One of the most important decisions a high-growth technology company faces in its early stages is whether to manufacture components and the final product using its own resources (make) or to outsource the manufacturing process to another company (buy).
As companies grow and evolve it is statistically inevitable that supply partners will come and go. There are many reasons why a company may want and/or need to transition supply partners such as supplier financial instability, poor quality performance, and production supply disruption.
When considering where to build your supply base, source components, and source finished products, the prevailing idea seems to be that domestic sourcing allows for better quality control and shorter time to market, while international sourcing is cheaper. Both of these facts can be true, which can make it difficult deciding when to choose one over the other and these oversimplifications may lead to poor strategic decisions.
With the ability to print in a variety of complex shapes and materials in significant volumes, 3D printers expand the horizons for several industries.
As the global supply chain landscape changes, new opportunities will arise. It will be essential for high growth technology companies to have the necessary infrastructure to take advantage of to these rapidly expanding markets.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.