This article was written by Carl Savage, Vice President of Business Management for MICRO
Contract manufacturers have an increasingly critical role in medical device manufacturing. For original equipment manufacturers (OEMs) that choose to outsource manufacturing operations, a successful contract manufacturing organization (CMO) partnership can help ensure that a new product will reach the market sooner, achieve financial success, and deliver high-quality innovation to end users.
Working in close collaboration with clients, CMOs can play a pivotal role in helping OEMs meet market needs and overcome development and manufacturing challenges. A successful partnership should always be a win-win for both the customer and its CMO partner.
Every development program, even projects that do not achieve or sustain market success over the long haul, can offer lessons about how to conduct business more effectively and efficiently in both the short and long term. A CMO’s business operations might undergo a transformation as a result of the lessons learned from a development program, so every project has something to teach, from those that exceed market expectations to those that fall short of their initial goals and sales targets.