Addressing Market Challenges: Are You Leveraging Your Contract Manufacturer’s Expertise?
The imbalance between supply
and demand continues to challenge medical device manufacturers. Rising costs,
materials constraints and logistics delays have become “givens” in today’s
manufacturing environment. In the outsourcing realm, contract manufacturers are
being tested as never before. However, there is one major difference. Most
OEMs’ business models revolve around product innovation and an ability to
dominate their market niches. Conversely, the contract manufacturing business
model revolves around manufacturing expertise and ability to rapidly transform
customer orders to delivered products. As a result, there is greater incentive
in the contract manufacturing model to find ways to mitigate current
challenges. Contract manufacturers who are vertically integrated and expert at
addressing logistics challenges may fare better than companies dependent on a broader
supply chain to produce and deliver a finished product. Contract manufacturers
with a focus on continuous improvement may be better positioned to offset
higher costs or increases in shipping lead-time with improvements that shorten
manufacturing cycle time.
Forefront Medical Technology,
a specialty contract manufacturer with a focus in disposable diagnostic, drug
delivery systems and medical device systems, feels there are four areas where a
contract manufacturer’s capabilities may be able to improve outcomes in the
current market:- Product
launch
- Vertical
integration
- Continuous
improvement
- Logistics
management.
This whitepaper looks at each
of these areas and discusses ways Forefront’s team applies their expertise.
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China: Business Development & Technical Sales Office
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