The United States is blessed with abundant natural resources. But the greatest resource it has is its people’s ability to innovate. American ingenuity has led to many of the world’s greatest inventions, from airplanes to computers and much more. That’s what I learned from an article entitled “Beating China In The Aisles Of Wal-Mart.”
While China, Mexico and other countries have the advantage of cheaper labor, U.S. manufacturers are coming up with creative ways to lower costs and deliver products that are better than ones that come from anywhere else. Here are three things you can do to emulate U.S. manufacturers’ success in staying one step ahead of the competition:
1. Do Your Research
Do your homework and make sure you know exactly what you’re getting yourself into before you enter a new market. It’s extremely dangerous to make assumptions, especially when so much information is available to you if you just look for it. If you find an untapped niche or a specific way to differentiate yourself from the competition, then go for it. Knowledge is power.
2. Simplify Processes
China’s advantages of a huge workforce and cheap currency are no match for superior processes. While many foreign manufacturers rely on outdated manufacturing methods and inefficient equipment, U.S. manufacturers are developing new ways to streamline production by building more efficient machines to do work that used to require several older machines.
3. Maintain Quality Control
Customers aren’t just looking for the best price, but the best value. Some Chinese imports have been plagued by issues of poor quality and even negative health effects. By maintaining high standards for their products, U.S. companies may not always offer the best price, but they are much more likely to earn a reputation for having longer-lasting and more desirable products.
Manufacturing has been one of the few bright spots of the U.S. economy for the past several years. This is a result, in large part, of manufacturers’ ingenuity in cutting costs and finding more efficient ways to do business. As long as they continue to think creatively, they’ll overcome any obstacle and beat any competitor who doesn’t follow in their footsteps.
A good way to emulate U.S. manufacturers is by using Fishbowl’s Manufacturing Option. This inventory management software and hardware for manufacturers allow you to create automatic bills of materials, generate multilevel work orders, manage multiple warehouses, and integrate with your accounting software. All of this can lead to tremendous savings in both time and money. Sign up for an inventory software demo today!