Finding the right contract manufacturing partner for your product can be much more difficult than you would think. On paper, the concept is simple: who can make this product for the lowest price, or, who can produce this product the quickest? Often, it is a mix of both of these things. The truth is that while cost and timeline are vital to success, there are some other attributes that you need to look for in order to see the best return possible.
When you are evaluating vendors as potential partners, there are certain areas that you should invest additional time into asking questions about or researching. The right partner for you will not only be able to get your products out on your schedule and budget, but will also have your best interests in mind the whole time, as well as offering up their expertise to ensure you execute a fundamentally sound and efficient product.
Here are 4 things to look for in a contract manufacturing partner:
1) Years in Business
While it would be short-sighted to suggest that the only viable companies you should work with are family-owned businesses who have been around for decades, it is worth noting that companies that have been around for many years typically have a proven track record for you to look into. These manufacturers may have dozens of case studies on how they worked with companies like yours, and may even be regarded as an industry expert in their field.
If a company is brand new the contract manufacturing space, they won't have as many happy clients to reference or experiences to draw from. Each project that a CM takes on is actually a new opportunity to optimize their processes and learn from any downfalls in the past - making a mature company an ideal partner.
2) Presence of Senior Staff
Just like before, there is nothing wrong with working with a team of junior or younger manufacturers and engineers. In fact, the key to success in contract manufacturing is identifying young talent and developing it. However, by surrounding yourself with a group of experienced, senior manufacturers, you'll discover a slew of benefits.
For example, partnering with a CM who has senior staff on your account ensures that you are best prepared for any error or issue that comes up. In short, senior manufacturers have often "seen it all" and are well-equipped to handle any unexpected events, and, ensure your requirements are followed properly.
3) Clean and Organized Plant
Most product development managers or marketing directors don't always consider appearance and order when selecting a partner. A successful vendor invests in its facilities in an effort to be clean and well organized. This is an indicator of a business’s sense of order and attention to detail that will also be required for successful projects.
A clean environment is often a good indicator of proper rules and regulations being in place, worker safety laws being observed, and an overall commitment to quality on the manufacturer's side.
4) Your IP is Protected
If you are in the RFP stage of your vendor selection, it is vital to have a discussion about your IP. When selecting an engineering or manufacturing partner, the issue of intellectual property – yours and theirs – must be addressed. Before embarking on a partnership, it’s imperative to inventory all your intellectual property and ensure that there are standards in place to regulate your vendors’ access, disclosure, and use of materials both during and after the project is completed. Not having these standards in place can jeopardize your company and your customers’ trust.
The right CM partner for your company will be able to clearly address any IP concerns you may have. If they don't, or won't, invest your time in looking for a partner who has your company in mind.
For more information on how to select the right partner for you, you can download our free whitepaper below.
