Value Engineering: Five Keys to Cost-saving in Manufacturing
by Clark Neft, President, Barth Industries
When it comes to manufacturing at the lowest cost possible, the tried and true models of off-shoring and competitive bidding just aren’t cutting it anymore. Why? Because virtually everyone is doing the same thing. The same models to drive down costs are being applied with very little to show in terms of true competitive value.
Price, however, still matters in the end. So how do you compete on price, quality, and innovation? Value engineering through a partnership with a contract manufacturer (CM) offers a path.
Companies that design and sell everything from consumer products, to medical devices, to complex assembled components are gaining an edge by working in partnership with CMs to not only outsource their manufacturing, but to optimize that process and reduce costs every step of the way.
A true partnership needs to be more than just words on a page. Here are five ways to create a CM partnership that will work to reduce costs in the short and long term:
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