Outsourcing is no stranger to controversy. Ever since Russell Kelly Office Services paved the way for onshore outsourcing in 1946, onshore and offshore outsourcing have had their fair share of critics. It used to be an issue of exploitation of cheap labor for personal business gains. Then companies themselves became disgruntled with the outsourcing model because of their unrealistic expectations of cost savings and ROI which failed to meet any of their expectations.
Problems with vendors and poor communication channels were also just some of the hurdles companies and suppliers had to deal with. But given all the cynicism, outsourcing has continued to gain in momentum, proving to skeptics that with a comprehensive strategy in place, outsourcing is a real force to be reckoned with for sheer business proficiency.
Medical device companies are a prime example of how outsourcing almost every phase of their product development to the right contract manufacturer, can give them the edge in a very highly competitive sector. It is this almost perfect marriage of specialized knowledge and expertise shared between an OEM and the contract manufacturer that determines the...
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