3 Ways To Mitigate Risk When Partnering with a Supplier
An Executive Summary
New product development is a continually evolving challenge. You must develop a design that can solve the problem while also innovating and keeping up with emerging technologies, materials, and manufacturing methods. And every time you try something new, you’re taking a risk. You can reduce that risk, however, even when innovating.
In this executive summary, you’ll learn about risk-reducing solutions, such as:
- Reducing the number of suppliers you’re working with
- Carefully selecting the supplier based on seven key characteristics
- Partnering with your supplier throughout the design and prototyping stages