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While many companies outsource to cut costs, it was revealed in a recent Investors Business Daily article that outsourcing “should be considered a strategic tool as it allows companies focus on their core competencies” – sales, marketing, product development, etc. Further, outsourcing gives companies access to skilled labour and outside professionals not normally available within the company. Here are some examples of ways outsourcing can help your company:
- Outsourcing is a way to boost revenue
- Outsourcing is a way to cut costs
- Outsourcing eases labour shortages
- Outsourcing cuts payroll costs
- Outsourcing allows companies to focus on core competencies
- Outsourcing reduces or eliminates some capital expenditures
- Outsourcing also allows businesses to change their corporate culture. If companies have renegade groups that are costly, ineffective, or difficult to manage, that group can be outsourced. This enables employers to change their workplace environment on-the-fly.
When deciding to outsource, the real test is whether outsourcing adds value. Does it really reduce costs? Is the investment in in-house training and machinery too great? Does outsourcing a service give you access to people with greater skill sets or companies with more resources available to them?
At QPharm we believe that by outsourcing some or all of your packaging operations, you will generate considerable savings in the following:
- Capital investment in equipment
- Cost of GMP Facility
- Establishment License costs (Health Canada Certification)
- Recruiting and training production employees
- Q.A. and Production management team cost
- Access to over 30 years in the Pharmaceutical and Health Industry
- Allows you focus on your business strengths
Simply put, outsourcing is an efficient use you recourses and should be explored if your company is looking to focus on the things it does best.
*Source: www.packaging.com
