I usually use this line when I find myself in a funny or peculiar situation that has escalated quicker than expected and ended up with me laughing at myself.
Unfortunately this time around many of our customers, their business's and many industries are finding themselves in a less than funny position but similarly not quite sure how they had arrived in their current position.
So how did this all unfold and why are we now looking at redefining our trading partners and supply chains, with more focus given to locally produced goods and services?
As we all settled into 2020 and the Chinese New Year celebrations went into full swing, those companies producing out of China went into their annual production slumber period. Not at all uncommon and really business as usual. Unbeknown to us all, there was a virus lurking and it would later be determined it had been circulating much earlier than originally thought. That said, how bad could it really be, right?
It was only after China went into full lockdown at the end of CNY and for an extended period of time that the impact for global companies producing in China started to fall behind in production and as a result in sales. Fast forward 30 days and the world is in lockdown, trying to fight off the spread of #COVID19. Just like Klemens von Metternich an Austrian diplomat said of France in the early 18th Century, "When France sneezes Europe catches a cold" so to did we see that when China sneezes, we all go into lockdown.
And to quote another historic figure, the Spanish writer Miguel de Cervantes in his book "Don Quixote" circa 1605 who said “It is the part of a wise man to keep himself today for tomorrow, and not venture all his eggs in one basket.” Well well fine sir, thats how we found ourselves where we are today, with production and supply outside of our control. (Not quite sure what we did, but we not doing that again!) Miguel funnily enough also said "you will see when the eggs are fried" meaning time will tell, and yes, time will tell.
This issue is not solely a problem for business's producing out of China, but rather as the world locked its borders a problem for everyone not 100% in control of all their own production and especially where parts of products came from other countries.
It's time to stop outsourcing and time to start insourcing. You thought I just made up a word but nope, it's a thing #insourcing.
So what kind of insourcing can we do here in Australia when it comes to promotional products and marketing materials. Well I think you will be pleasantly surprised and yes thats the opposite of the lockdown surprise and economic meltdown we have experienced.
Here is a list of some, but not all locally available products in Australia for the marketing and promotional space:
Reusable Coffee Cups
Candy and Confectionery
The list goes on and on. More importantly though, this global event gives us the opportunity to re-evaluate and balance the once lopsided processes and sourcing practises we followed. Keeping in mind that thinking globally and acting locally will ease the pressures we are placing on our planet and a nice little spin-off of buying, sourcing and focusing on local partnerships is, we create local opportunities and new relationships.
If you or your team are not sure where to start, reach out and we will gladly help you get the ball rolling on locally produced #marketing & #promotional goods and we look forward to work together to focus on #tomorrow. Let's collaborate!