We have come a long way since the days of sole access to local markets for trading goods. The modern economy is a global one, with suppliers and buyers engaging in commerce on a worldwide scale.
From the materials used to build the electronic devices we rely on to the clothing we wear every day, global trade has never been more important.
While the rise of globalization has presented us with many benefits, it has also brought about new potential problems for both producers and their customers.
In many instances, domestically sourcing products such as metal tags can mitigate the risk of participating in the global marketplace.
Reasons to Insource
Loss of Control
One of the main concerns for any organization conducting business internationally is the potential loss of control. This can take the form of quality issues, delays, supplier issues, and more.
When you are dealing with some international suppliers, they may not always follow the same level of standards which you would expect from a domestic producer.
While sourcing metal tags or metal tag engraving services from an international supplier might be cheaper, there is a reason for that reduction in cost. It comes at the sacrifice of quality, as well as the assurance your parts will arrive on time.
A major benefit to domestic tag sourcing is the distance from your supplier.
With less distance for your parts to travel, lead times typically see a major reduction versus international shipping. This can lead to significant savings as shipping heavy boxes of metal nameplates overseas can be extremely costly.
In many cases you have the ability to travel to the supplier to meet with them directly if necessary. This can help build a long lasting relationship.
A major risk to sourcing products globally is the unpredictable impact geopolitical issues will have on your supply chain. Currency fluctuations can dramatically affect pricing.
Embargoes, and tariffs can add significant lead time as well as cost. For example, a tariff on metal material can turn a low-cost nameplate into an expensive proposition. Sourcing domestically helps to negate this risk.
Additionally, a global pandemic such as COVID-19 can completely shut down your organization’s ability to receive product.
During times when only essential businesses are open, sourcing domestically means you will still have the ability to receive your metal identification tags.
Customers often prefer locally or domestically sourced goods and materials. This can be very advantageous from a marketing perspective if your company sources their supplies domestically.
Asserting your brand as “made in America” is a simple but effective method for building customer trust. In many cases, an American produced product is seen as higher quality than one sourced internationally.
This can also be used as a reason for justifying a higher price point for your goods or service.
If metal nameplates are a component of the product you sell, making sure they align with this made in America branding is only attainable via insourcing.
Sourcing your metal tags and other manufactured products domestically is beneficial to your organization and the national economy as a whole.
In addition, having direct access to your supplier means you will have higher control over quality, lead times, and supplier continuity.
By reducing your overall risk, you help protect your company from delays, quality issues, and other potential problems.
At Metal Marker, we produce metal identification solutions right here in the USA. We are proud to partner with you to provide a reliable and high quality domestic source for your identification needs.