Frequently Asked Questions
Sourcing is a strategy in which a business seeks to find the most suitable location for manufacturing a product.
The exponential growth of Asian manufacturing capabilities over the past twenty years has made this region one of the most cost efficient areas for out source manufacturing in the world.
This has traditionally been due to low labour rates when compared to more developed economies.
Procurement is the acquisition of manufactured goods from an outside external source. Sourcing, purchasing and much more are part of a procurement strategy.
It is best if the procured goods are cost effective, of good quality, and come within a timely manner. A good procurement strategy also includes shipping and logistics details.
Supply Chain Management is the active management of materials as they move from supplier to manufacturer to wholesaler to retailer to customer. SCM covers the entire life of any particular product and therefore requires thorough overview.
The focus of Supply Chain Management is to maximize customer value while achieving a competitive advantage over other companies that make similar products.
Quality Control is a process that considers all factors involved in manufacturing a product. This includes aspects such as vendor capabilities, management, and reliability. Thorough and routine inspection is a part of quality control that guarantees customer satisfaction.
Quality Assurance is the guarantee to uphold a level of quality in a manufactured product by performing excellent quality control. Preventing mistakes and defects in products, while all around avoiding any problems, gives customers a strong sense of quality assurance.