Although the medtech industry is expected to enjoy steady growth, device companies are still challenged to attract the skilled labor that manufacturing requires.
With May 26, 2020 quickly approaching, every day counts.
The challenges will continue to keep medtech manufacturers and other stakeholders in the healthcare industry on their toes.
When outsourcing these key functions, asking the right questions will help minimize the risk.
Although many device companies are seeking cost savings when seeking sourcing products or components manufactured in Asia, quality should not be compromised. Intense due diligence is important.
Managing suppliers is critical, and your processes in doing so must be documented.
Cost savings and the ability to meet high-volume demands are enticing benefits.
Following these strategies will change how your company works with its outsourcing partners.
In product development, the earliest conceptual time period might be the most important.
As medical device companies move technology concepts into the commercialization stage, collaborating with outside partners is crucial.