When outsourcing these key functions, asking the right questions will help minimize the risk.
Although many device companies are seeking cost savings when seeking sourcing products or components manufactured in Asia, quality should not be compromised. Intense due diligence is important.
Managing suppliers is critical, and your processes in doing so must be documented.
Cost savings and the ability to meet high-volume demands are enticing benefits.
Following these strategies will change how your company works with its outsourcing partners.
In product development, the earliest conceptual time period might be the most important.
As medical device companies move technology concepts into the commercialization stage, collaborating with outside partners is crucial.
Assessing the Manufacturing Readiness Level of your new product can help identify risks and opportunities to cut time to market.
Using a checklist to find the best outsourced partner to develop your medical device can help reduce errors, increase safety and ultimately improve performance outcomes.
In order to compete globally, companies must be proactive in their business plans and anticipate the challenges they may face, concur three med-tech executives.