November 11, 2022

Factory Audits = Better Suppliers = Better Quality Products. Real Data Analysis! (Feat. Prof. Neale O’Connor FCPA)

In this episode...

Sofeast's CEO Renaud has an interesting guest on this episode: Prof. Neale O’Connor who is a China business and accounting expert and international keynote speaker!

Neale examined lots of Sofeast factory audit, product inspection, and manufacturing project data to determine the relationship between factory audits and good-quality products. He also checked thousands of complaints about Asia-wide suppliers from Global Sources data to work out if there were actions that importers could take to mitigate the chances of being scammed.

In this episode, you'll hear some very insightful results from his research that can help you source and work with better suppliers, reduce your risks, and avoid scammers!

 

Show Sections

00:00 - Greetings, introducing the topic, and our guest, Neale.

02:10 - Why Neale examined hundreds of our factory audits performed pre-covid to find the main patterns.

06:05 -Why product inspections/audits are different?

08:47 - What is the data saying about the incidents of pass/fail/hold aspects in product inspections?

14:11 - What did the data tell us about factory audits?

19:21 - How to reduce the number of factory audits you need to do if you only plan to work with one supplier?

21:23 - What does the data tell us about complex products?

23:47 - The takeaway from the Sofeast data analysis.

24:48 - Four key ways to avoid being scammed by Asian suppliers.

35:14 - Summary and wrapping up.

 

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