China mold industry has been rapidly developing and contributing greatly to the total export volume of China. In recent years, with the acquisition of experience, advanced technology, as well as the recruitment of skilled professionals from abroad, mold design and manufacturing in China has improved so much. Besides, the growth of manufacturing industries as automotive, electronics... promotes the development of China mold industry, helps it meet the high technical standard of the customer from countries like Japan,USA or European countries.

However, as any other industry, China mold industry will face a difficult period in its development process. During the past economic crisis period, not only automotive manufacturing industry, but other industries also faced many difficulties, this badly affected the mold industry, but everything got better as the economy improved.

In spite of that, in recent years, labor cost in China is rising and also affects the development of this industry. According to some recent statistics, the cost of mold manufactured in some countries like USA or Mexico not much higher than the one in China. Despite not losing its advantages, this is still a challenge for the Chinese mold manufacturers. So what they need to do to overcome this challenge?

This is a question that the manufacturers need to ask themselves if they want to continue to grow.

1.       Focus on enhancing manufacturing capacity as well as innovate the technology. Manufacturing capacity and technology will affect not only the productivity but also the quality of the product. The improvement will help manufacturers save the cost more and get the better price for final products.

2. Manage cost sources better. Selecting and managing suppliers effectively are very important, because those will impact significantly on the cost of the product. Cost management here does not mean to select inferior quality suppliers to save more, but to control purchases, improve quality control process of commodities, and especially use imported steel for the core components.

3. Improve the management ability of the enterprise. A business which is managed effectively and smoothly will bring huge benefits, especially in manufacturing. With effective management, businesses will not waste manpower and money. Thereby they can achieve higher labor productivity, which costs less money.

4. Raise the level of mold design. The design has always been an important part in manufacturing, and with a high-level design, the manufacturing is not only easier but also more economic with the highest quality.

5. Improve communication with customers. To avoid unnecessary problems, which most likely will affect the manufacturing, communication with customers should be efficient and minimize misunderstandings. By which, we can avoid wasting time and other expenses.

6. Establish a better customer service system. A good system will always bring a clear effectiveness, and good customer service will bring concrete benefits for both manufacturers and customers. For example, following up customer feedback promptly after exporting and communicating with them frequently can help us solve problems timely.

The world is always changing, and the economy is too. To grow, every business always needs to improve itself and one which has a good potential is even facing difficulties from the external will still be able to quickly overcome and will easily embrace new opportunities.

The good news is that the Chinese government recently made devaluation in order to boost Chinese economy which will make a great impact on exports, and of course it will also directly affect China mold industry. Mould manufactured in China will have a better competitive edge in price, regain its inherent advantages.