A recent survey of international purchasing professionals, engineers and supply chain managers reveals that the declining value of the U.S. Dollar has noticeably influenced where they source manufacturing to.
The survey, conducted by MFG.com, resulted in over 500 buyers responding. Among the findings:
- 40% of the participants stated the current value of the US dollar had an effect on where they choose to source their business.
- 47% of the Buyers stated they were sourcing more business in the US as a direct result of the declining value of the US Dollar.
This survey represents the latest evidence of a trend of gradually shifting sourcing proclivities away from China that began in the summer of last year, when
China reduced or eliminated many VAT rebates. More evidence of this shift - and examples of how to capitalize - can be found
here,
here and
here.
U.S. and other mature market manufacturers are still in a good position to influence buyers to consider them as attractive alternatives to their "low-cost" competitors.
If you're a manufacturing SMB, it's a good time to reach out to buyers and explain what makes you different and valuable as a partner in their supply chains. Use your Web site to specifically define those strengths.
Seizing this opportunity can help you win business from buyers that are ready to sold on you as an option.
(According to MFG.com, the entire survey and an announcement regarding future data channels from the company will be made public at the end of June, 2008.)
