very global outlook. As a team we have worked to align our business around a future where good business can be good for business.
“instead of simply trying to do less harm we should aim to do some good” Ellen MacArthur Foundation.
Our Vision is to deliver Growth with Purpose
A central part of our vision is to define our sustainability roadmap, identifying how we can play our part in the global challenges outlined by the World Economic Forum and the United Nations in their Sustainable Development goals.
Our roadmap to sustainable business is built upon two pillars
- Reducing our GHG emissions by 20%
- We will be a Zero accident in our business
- Development plans in place for all our colleagues
- % of profits invested in community project
- We will be a Zero accident in our business
- Development plans in place for all our colleagues
- % of profits invested in community projects
- We will support colleagues Volunteering days
Our Strategic Vision
Our sustainability plan is central to delivering our Vision and our Strategic Growth plan through to 2025. It is a bold ambition to better serve our clients, our partners, our colleagues and the local communities that we are both a part of as well as impact.
It reflects our combined ambition as a team of 250 colleagues across the World. To work for a business that has a strong and clearly defined ambition to deliver sourcing in the right way.
Unlocking the value for stakeholders in the extended supply chain, we recognise that only by working collaboratively with all our partners, clients, suppliers, colleagues, and local communities can we start to play our part in overcoming the global challenges we all face.
The Drive for More Sustainable Sourcing
We recognise the increased need to define, measure and take action on the impact of supply chains on sustainability targets.
As sourcing leaders continue to deal with the regular challenges of delivering quality and price within the context of global trade turmoil, they are increasingly having to wrestle with the increasing challenge of sustainability targets.
For companies of all sizes, serving all markets there are increasing questions from their customers, consumers and clients. Not just about the cost of their
products but of the environmental and societal cost and impact in the manufacturer and distribution.
Answering these questions requires a newer more unique set of skills to measure and define targets and to work with the full value chain to take effective action in a transparent way.
For most companies the central element of their environmental commitments will be to reduce their Greenhouse gas emissions (GHG) – particularly on the back of COP26 and Carbon Emissions. Scope 1 and Scope 2 emissions tend to be easier to get to grips with as there are fully within companies control.
At Scope 3 level the challenge becomes harder and simultaneously bigger. Many companies typically seeing 95% of their GHG emissions being created within scope 3.
Conclusion
Building a more sustainable supply chain for many organisations will start with emissions measurement. Creating successful interventions will require collaborations with like-minded partners throughout the value chain and the measurement tools to effectively identify emissions creation and hot spots.
The journey towards sustainable business is one built on partnership, transparency and shared goals.
Supporting Your Journey to Sustainable Sourcing
As a leading global sourcing company, with over twenty years’ experience supporting our clients develop and deliver their sourcing strategies. We are here to support you with all your sustainable business tracking needs. Emissions tracking, social and ethical audit.
For more, email us at Contact@et2cint.com.
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Huge Growth in BBQ and Grill Sales
Grow your Outdoor Category Range with ‘Social Grilling’
A Growth Market
It’s no surprise that the BBQ and outdoor cooking market has exploded over the last few years as consumer behaviour has changed. The pandemic meant we were all spending more time outside and, when socialising was allowed, we were actively encouraged to adopt a more outdoor lifestyle which created huge demand for outdoor grills and BBQs.
But how is the market performing now?
The signs are that not only are these products still in demand, but the predictions are that it is a fast growth category.
The Business Research Company predicts that the barbecues and grills market is expected to reach $42.02 billion by 2026 (CAGR 18.4%)
www.thebusinessresearchcompany.com/report/barbecues-and-grills-global-market-report
Here at Social Grilling, we are also still seeing an upward trend in demand for our BBQ tools and accessories. As customers and consumers are inspired by our brand vision
At Social grilling we believe that only by having the best tools for the job can you truly unleash your culinary creativity
Outdoor grilling accessories are a great way of boosting your bottom line as well as complementing your existing BBQ and grill listings. The data shows the demand and consumers are therefore in an ideal mindset to upgrade or buy specific BBQ and Grill utensils.
The Consumer Trends
Staycations
A combination of the lingering Coronavirus and travel paperwork complexities has driven the massive boom in staycations. On top of this we are also seeing travel disruption with cancelled and delayed flights which is deterring consumers from overseas holidays – again driving up the staycation demand.
Outdoor living
The surge in demand for garden rooms, home offices, garden gyms and more has meant that our attention has been firmly fixed on our outdoor space and how we can improve and have a more fluid indoor / outdoor lifestyle. Cooking on the BBQ or outdoor grill is no longer just an occasion but has been almost adopted as one of the main cooking options of the day as we enjoy our new outdoor spaces more regularly.
Healthy eating
It’s well known that grilling is, generally, healthier than frying. Combine this with healthier food choices and the BBQ is a win-win option. National BBQ Week reported: “Vegetarian or vegan options are becoming increasingly popular on the Barbi in line with the continuing trend towards more meat-free meals, with a flexitarian offer being adopted by many consumers in the choice of barbecued food. It is estimated that around 29% of all BBQs in 2021 contained a primary vegetarian or plant base.”
Source: https://nationalbbqweek.co.uk/bbq-facts/top-20-bbq-facts/
Grow your Sales
At Social Grilling we’ve put together a range of high-quality BBQ and grilling tools and utensils for today’s more sophisticated outdoor cooking market. As complementary pieces to sales of BBQs and grills these can be used flexibly as promotional items, sold individually or grouped together as mini ranges to suit your own brand selling style and retail target audience.
Contact Us
If you’re a wholesaler or distributor and are looking to add or extend your current listings, please get in touch for an initial chat.
As a leading global sourcing company, with over twenty years’ experience supporting high profile clients, we are here to support you with all your sourcing needs.
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