Key barriers in expanding business overseas

IDC Manufacturing Insights, sponsored by UPS, conducted a survey with supply chain stakeholders at more than 300 global high-tech firms last year. While this survey was designed to better understand opportunities and challenges in the supply chain management, it also reveals some of common challenges global high-tech companies are facing when they expand their business overseas.

Respondents of the survey are senior high-tech supply chain professionals who either are decision makers or have visibility into the supply chain initiatives of their company. The survey includes multiple industries such as semiconductors, electronic components, consumer electronics, etc. In terms of company size, all respondents were from company with at least US$5M in annual revenue.

We believe the question below is especially relevant for our clients and partners.

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Please note that most respondents for this survey work for a large company with its global operations being already established. However, our experience tells us that these key barriers are very relevant, and even more pronounced for smaller firms.

At JW Global Insight, we have designed our services to address those key barriers especially for small and medium companies that do not have resources to deal with complexities in expanding their business into emerging markets.

For instance, our market development services help our clients understand the appeal of new or existing products in new markets as well as to provide relevant macro economic conditions. We are committed to provide customized in-depth market research, maximize returns on targeted marketing events, and to localize products and services.

Secondly, our business development services are tailored to develop local partners and distributors ensuring long-term sustainable growth of business. These local partners will play a critical role in navigating local regulations and cultural differences, which will reduce the time to set up initial operations.

Lastly, our sales operation services deliver comprehensive solutions for entering a new market, including post sales support, contract management, warehousing, etc. Our goal in providing these services is to simplify complexities in expanding business into a new market so that our clients can spend their precious resources for things that matter most.

JW Global Insight is not a typical consulting firm that focuses on providing economic data, case studies, and industry best practices while leaving execution to clients. Rather, we thrive to become our clients’ trusted business partner that complements each other’s strengths and makes up for weaknesses for greater and measurable business results.