a manufacturer is an organization that performs manufacturing and/or purchasing needed to produce a product or device not for itself but as a service to another firm.

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08-09-2022
Business

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a manufacturer is an organization that performs manufacturing and/or purchasing needed to produce a product or device not for itself but as a service to another firm.

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Tutorconsortium216 Tutorconsortium216 · Answer 1 · 2022-09-13T19:23:59+02:00

Contract manufacturer is a manufacturer is an organization that performs manufacturing and/or purchasing needed to produce a product or device not for itself but as a service to another firm.

What is meant by Contract manufacturer ?

A contract manufacturer (CM) is a third-party producer of parts or goods on behalf of a business. Outsourcing is what this is. Typically, a corporation may present a CM with a design or product and request a quote for manufacturing it based on factors such manufacturing procedures, labor costs, tooling prices, and material costs. Utilizing a CM may offer a variety of advantages, including cost savings, superior quality, easy access to skilled labor, and economies of scale. However, there may also be dangers, such as a lack of control, a reduction in responsiveness and adaptability, and a reduced capacity for quality control.

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