Changes in industry or your business may cause you to reevaluate your current operation, so looking at the pricing of your contract manufacturer (CM) is a logical step. Keep in mind, however, that while jumping to a new CM may seem like it can give you some immediate initial savings, it can also lead to some significant losses if you’re not careful.
There are a number of potential issues that you should be prepared for. Here’s a brief list of items you should consider when scoping out that new CM:
So now you may be wondering what steps you can take to help ensure success:
Overwhelmed? We don’t blame you!
Maybe you’re just looking for a cost savings from your current CM. Here are a few tips:
Ultimately, you’ll need to decide if it’s in your better interest to switch to a new CM or stay with your current manufacturer. Changing it up will mean a much larger time investment, but, if you prepare properly, it could also mean increased financial savings!
Whichever method you choose, we’d love to put our years of experience to service, ensuring your transition is as smooth as possible.
About Jim Laurin
In his quest to make sense of the universe, Jim began his journey as an electrical engineer, quickly advancing into electronics and systems sourcing for a major Fortune 250 company. Now, as a sales engineer for Avnet Electronics, Jim pulls on over a decade and a half of experience working with and supporting dozens of Fortune 250-500 companies - giving them new ideas, assisting them with streamlining their sourcing and commodity management, and generally helping engineering and procurement groups ‘hug it out’ and play nice.