Manufacturing is an ever-changing world, and part of my job is to help you understand the ins and outs of what we do. In my Contract Manufacturing 101 series, that's exactly what I try to do. This episode touches on how a contract manufacturer can help entrepreneurs and startups get their new product ideas manufactured.
Traditionally, entrepreneurs and startups have faced significant barriers, especially in the world of products. But that’s changing quickly. Rapid prototyping, 3D modeling and printing, internet sales, and social media marketing have opened up the world to entrepreneurs, making some of the initial product development stages easier.
One thing remains the same – once you get to manufacturing there are a lot of requirements that cost money and take up a lot of time. Over the years, many entrepreneurs and start-up companies have been able to tackle that successfully – raising the capital, spending the time, and generating the resources necessary to put together a manufacturing operation.
But there is another option, and that’s to work with a contract manufacturing firm. A great contract manufacturing firm will be able to understand your product and help with any redesigns that help make the product more manufacturable, taking cost out and often improving quality. They’re going to have the right equipment and technology to make sure that the product is made effectively and efficiently. At times, a contract manufacturing partner may even be able to help with your capital needs, helping to support the cost of building raw and finished goods inventory so that you can further support your end customers.
Additionally, in the world of manufacturing, compliance is key. A contract manufacturer will have the necessary certifications and be compliant with safety and environmental regulations applicable to your industry. And, last but not least, is the access to people. A contract manufacturing partner will have a good deal of people available to meet your capacity needs.
Keep in mind that a contract manufacturing company will likely want to understand what you’re doing and what market (or markets) your product is serving. You’ll want to bring that when you share your project with them, especially if they’re going to be gambling a bit on a new startup or product. They’re going to want to understand that you can be successful in your journey and help you out in any way they can.
If you think you might be in need of a contract manufacturing partner, but aren't sure where to start, our Prospective Supplier Evaluation Checklist might be a great place to start. Click the button below to get your copy so you can begin assessing and comparing partners today!