China Plus One: Strategies for Global Supply Chains with Jeff GoldsteinWelcome to another episode of the Asia Business Podcast. Today, we are joined by Co-Host Chris DeAngelis are privileged to welcome Jeff Goldstein, a friend of the show and an expert in supply chain management, sourcing, and contracting in Asia. As the founder and president of Onward Global, Jeff offers invaluable insights into the intricate dynamics of Asian supply chains. Introducing Jeff GoldsteinVisit Onward Global Jeff Goldstein is a seasoned professional with 15 years of experience in China, overseeing supply chains and founding Onward Global—a consulting and contracting partner specializing in sourcing and supply chain management across Asia. His experience spans multiple countries, including Cambodia, India, Bangladesh, Vietnam, and Indonesia, which provides him with a unique perspective on the evolving landscape of global supply chains. The Impact of COVID-19 and TariffsIn today’s episode, Jeff delves into the challenges posed by recent global events, such as COVID-19 lockdowns and increasing tariffs, which have magnified the importance of effective supply chain management. These disruptions have underscored the need for businesses to diversify their supply chains to mitigate risks associated with over-dependence on China. Exploring the China Plus One StrategyJeff highlights the significance of the "China Plus One" strategy, where businesses look to expand their manufacturing and supply chains beyond China to other countries. This approach not only helps in risk management but also in leveraging the varied advantages offered by different regions in Asia. However, Jeff warns that this strategy requires substantial time, resources, and a strong alignment within the company to be successful. Country-Specific Opportunities and ChallengesDrawing from his extensive travel and work across Asia, Jeff shares insights into the specific opportunities and challenges faced by businesses in different countries. For instance, while India presents exciting opportunities due to its raw materials and English-speaking workforce, it also poses challenges related to regulatory barriers and a long-standing focus on the domestic market. The Role of Chinese Factories in Southeast AsiaIn an interesting turn, Jeff uncovers the industrious nature of Chinese businesses that have succeeded in establishing operations in Southeast Asia. These businesses demonstrate remarkable agility and a capacity to set up fully operational factories in countries like Indonesia within just one year, highlighting the dynamic nature of the Asian manufacturing landscape. Overcoming Quality Control ChallengesJeff emphasizes the importance of quality assurance and its critical role in ensuring the success of supply chain operations. He explains how recent economic pressures have increased the risk of corner-cutting in Chinese factories, which reinforces the need for stringent quality control measures and robust contract management. Building a Resilient Supply ChainFor businesses looking to optimize their supply chains, Jeff advises adopting a holistic approach that encompasses risk management, quality assurance, and strategic diversification. He advocates for businesses to be proactive, invest in building local teams, and develop strong relationships with suppliers to ensure sustainable growth. Final Thoughts and Contact InformationFor businesses striving to navigate the complex world of Asian supply chains, Jeff Goldstein stands out as a knowledgeable guide. To learn more about how Jeff and his team at Onward Global can support your business, please visit onwardglobal.com or reach out directly via email at jeffrey@onwardglobal.com. We thank Jeff for sharing his expertise with us, shedding light on strategies that can help businesses thrive in today’s challenging environment. Stay tuned for more episodes of the Asia Business Podcast, where we continue to bring insights from leaders who are shaping the future of business in Asia. Timestamps 00:00 Introduction and Guest Welcome 00:43 Jeff Goldstein's Journey in China 01:22 Current Trends in Supply Chain Management 02:57 China Plus One Strategy 03:59 Challenges and Opportunities in Diversifying Supply Chains 13:27 Quality Control and Assurance in Manufacturing 24:48 Customs Inspections and Transshipment Risks 25:40 Verification and Trust in Supplier Relationships 26:16 Challenges of Shifting Supply Chains to Southeast Asia 27:00 Impact of US-China Tariffs on Factories 30:14 Legal and Ethical Considerations in Supply Chain Management 31:28 Client Pain Points and Supply Chain Solutions 37:07 Cultural Differences in Factory Management 43:31 Podcast Wrap-Up and Contact Information ProducerJacob Thomas Follow UsLinkedIn Apple Podcasts
