Part 1 – Why Outsourcing?
Very few pharmaceutical companies conduct all parts of discovery, development, and manufacturing in-house, and startups or small companies discover the majority of new medicines. New medical devices are frequently developed by individuals who form small companies to bring them to market. Contract service providers are commonly used by all these companies to advance their medical products. This month we’ll look at the rationale for outsourcing and some key points to consider in your decision.
Outsourcing is a robust part of modern medical product development. If your company is virtual, almost all of the work you do will be through service providers. Strategic outsourcing practices allow access to specialized services that can be expensive to establish and maintain as in-house departments. Service providers are often able to start up a new project quickly, reducing the time needed to produce data in a particular stage. A good relationship with a competent contract service provider is a cost-effective expansion to your project team.
Reach out to me if you want to know more or discuss your medical product development challenges.
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Text Copyright © 2020 Katrina Rogers
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