With rapid global expansion in nearly every market segment, original equipment manufacturers (OEMs) face pressing demands to meet their customers where they are — and that means everywhere. But building a business across international borders can take resources and budget away from other strategic initiatives. Global delivery introduces complexities, including taxes, tariffs, local customs and languages, shipping carrier management, facility procurement and more. OEM leaders must carefully weigh the benefits of globalization and determine a smart strategy for expansion that meets customer needs without sacrificing delivery quality or drastically inflating budgets.
The complexity of globalization
Regardless of your globalization goals, preparation is critical to your international success. The first step in readying your business for global expansion is the analysis of your domestic business model. The aspects of your business that drive your top domestic achievements represent your best opportunities for international success. By studying your effectiveness in the following areas, you can find where your business excels and determine what areas may benefit from help through partnership:
- Global supply chain: How well can you meet the needs of your target markets and regions?
- Supply chain optimization: Does your supply chain have a well-distributed balance of speed, flexibility and cost?
- Cross-cultural considerations: Can your current staff communicate effectively across international lines?
- Global trade gaps: Is your business strategy flexible enough to handle a global trade process?
Get set for global success
Partnership is a key globalization strategy for many technology supplier businesses, especially when it comes to supply chain management. Global supply chain leaders often provide expertise that alleviates the need to create and train new positions, and they can help your business grow rapidly by:
- Expanding into a new market where the partner is already
- Optimizing processes in a region where you have an established customer base so that you can improve and increase your foothold cost-effectively.
- Simplifying the global business by allowing the partner to manage and maintain international customers while your teams focus on other strategic
Once you establish your goals for globalization, it’s important to define success. Whether it’s market penetration, improved customer satisfaction, product innovation or something specific to your business, it’s imperative to have full purview into what it takes to enter the global marketplace. With complete transparency and in-depth reporting, you can build a profitable and successful global business that expands both with and ahead of customer demands.
Are you ready to take your technology business global? Contact us to see how Tech Data Global Lifecycle Management can help.
About Tech Data Global Lifecycle Management
Global Lifecycle Management (GLM) is a provider of specialized solutions within Tech Data. GLM gives technology companies the freedom to focus on the road ahead by providing end-to-end customer and product lifecycle management services. Leveraging our team of experts, global logistics network and over 40 years’ experience, we design solutions to release precious capital from our customers’ businesses so they can focus on investing in their transformation journey. Start your journey at www.servicesbytechdata.com or follow us on LinkedIn.