How Does a Medical Device Contract Manufacturer Vet an Opportunity?
Posted by Bob Evans on Tue, Nov 22, 2011 @ 02:39 PM
Have you ever thought about how a medical device manufacturer would vet a business opportunity?
Vetting a business opportunity is a critical first step in building a relationship between an OEM and a Supplier.
In the October issue of MPO, a feature article written by Jim Stommen entitled "Let the Vetting Begin" offers insight to the early interactions of an OEM and a supplier as they both evaluate the business partnering relationship. This topic was also discussed recently at the 4th Annual MPO Symposium during the "Building the Bridge Between OEM Design and Outsourced Manufacturing" panel session.
Ron Jellison, Executive Director of Business Development for KMC Systems was one of the panelists that offered insight to the vetting process used at KMC Systems, Inc.
"When evaluating a large OEM business opportunity we look at the types of products in their portfolio, the competition in their industry, their product sales/distribution channel, and the alignment of our quality system to theirs. For a start-up company, having confidence with the management team and their technical, financial and schedule objectives is an essential foundation for a successful business partnering relationship. " stated Jellison.
"Determining the state of the product design is a critical element in understanding what services a CM should offer to provide a smooth transition to manufacturing. A thorough review of the drawing/documentation package is a minimum requirement," advised Jellison.
Jellison commented further that it is not uncommon for a customer to think that they are closer to production then they really are. Because KMC Systems offers both product development and manufacturing services and have transitioned many products from both external and internal development teams, we have the expertise and experience to accurately assess where a product is in the Total Product Life Cycle. This allows us to offer only the needed services for a product design transition to manufacturing project.
Watch the video captured at the MPO Symposium to learn more about the CM perspective of vetting a business opportunity as the first step to a successful OEM - Supplier relationship.
