SIERRA CABLES
Navigating export markets and beyond
Q: How has your organisation positioned itself to expand to export markets? A: Sierra Cables has strategically shifted its focus to the export market with the primary aim of generating dollar revenue.
This strategic shift comes in response to the financial and forex crises the country experienced in 2020, where the devaluation of the Sri Lankan Rupee and high import costs posed significant challenges. To counteract these effects, Sierra Cables accelerated its export efforts, thereby minimising the impact of currency fluctuations and import expenses.
With a rich history of exporting to regions such as Asia, Africa, Oceania and East Europe, the organisation recently expanded its reach to include the North American market. This expansion signifies a strategic shift to tapping into new markets and potentially boosting revenue streams.
Q: There are many emerging markets in which the demand for Sri Lankan exports is on the rise. How is your organisation tapping into these opportunities – and where are they?
A: Sierra Cables is expanding its horizons by prioritising the development of products to meet international standards, thus positioning it for success in global markets.
We understand the significance of adhering to country specific standards to ensure that our cables fulfil the unique requirements of each region.
Our dedication to the continuous improvement of our product range underscores a commitment to becoming the most trusted cable manufacturer both locally and globally. To achieve this, we engage in extensive research and development activities, often collaborating with foreign partners.
Furthermore, our unwavering focus on producing cables of the highest quality, informed by a deep understanding of industry requirements and trends, reflects our commitment to reliability and performance excellence.
Through strategic joint ventures in Fiji and upcoming operations in Zambia, we are strengthening our presence and capabilities in these regions. Additionally, we’re actively exploring opportunities in the African market for HDPE and uPVC pipes, with the aim of establishing a dominant position in Zambia and neighbouring countries.
By deploying dedicated sales representatives in emerging markets such as the Maldives, we are proactively managing sales and projects, fostering stronger customer relationships and delivering tailored solutions.
Q: Is there scope to engage with Sri Lankans working overseas to promote exports from Sri Lanka – and if so, how should our exporters leverage such opportunities?
A: We can gain valuable insights from Sri Lankans residing overseas, and there is also potential for collaboration with them to establish distribution networks and penetrate new markets effectively.
Sri Lankans overseas can serve as invaluable brand promoters, generating sales leads and facilitating market expansion.
Sierra Cables utilised such partnerships to establish a presence in the Fiji islands, Kenya and Zambia. To further leverage these opportunities, we aim to offer incentives and discounts to Sri Lankans overseas who promote our products.
Moreover, we envision creating platforms for information exchange and collaboration, such as online forums and networking events, to
foster mutually beneficial relationships between exporters and the Sri Lankan diaspora.
Sierra Cables is committed to upholding the highest standards of quality in manufacturing electrical cables
Q: In the context of quality, how do products that carry the ‘Made in Sri Lanka’ tag compare with the competition?
A: Sierra Cables is committed to upholding the highest standards of quality in manufacturing electrical cables, recognising the critical significance of these products.
Ensuring consistent excellence isn’t merely a matter of regulatory compliance; it is fundamental to safeguarding consumer safety and trust.
In the fiercely competitive arena of international markets where we contend with industry giants, adherence to stringent quality control measures becomes imperative. It is through constant dedication to innovation, advanced technologies and rigorous quality assurance practices that we distinguish ourselves.
By prioritising quality at every stage of production, we aim not only to meet but exceed the exacting demands of our international clientele, reinforcing the reputation of ‘Made in Sri Lanka’ on a global scale.
Q: Finally, what innovations or strategies is Sierra Cables employing to stay ahead in the export market?
A: We conduct thorough market research to identify market opportunities while maintaining high quality standards to build trust and credibility with customers. We also comply with international quality standards, regulations and certifications relevant to export markets.
It’s also important to streamline supply chain operations to improve efficiency, reduce costs and enhance agility. Investing in creating a strong brand presence and effective marketing campaigns tailored to each target market is imperative.
We’re also forming strategic partnerships and collaborations with local distributors, agents and other businesses in target export markets, while leveraging their market knowledge, networks and resources to penetrate new markets more effectively.
Cultivating a skilled and adaptable workforce capable of driving innovation, adapting to market changes and managing international operations is as important. And it is crucial to provide training and development opportunities to enhance employee capabilities.