2020 Review Of Our Company- full of challenge and opportunities

Wgoodbye to 2020. A new year 2021 is just beginning. 2020 is a special year, full of challenging and opportunities to factories in China especially for us- bicycle accessories factory. COVID-19 epidemic outbreak has a profound impact on the manufacturing business. In 2020, a lot has happened and we’re going through this with our customers and our suppliers.

Looking back to 2020, we are pleased to be able to summarize 2020 and make plans for 2021.

Spring 2020 (January to March)

After COVID-19 outbreak, China is lockdown in an effort to control the novel coronavirus? Our bicycle tool factory was closed for more than 1 month. The working hours were adjusted from 5 days a week to 3 days a week. Workers wear masks at work and do everything they can to protect them.

At the same time, COVID-19 abroad is becoming more and more serious. Foreign customers procurement plummeted and some orders are suddenly canceled or postponed. Some customer orders have been completed but we cannot contact successfully. On the one hand, we actively contact customers by sending e-mail or call to ask about customer status. We also offer anti-epidemic items including mask and disinfectant to customers in Europe and USA. On the other hand, we rented a new warehouse to store the bike tools for customers.

Summer 2020 (April to June)

The exhibition was canceled and replaced with an online fair. The customer also canceled their business trip. But bike tool and bike accessories orders have gradually increased. Our workshop is busy with production. Compared with 2019, received orders increase by more than 50%. At the same time, the situation of the epidemic has improved, the workshop is fully operational. We put 3 new automatic working lines of bicycle accessories into production.

Autumn 2020 (July to September)

Orders continue to increase. The production leading time is delayed because our factory is always full of production capacity. Even though our workers are working in holidays. Production leading time is changed from 25 days to 40 days, and even 50 days. The situation gradually became serious. After epidemic outbreak, some workers did not come back to work after returning home for the Spring Festival. New workers need time for training to be skilled.

The foreign bicycle industry is booming, and foreign customers are demanding faster delivery than ever before. We have meetings with our customer and find better way to solve the problem.

Winter 2020 (October-December)

The state has restricted electricity usage to factories in Zhejiang. Some orders need to be delayed. We have to work one day and rest two days. Orders have been scheduled for April to June next year. At the same time, due to the shortage of materials and the price of raw materials rising by more than 20%.

For sea shipment, we are not able to book container to deliver products out because of container shortage. We keep finished bike tools in our warehouse.

For the 2021 plan:

At beginning of 2021, we have to adjust the price by 15% up. In order to serve our customers better, we have made corresponding adjustments to the service structure and product structure.

We pay more attention to the customer’s sales situation and build the customer’s confidence in the future. We also assist customers to make plans for future orders, and develop new products to make profit. Meanwhile, we rent bigger warehouse to store more products to help customers control inventory.

More information or inquiry, contact us freely : sale@groupzf.com