The right contract manufacturer can help your business grow and expand into new markets. A CM acts as your partner, providing a number of services designed to compliment your business and improve customer satisfaction with your brand. Unfortunately, many people go into this partnership with unrealistic expectations. This is due in part to the large number of myths about working with a contract manufacturer. We have listed the top three myths and why you shouldn’t believe what you hear. This is important if you want a successful relationship with your CM.
Always Go With the Lowest Quote
While you might think that selecting the contract manufacturer with the lowest cost per unit is the obvious choice, this isn’t always the case. It’s important to find a contract manufacturer that provides consistent, quality results. They should employ a team of professionals able to create a wide range of products for a variety of industries. This is important if you wish to expand into new markets in the future.
It’s also important to note that the price per unit only captures about 70-80% of the cost of production. Several CMs will add various fees and charges to the final number. Select a contract manufacturer that is up front about the total cost of production. This can save you a considerable amount of trouble later.
Never Work With a Contract Manufacturer That Builds for Your Competition
It’s important that OEMs find the most capable and compatible contract manufacturer to work with. Often times, this will be the same CM their competition uses.
R&D Can Handle Production
Managing manufacturing and the supply chain requires the skill and experience of professionals. Although companies often try to include manufacturing under development, this usually doesn’t pan out well. Companies that attempt to handle everything in-house without the management tools and experience needed rarely succeed.
Means Engineering provides contract manufacturing services for businesses both large and small. Our services include design, production, and testing of a wide range of products. We employ a team of skilled professionals, each experts in their field. Please contact us if you would like more information about our services.