2 October 2013
Spire does an encore at the Vietnam Supply Chain Congress 2013
Asia has long been an established hub for business outsourcing and re-location of manufacturing operations. To factors like low labour costs, abundant access to skills and fast-growing domestic markets, one more advantage can now be added – the rising quality of governance. Recognizing the potential of the Asian market for outsourcing manufacturing, the Vietnam Supply Chain Congress 2013 initiated a series of conferences on supply chain management to discuss the market outlook and current challenges.
Jeffrey Bahar, Deputy Chief Executive Officer of Spire Research and Consulting, was honored to be invited as a guest speaker at the Vietnam Supply Chain Congress 2013 held in Ho Chi Minh City. In his presentation, Bahar identified the trends which were gaining momentum in the production outsourcing sector in Asia. He also highlighted that it was crucial for businesses to understand the risks involved, and set out crisis management plans before setting up business offshore.
Bahar opined that communication and inter-cultural understanding is key to doing business in Asia. He remarked that businesses should ensure the availability of expertise in each country, as well as address regulatory compliance and quality control prior to any agreement.
He emphasized in his closing that vendor management is a crucial ingredient when businesses are looking at off-shoring production. It is also a field where there has been evolution in best practices. Once this element has been taken care of, businesses can be assured of sustainable success, not only short-term growth spurts.
Jeffrey Bahar’s presentation deck on “How challenging is business outsourcing in Asia?” can be found here.
Spire Research and Consulting is the leading research consultancy in global emerging markets. Spire's competitive advantage lies in its ability to deliver actionable intelligence on the external business environment in support of its clients’ strategic decision-making in marketing and business development. Spire's clients include 50 Global Fortune 1000 companies and government agencies in 15 countries. For more information, please visit www.spireresearch.com.