Beyond Cost: Why Value is the True Measure in Medical Manufacturing
In high-precision medical manufacturing, the expectation of quality is understood. In fact, high quality is often taken for granted, even as the variables of expediency and economy are pushed to the limit. Prioritizing cost savings and shorter lead times above all else can lead to all manner of inconsistencies as you cycle through vendors and suppliers in a constant search for the lowest possible price. Meanwhile, you are failing to build relationships with qualified partners whose pricing and performance you can trust. Over time, those relationships have an inherent value that is far greater than any savings you might realize in the short term from some discount supplier. “Price is what you pay. Value is what you get.” –Warren Buffet […]