While an innovative, market differentiating approach is critical to achieving competitive advantage and dominant market share, it isn’t the only critical element in new product development. Market timing, quality and cost are also in the mix. The question becomes: “what is the right strategy to achieve optimal results in each these elements?” Outsourcing in a lower cost region can address part of the equation, but the tradeoff may be sacrifices in market timing or quality.
Forefront Medical Technology, a specialty contract manufacturer with a focus in disposable diagnostic, drug delivery systems and medical device systems, has found that Singapore offers an optimum new product development solution for many of its clients. The city-state’s strong medical technology hub, business-friendly policies, experienced workforce, qualified supply chain and logistics advantages provide an environment where innovation, schedule adherence, quality and cost competitiveness can occur simultaneously. This whitepaper looks at the advantages that can be achieved by combining Forefront’s expertise in product commercialization with Singapore’s robust infrastructure for medical product development.
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Forefront Medical Technology, a specialty contract manufacturer with a focus in disposable diagnostic, drug delivery systems and medical device systems, has found that Singapore offers an optimum new product development solution for many of its clients. The city-state’s strong medical technology hub, business-friendly policies, experienced workforce, qualified supply chain and logistics advantages provide an environment where innovation, schedule adherence, quality and cost competitiveness can occur simultaneously. This whitepaper looks at the advantages that can be achieved by combining Forefront’s expertise in product commercialization with Singapore’s robust infrastructure for medical product development.
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