Standing Firm in the Market with a “S3C” Concept
CHANGSHU 5.RICH HARDWARE specializes in high-strength bolts, nylon lock nuts, threads, wing bolts, nuts, and screws. General Manager Mr. Feng Jian Ming expressed, “The company went through ups and downs. Although it gains little profits, it can make a firm stand in the market.” It also adopts the S3C concept, or Quality Control, Cost Control, and Service Control, to provide the best products and service to clients.
Faced with the competitive fastener market, Mr. Feng said, “A positive and growing business means retaining stable growth even in an extremely competitive environment.” He further mentioned that members of the company must have a sense of calmness to help build up corporate advantages. Besides retaining fundamental profits, one must keep product quality and premium service in his mind to earn a share in an extreme environment.
From Concentration on One Market to Multiple Markets
Reviewing China’s fastener market in the last decade, Mr. Feng indicated, “The boom of China’s fasteners in the last decade is already the past, as the production cost continues to escalate.” The high cost lies in two aspects. One is the material cost, namely, the cost of stainless steel, which is somewhat higher than those in other nations. The other is the increasing labor cost. China is losing its low-cost advantage once prevailing in the past.
Since 2009, the EU launched anti-dumping measures against China. Mr. Feng said, “The measures stroke enormous impacts on China’s fastener industry.” Accordingly, since February 2009 CHANGSHU 5.RICH HARDWARE turned its main target from the European market to other ones. “Fortunately, our efforts in the past were not a waste of time. We have headed from the concentration on a single market towards a focus on multiple markets.” he continued, “Currently the company’s clients are from America, the Middle East, Africa, Japan, and Korea.”
Mr. Feng concludes with his perspective of being a successful trader: “Nothing more than fair trade and a comprehensive range of service can firmly win the hearts of clients.”