Choosing the right Contract Manufacturer is integral to business success, whether taking a strategic outsourcing approach, or a tactical one. In this episode of Wired Success, Mark Cessar talks with Liberty’s Director of Business Development, Scott Anderson about how the right Contract Manufacturer can benefit your business, and how that can depend on whether the business takes a strategic approach or a tactical approach to outsourcing the work.
The Bill of Material is a critical component of the planning process in manufacturing for any industry. In this episode of Wired Success, Mark Cessar talks with Liberty's Programs Director, Troy West about what moving up the Bill of Materials is and how this approach to procurement can benefit OEMs in terms of ease of installation, capacity, costs, and inventory reduction.
In this episode of Wired Success, Sales Engineer, Mark Cessar, talks with George Allman, Liberty Electronics' Manufacturing Engineering Supervisor to ask some questions about how OEMs can benefit from collaborating with suppliers during the design phase of a project. During their discussion, George shares what suppliers can bring to the table and the overall value this offers OEMs.
The Bill of Material is a critical component of the planning process in manufacturing for any industry. This comprehensive list of components and equipment required to manufacture a product can fluctuate depending on cost, availability, and capacity. For original equipment manufacturers (OEMs), outsourcing a level up the Bill of Materials might prove to be beneficial.
Industry predictions indicate that manufacturing will grow faster than the general economy*. Growth in areas such as global aircraft manufacturing is projected to spike from the less than 4% rise seen from 2013-2017 to nearly 9.5% from 2017 until 2021. These high manufacturing expectations are bound to cause an increase in production needs for OEMs. But how do you best scale up production without falling victim to overspending on inventory or finding yourself unable to fill orders due to long lead-times and or lack of capacity?
With the news of backlogs at record highs this year, industry OEMs and suppliers are looking for ways to ramp up production to meet demand. Meeting these needs can become challenging when fulfillment issues arise. According to forecast experts like Deloitte, manufacturers in 2019 should be focused on strengthening their supply chains, more effectively managing projects, and leveraging advanced technology to increase efficiency. As OEMs and suppliers both contemplate ways to meet demand, here are a few things all procurement professionals should look for in suppliers to prevent fulfillment pitfalls.