Product firms around the world are on the forefront when we talk of outsourcing, development and maintenance work to competent partners regardless of time, domain and geographic barriers. If we think about trans-national firms or native OEMs in any country, most of them have contributed to outsourcing in some way or the other. Seldom is development done in-house utterly and usually an outsourcing model – either offshore, near shore or onshore, ends up being utilized. The magnitude of outsourcing might vary depending on the sort of labor or nature of the product or lifecycle stage/generation of the product itself.
Some of the key reasons for outsourcing are found to be the following:
• lack of capability and select talent
• Cost economics
• Increase focus on core competency
• Risk transfer and flexibility
In this era of fast globalization, many manufacturing companies from the developed world have outsourced product development in India, owing to availability of pool of resources and specific technology (both low end and high end) at lower cost.
Some of the key reasons for outsourcing are found to be the following:
• lack of capability and select talent
• Cost economics
• Increase focus on core competency
• Risk transfer and flexibility
In this era of fast globalization, many manufacturing companies from the developed world have outsourced product development in India, owing to availability of pool of resources and specific technology (both low end and high end) at lower cost.
