Engineering Services Outsourcing for More Value-Optimized Solutions
With an estimated $ 750 billion worth of value addition per year, engineering services is one of the largest sections of the industrial world. Almost all core engineering functions have an accompanying service activity, the scope of which changes from industry to industry. Estimates show that the engineering services industry is close to a trillion dollars in size.
Engineering services comprise of a number of design and support services for various industries namely Automotive ,Telecom, Aerospace, Consumer electronics,Semiconductor,and Pharmaceuticals verticals. Through engineering services, enterprises gain support across the complete product life cycle from design and modeling through analysis, prototyping, automation, data documentation, instrumentation and controls, embedded systems development, manufacturing support and vendor management.
Today a great portion of engineering services is outsourced and the reasons for which are pretty much the same namely
* Focus on Core Activities
Outsourcing engineering services help enterprises to focus on their core activities.
Since the outsourcing partners take care of support activities, enterprises are free to focus on running their businesses.
* Cost Factor
Cost is one of the key drivers for outsourcing. Engineering services outsourcing leads to reduced costs due to reduction in project timelines and lower labor costs.
* Ability to get Better Quality
Getting the support of a qualified and domain-focused vendor can help to achieve better quality.
The engineering services arena is witnessing more outsourcing thanks to its immense benefits such as
* Flexibility on manpower
* Faster time to market
* Reduced product development costs
* Knowledge retention
* Move to a variable cost model
* Manage resources at cheaper costs
* Enhance profitability
* Transform company into a global force
* Ease cost and margin pressures
* Faster turnaround times
Enterprises looking to produce innovative and technologically advanced engineering products require expertise, precision, and rigor that meet the specifications and often exceed the expectations of their most demanding customers. By collaborating with companies that have created a niche in the engineering services outsourcing space, enterprises gain from better, faster, and more value-optimized solutions. Besides that, they can also realize reduced product development costs, shortened lead times, extended capacity, and maximized engineering resources availability.
Related Links: manufacturing services
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