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To Outsource, or Not to Outsource? Fact or fiction? Third-party manufacturing services can make supply chains more efficient. The answer varies from company to company and product to product, but many leadership teams will never know because they assume outsourcing is more expensive and overlook its strategic potential. Most companies use third-party manufacturers only to solve short-term capacity constraints. That's a missed opportunity. Best-in-class manufacturers are discovering that a thoughtful approach to outsourcing can help increase their competitive edge. In fact, buying a product instead of making it may prove more efficient once leadership teams add up all the costs of in-house production, many of which are hidden. One example is the added organizational complexity that comes with building and managing production lines as part of a broader network. Leaders also know that outsourcing can improve quality and reduce time to market. To get to the correct answer for each product, executive teams need to analyze all of these factors. More here Read TradeBriefs every day, for the top insights! Advertisers of the day Kellogg Executive Education: Kellogg's Senior Management Program | June 2019 | Enroll Now EMERITUS Institute of Management: Postgraduate Diploma in Innovation & Design Thinking program| Accepting Applications Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails. Get today's top stories here More Retail stories More Telecom stories More Finance stories More IT stories More Digital stories More HR stories More Logistics stories More Construction stories More Life stories Get today's top stories here

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