The global contract manufacturing market is set to hit nearly $80 billion by 2019. With this growth comes significant increase in risks to companies who outsource manufacturing, given the fact that any problems will ultimately damage the brand itself and not the contract manufacturer.
Closing this gap calls for effective Supplier Management tools, giving you the ability to:
• Use supplier ratings and scorecards to benchmark contract manufacturers, incorporating risk assessment to pinpoint the most likely source of future problems.
• Assign corrective actions to external parties, making it easier to track resolution of issues while placing the onus on suppliers to make improvements.
• Quickly trace the source of problems originating outside the company, linking them to other quality functions like customer complaints and nonconformities.
