Tips for Giving Business Gifts in Asia

Giving the right business gift for the right occasion is always a challenge. How much should you spend? Should you wrap the gift? Is it even appropriate to give a gift? While gift giving in your country can be complicated, giving business gifts in Asia has a whole other level of nuances. Some general principles apply in all countries, but each one also has its own distinct traditions.

First off, it’s important to understand that your gift shouldn’t be too lavish or over-the-top because you want your host to be able to reciprocate without feeling uncomfortable. Additionally, in some countries, like China, gift giving can be seen as bribery and is frowned upon. Another consideration is whether or not you are going to present gifts to the entire team, or just to the senior most members. The senior member should always receive the most valuable gift.

You also need to be aware of what not to offer as a business gift. Never give someone a sharp object, such as a knife or scissors, as it can be seen as severing the ties of your relationship. You should also avoid clocks because they’re associated with the word for ‘death’ in Asia. Gifts indicating the number four or groups of four, as well as odd numbers and the number 13 are considered unlucky in Asian culture. Finally, gifts that could be considered to have romantic connotations also should be avoided.

Some acceptable gifts for Asian business partners include electronic gadgets, desk and office accessories, liquor, chocolate and flowers. In some countries, such as China, you may even want to host a banquet or dinner at a local restaurant for your business colleagues. The most important element is that the gift is of the best quality.

Red is considered a lucky colour in Asia, so it’s a good choice for wrapping paper. Other positive colours include pink, gold and silver. Always check with the local customs, though, as a certain colour of wrapping paper might be acceptable in one Asian country, but get you into trouble in another.

Mawson Global is uniquely positioned to assist with supplier relationships, from selecting an appropriate business gift to identifying the best source for your products. For more information on how we can help with all your global sourcing needs please, contact us!

What a Research Project Delivers

Research Projects Offer Mawson Global Customers Peace of Mind

Global sourcing can provide significant cost and time saving benefits to companies, while increasing their profits and strengthening their overall business. Yet the risks and time commitment required to successfully utilise global sourcing can be overwhelming.

If your company is considering global sourcing for one or several products, you need all the facts up front – before you make a decision. Mawson Global’s research project (RP) offers the vital information your company needs to make an informed decision about global sourcing. 

A research project provides a detailed analysis of global sourcing for a particular product. Projects are based on specifications, such as volumes and prices, you provide in a sourcing request document. Mawson Global then takes these specs and conducts comprehensive research on sourcing for that product, including:

Sourcing  recommendations – One of the most useful components of the research project is a list of reliable potential suppliers and their locations. Mawson Global starts with 30 to 40 supplies and uses your criteria to narrow down the list to the best possible matches. This detailed and proven process is what distinguishes us from other sourcing providers, and it’s what makes us your best ally for global sourcing your products.

Estimates and ratings – The research project offers a break down of numerous estimates, by supplier, for global sourcing a product, including approximate landed cost, current cost, potential wholesale price, retail price, potential profit and savings, margin, approximate annual volume, potential annual profit, potential profit in three years, and annual import spend. It also features ratings on each supplier’s efficiency, reliability, and quality system.

Product samples – We ship several samples directly to your office for review. This saves you time and confusion in trying to request multiple samples from various suppliers and discern one sample from another. 

Next steps  –  Mawson Global provides a detailed prospectus of the follow-up steps your company needs to take in order to maximize the information in the research project, including supplier visit and sourcing project information, and move forward with your global sourcing initiatives.

A research project is a valuable tool in determining whether global sourcing is right for a particular product, and ensuring your company maximizes the benefits of partnering with an international supplier. Mawson Global doesn’t just provide research into globally sourcing a product; we provide a full spectrum of services to assist you with the entire process – from start to finish. Get your free, no-obligation QuickLook Analysis by filling out our QuickLook enquiry form.

 

For more information about how Mawson Global can help you with all your global sourcing needs, please contact us online!

2015 Forecast for Global Sourcing

The sheer quantity of savings available through global sourcing has made the supply chain strategy increasingly popular over the past few years.

With big improvements in global communications and data analytics, and with the previously slow recovery from the 2008 financial crisis finally picking up momentum, 2014 witnessed businesses shift from fiercely protecting budgets to carefully investing in relationships with a view to break open new markets.

With 2015 now upon us, economic indicators across the board continue to improve. And yes, that means there’s every good reason to stay ahead of the curve by knowing the global sourcing trends you can expect to see in 2015.

Increased adoption of global sourcing

Although many large businesses (such as key players in the semiconductor industry) have taken advantage of global sourcing and manufacturing for many years now, small to medium enterprises (SME’s) have only caught on more recently.

It’s still a relatively new phenomenon and, as awareness of the considerable savings on offer continues to spread, we can expect to see more businesses take advantage in 2015.

Last year, and as predicted, SME’s began partnering with qualified, experienced global sourcing specialists and used the savings on offer to leverage growth. This year, and with the global economic situation improving, we can expect more of the same.

Greater competition in overseas markets

In developing countries, global sourcing is largely seen as a business opportunity for the West, but naturally the domestic markets benefit, too. This year we can expect to see countries with strong manufacturing backgrounds (such as Japan) set up in South-East Asian countries to tailor to the needs of the West.

Consequently, there will be greater competition in global sourcing locations such as South America and the ASEAN. China is increasingly seeing global sourcing as an investment opportunity and will continue to establish facilities both at home and in other countries with low labour costs such as Africa.

Increased nearshoring

As the US economic recovery continues and fracking legislation promises the country a much needed cash injection, it’s likely we’ll see many US businesses adopting nearshoring strategies to outsource manufacturing operations to countries such as South America.

With increasing amounts of manufacturing done overseas in developing countries, greater global sourcing opportunities could arise.

Big data tools increased transparency and cost tracking

We’re increasingly move into the world of “big data” with ever more readily available cloud computing services capable of serious number crunching. When combined with the inevitable adoption of the so-called “Internet of Everything”, global sourcing will become increasingly easier to manage for suppliers, buyers and logistics companies alike.

With more accurate tracking capabilities, realising the financial benefits from value chains will become easier, making it simpler to justify the move to global sourcing, further exacerbating its increase in popularity.

A maturing sector

All of the above trends culminate in what could be described as a maturing of an industry. Many factors come together to make global sourcing not only more accessible, but more efficient and potentially with even with bigger savings on the table.

If you’d like to learn more about how to stay ahead of your competition by freeing up cash flow  through sourcing globally, contact Mawson Global for a QuickLook Analysis today.

Welcome 2015

Happy Holidays and thank you for helping this be such a successful year. In 2014 our clients have seen savings of over $23 million and many have transformed their business. Without you, this would not have been possible!

Many of our clients find that the next few weeks is a really good time to review the long term goals in their business. The day to day operational issues are little quieter through January and they can focus on big changes for 2015.  So if you are thinking of making global competitiveness a goal this year please get in touch, we would love to help.

Given it is a gift giving time we have shared an article on giving business gifts in Asia. Please take look, we would love to hear your thoughts. 

Thank you for your support and belief in us to continue helping businesses reach their goals.

Don’t forget, if you haven’t yet contacted us to find out how global sourcing can transform your business, our QuickLook Analysis of your product is free.

Thank you very much, 

The Mawson Global Team

Is Global Sourcing Right for You?

Are you considering global sourcing for your business or your clients? Wondering what your first steps should be?

Mawson Global’s mission is to make international growth simple and attainable for all companies, regardless of their size or budget. Quite simply, we connect you with suppliers and partners across the globe, to help you increase profits, improve efficiency, and strengthen your overall business. No matter what products you need, we aim to find a reliable, more affordable overseas supplier for you.

Most Mawson Global clients save at least $100,000 on their first projects, and their savings are typically between 40 to 70% of domestic prices. At last count, Mawson Global clients have saved almost $20 million using our global sourcing services.

Our clients come from a wide variety of industries and companies, with varying sizes and revenues. But they do share some common characteristics:

  • They buy products not manufactured in the domestic market.
  • They spend more than $50,000 with any one supplier.
  • They are planning to purchase plant and equipment worth more than $50,000.
  • They are a company’s owner, CEO, COO, or CFO.
  • They are prepared to spend $7,000 to save $75,000!

Mawson Global is confident that we can assess your potential cost savings without disrupting your supply chain. We are not broker-agents; our services are fee-based, and we work without taking a commission. Our research and advice are also completely independent and unbiased.

We have professional teams based in a number of countries to help businesses around the world safely minimise any risks inherent in global purchasing.

Want to know if Mawson Global sourcing is right for your company? Take our 10-product challenge. We’ll ask you to tell us five to 10 products that you now buy from an importer, and then we’ll work to find those items from a cheaper international supplier.

Now is the time to find out if global sourcing can help you grow your business. Contact Mawson Global today!

Sourcing From China on the Rise

As global economic indicators have shown incremental improvement over the past several months, it could also point to a positive position for Chinese manufacturers and service providers. According to the most recent International Sourcing Confidence Index, confidence from multinational companies that source products from China increased in the third quarter, up from 50.40 to 51.28, according to the Shanghai International Sourcing Promotion Group Co.

The Index is a measure of the confidence that multinational companies feel with regards to sourcing products in China. The survey interviewed more than 200 multinational companies that have a presence in China. A reading above 50 indicates optimism, and the third-quarter index represents the highest mark in a number of quarters. The index’s improvement also indicates that the global market might be inclined to source more products from China.

According to the most recent trade information, exports from China grew to 7.2% in August, up from 5.1% in July.

With four experienced individuals staffing our office in Qingdao, China, Mawson Global is strategically positioned to help companies and organizations of all sizes and disciplines to identify and acquire the most cost-effective suppliers of products and services in the Chinese market.

Because we have a team on the ground in China, we’re able to minimise the risks associated with global sourcing and help your company make the most out of global sourcing its products. Our team members are knowledgeable about international standards, and understand local languages and cultures. Having a team in China also means that Mawson Global can quickly identify suppliers that meet your quality standards, and provide you with a partner with whom you can cultivate a long-term relationship.

There are a number of reasons to partner with Mawson Global for your global sourcing needs, including:

  • We are a global leader in product sourcing with more than 70 years of family experience.
  • Small and medium enterprises get Fortune 500 sourcing expertise for a fraction of the cost.
  • Mawson Global identifies high-quality suppliers that you can build a long-term relationship with.
  • These relationships enable your company or organization to become a key player in the global market.
  • Sourcing through Mawson Global will keep you ahead of your competition.
  • Partnering with Mawson Global helps your company slash costs and increase your profit.

For more information on how Mawson Global can help you join the global arena, please take our 10 Product Challenge or contact us.

Mawson Global Client Experiences Remarkable Cost Savings

Organization: Manufacturer of steel and innovative product development

Looking to Source: Bubble wrap

Results:

* Annual cost savings of more than $79,000.

* Rapid procurement of multiple sourcing options.

* A variety of pricing options from a diverse group of qualified suppliers.

 

The Objective

Our client, a small, independent roofing company, has only been in business since 2009, but it’s quickly expanding, both in size and in the products and services it offers. The client provides a traditional mix of domestic and commercial products, and is constantly developing new products. Always searching for ways to save on the bottom line, the company sought out Mawson Global to help it identify a reliable global sourcing partner that will help it save on the cost of shipping and packing materials.

 

The Approach

Because of Mawson Global’s expertise in globally sourcing materials, the client engaged us to identify reliable global sources for bubble wrap.

Because we have “boots on the ground” in China, we were quickly able to research a number of suppliers. Taking into consideration the client’s specifications for the product, we delivered a detailed list of suppliers from various provinces in China.

Our established rating system enables us to gauge the top suppliers by monitoring efficiency levels, reliability and quality. So within a short period of time, we were able to present the client with four different supplier options in our informative, easy-to-read Sourcing Report.

 

The Benefits

Significant Annual Cost Savings

Substantial Savings: As a result of Mawson Global’s global sourcing expertise, the client selected a vendor that will help it experience an annual cost savings of more than $79,000.

No Additional Costs: There are no hidden costs or fees because Mawson Global operates on a fee-for-service model. This also means that the client pays for the service once and continues to enjoy the benefits for years to come. 

Flexible Alternatives

Future options: Because of Mawson Global’s approach, the client not only has acquired a provider for its current needs, but has direct access to a number of suppliers for future projects as well.

Comprehensive approach: Mawson Global not only conducted its QuickLook Analysis, but engaged its Research Project capability as well.

Added Bonus: The client able to partner with a new supplier for the required product and can now quote on more product because of the cost savings.

Skilled, professional staff: Our Asia team members have been in the area for an average of six years, and during that time they’ve developed a streamlined process for selecting trustworthy, reliable suppliers that meet our high standards for quality and for customer service. This team, combined with our proven supplier ratings system, is why we were able to quickly address our client’s request for global sourcing options for bubble wrap.

2014 Forecast for Global Sourcing

As the economy continues to rebound after the tough global recession of the last few years, many companies and markets are poised for a resurgence. For firms in manufacturing and other industries that rely on global sourcing, 2014 stands to be a growth year.

While budgets are always a top consideration, this year the focus will shift from slashing costs to investing in relationships that scale production, break open new markets and increase revenues.

Here’s a closer look at the trends we expect to drive global sourcing in 2014:

Small- and medium-sized firms grow through sourcing: Global sourcing is synonymous with big business. Retail giants drive up profits by sourcing components and products cheaply around the globe thanks to complex value chain management. Increasingly, small- and medium-sized firms are taking advantage of global sourcing by partnering with qualified sourcing companies. As a result, they’re able to access production capacity, cheaper components and affordable global talent. Small businesses can then reinvest those savings into growing their companies and better serving their customers. 

Integrating global marketing with global sourcing: Another trend that’s on the rise is the increasing integration of global marketing services for companies doing business abroad. From building relationships with a country’s leading suppliers to paving the way to do business in a new market, global marketing provides international businesses with an insider perspective on foreign markets. Global marketing services provide businesses with insights into distribution channels, on-the-ground representation and help identifying the best partners to meet top business goals.

Technology plays a bigger role in delivery: Several technologies are changing the service model in the global sourcing field. Big data is giving better insights into the savings and efficiencies that sourcing creates for specific businesses, and making it easier to pinpoint bottlenecks that need to be addressed in the production process. Cloud-based technologies and mobile devices are making it easier to stay connected with suppliers 24/7, and creating global communications infrastructures that are fully integrated to streamline communications and data sharing. Finally, there’s an increasing focus on enhancing global security across partners and along the value chain to better protect valuable client information, financial data and trade secrets.

2014 promises to be an exciting year for companies that are ready to grow through investing in technology, integrating marketing with global sourcing and making global sourcing accessible to companies of all sizes. If you’re ready to leverage global outsourcing to grow your business in 2014, contact Mawson Global today for assistance with your global sourcing, marketing and commerce solutions.

5 Tips For Doing Better Business in Asia

China is the largest supplier of goods to the United States, and the trade of goods and services between the two nations is a multi-billion dollar relationship. But in order to gain a foothold in the global sourcing industry, there are some cultural and business customs you will do well to adhere to if you want successful.

Mawson Global can act as a liaison between you and suppliers, and accompany you on overseas supplier visits and meetings. However, there are some important customs you need to be aware of before you go. Here’s a quick guide to get you through the trip embarrassment-free.

  • Relationships before business. There is a saying in China that you don’t discuss business until the third cup of tea. The Chinese place great importance and value in developing relationships first and conducting business second. The best course of action is to learn about your host’s country, culture, interests, and share your own interests. Once trust and cooperation has been established, then get down to business.
  • Always be on time. While the Chinese are occasionally late to meetings, your punctuality is a sign of respect. The pace of business in China is somewhat different; so don’t be put off if your hosts are late to a meeting. Just don’t cause the delay!
  • Pay attention to your body language. Talking with your hands, pointing, waving, and gesturing are rude in China. Talking with your hands in your pockets is also disrespectful. Even a simple handshake should be handled in a modest manner. Too firm a grip, too much hand pumping, or too long of a handshake can be considered aggressive. Also, it’s customary to pass and offer things, such as dishes at a meal, with your right hand rather than your left.
  • Keep a calm demeanour.  Avoid being overly boisterous or too forward with potential business partners. Instead, approach business negotiations with a calm demeanour, patience, and dignity, and you’ll win the day.
  • Be prepared to dine and drink. Entertaining is a vital component to Chinese business culture. The Chinese like to conduct business over lunch or dinner, and they enjoy having drinks during and after the meal! Business deals often are completed over a meal. Make sure that you plan for this in your daily schedule.

With a team located in Qingdao, China, Mawson Global is uniquely positioned to assist you with your global sourcing ventures in China. Please contact us to learn more about how we can help you during visits, as well as with other global sourcing needs!

 

Sourcing From China on the Rise

 

As global economic indicators have shown incremental improvement over the past several months, it could also point to a positive position for Chinese manufacturers and service providers. According to the most recent International Sourcing Confidence Index, confidence from multinational companies that source products from China increased in the third quarter, up from 50.40 to 51.28, according to the Shanghai International Sourcing Promotion Group Co.

The Index is a measure of the confidence that multinational companies feel with regards to sourcing products in China. The survey interviewed more than 200 multinational companies that have a presence in China. A reading above 50 indicates optimism, and the third-quarter index represents the highest mark in a number of quarters. The index’s improvement also indicates that the global market might be inclined to source more products from China.

According to the most recent trade information, exports from China grew to 7.2% in August, up from 5.1% in July.

With four experienced individuals staffing our office in Qingdao, China, Mawson Global is strategically positioned to help companies and organizations of all sizes and disciplines to identify and acquire the most cost-effective suppliers of products and services in the Chinese market.

Because we have a team on the ground in China, we’re able to minimise the risks associated with global sourcing and help your company make the most out of global sourcing its products. Our team members are knowledgeable about international standards, and understand local languages and cultures. Having a team in China also means that Mawson Global can quickly identify suppliers that meet your quality standards, and provide you with a partner with whom you can cultivate a long-term relationship.

There are a number of reasons to partner with Mawson Global for your global sourcing needs, including:

  • We are a global leader in product sourcing with more than 70 years of family experience.
  • Small and medium enterprises get Fortune 500 sourcing expertise for a fraction of the cost.
  • Mawson Global identifies high-quality suppliers that you can build a long-term relationship with.
  • These relationships enable your company or organization to become a key player in the global market.
  • Sourcing through Mawson Global will keep you ahead of your competition.
  • Partnering with Mawson Global helps your company slash costs and increase your profit.

For more information on how Mawson Global can help you join the global arena, please take our 10 Product Challenge or contact us.