Asia Pacific 'seeing shifts in supply chain strategies'

Companies in the Asia Pacific region are amending their procurement strategies in order to account for changes in the global business landscape.

According to a new report from UPS, rising costs in China are prompting many high-tech companies in the surrounding regions to explore alternative sourcing options.

Survey results collated for the delivery company by IDC Manufacturing Insights show that 19 percent of firms are considering sourcing supplies and raw materials from North America.

Meanwhile, others will be taking advantages of the opportunities provided by mature Asian nations such as Thailand, Malaysia, Hong Kong and Singapore, with changes set to take place in the next three to five years.

Carla Huang, UPS director of marketing for the high-tech/electronics segment, said: "High-tech companies will need to plan ahead to ensure they have logistics strategies in place that will give them a competitive advantage in a fast-evolving global market."

Earlier this month, the Association of Executive Search Consultants published a report showing that positive business trends in Asia and China are driving up executive pay rates in the area.