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5 Reasons Your Physical Product Development Is Stuck And How To Get It Unstuck
Over the past 18 years since the founding of Inertia, we’ve had a lot of...
With almost 20 years of on-the-ground experience managing contract manufacturers (CM’s) locally and overseas for our clients, we’d like to share our system for how we source, evaluate, and manage our contract manufacturing partners.
There are a lot of things to consider when choosing a contract manufacturing service, especially if this is your first time working with one. We recently highlighted nine pitfalls startups should avoid when selecting contract manufacturers – but we have a lot more to share.
Here’s a quick list of things you should consider when approaching contract manufacturers:
This post will focus on the first item on our list – making a good first impression. In the coming weeks, we’ll share insights on each of the aspects listed above.
Giving a product manufacturer insight into your company, product, market, and long-term vision will help them determine best how to service and support you.
The best relationships are partnerships which are based on openness and transparency, so it’s best to provide a complete picture of your company and product.
In many cases, you may be entering information in an online form, which may ask some essential questions. In other cases, the form may have a blank section for comments, or will offer the opportunity to send an introductory email. The following points can help you ensure you cover the essentials.
Important Items to Share with a New Potential Contract Manufacturer:
It’s always a good idea to prepare before meeting with a contract manufacturer. Let them know that you’ll be sharing this information ahead of time.
This really is the tip of the iceberg when considering outsourcing to a manufacturer. The challenge many start-ups face is that they don’t have a track record or a sizable first order out of the gates. This is why it’s important to demonstrate your professionalism in other ways – starting with what we outlined above.
Choosing the right contract manufacturer can be a make-or-break moment in your product development journey. It’s a time consuming and extremely detail-oriented process that at times require herculean efforts and the patience of a saint.
The start-ups and SME’s we work with often prefer to hand over aspects of the sourcing, selection and management of the contract manufacturing process to our team of manufacturing specialists – so they can focus on growing their business through sales and marketing.
Regardless of how much or how little you want to tackle on your own, it’s important to consider the opportunity cost of the time and effort required to manage your own manufacturing program – including delays you could experience in getting your product to market and getting your business to revenue.
If you are looking for help with sourcing the right contract manufacturer, or you need to improve your current manufacturing program, don’t hesitate to reach out to our manufacturing specialists here.
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