Contract manufacturing facilitates companies to outsource the manufacturing process to another manufacturer who is well equipped to handle it effectively.
The right contract manufacturer can provide insight and guidance to optimize the organization's product design for manufacturing, end-user satisfaction, and sometimes even keep assembly projects on track.
Contract Manufacturing is a business model in which a firm hires another firm to produce components, assemblies, or the final products
Strategic Sourcing boosts the performance of an organization by aligning business goals and requirements with the suppliers.
Organizations need to adopt efficient strategic sourcing skills and processes to maximize business performance.
Strategic sourcing is the process that identifies the spending profile of a business and its suppliers.
Vendor Performance Analysis is an extensive process. It requires businesses to have a well-established plan ensuring all the essential parameters.
By performing Vendor Performance Analysis periodically, companies can realize some significant benefits.
Vendor Performance Analysis ensures that a supplier’s performance meets the expectations defined in the service-level agreement and is as per the market standards.
Suppliers’ evaluation takes place on several Key Performance Indicators.
