Syncroness study confirms trend of outsourcing new product development
Irvine, CA - March 15, 2007 Through a poll of 5,000 engineering executives, Syncroness, Inc. has determined top factors which drive outsourcing of new product development (NPD) activity. According to the study, 83% of respondents had outsourced some or all of NPD activity, confirming that outsourcing of core product development is extremely important in todays market.
Executives cited the goal of increasing available resources as the primary reason for tapping external resources. This observation is consistent with Syncroness experiences as a provider of product development and underscores the fact that many organizations that possess the ability for new product development also lack the array of resources that are necessary to accomplish their goals. Other cited factors that lead to outsourcing of NPD include the desires to increase productivity, expertise and speed to market as well as a way to reduce employment costs.
The perceived loss of control of an outsourced project was cited as a main reason why executives have not utilized outside resources, along with concerns about internal displacement of jobs; security surrounding intellectual property; or provider learning curve.
There is a perception that outsourcing NPD means a loss of control. Actually, our experience is that most companies have greater control over the performance of an external firm than they do over internal resources, said Jorg Lorscheider, Syncroness chief marketing executive. This is because product development firms are usually bound by cost and budget which highly motivates them to accomplish the work. Internal resources typically are not as dependable or motivated in this respect.
About Syncroness, Inc.
Since 1975 Syncroness, Inc. has become a leader in strategic, outsourced engineering for new product innovation. Based in Westminster, CO with an additional office in Irvine, CA, the privately-held firm has contributed to numerous patents by providing creative mechanical and electrical engineering solutions to major US and international corporations and the US government. Syncroness developed successful products in medical, aerospace, consumer and industrial markets. With over 40 full-time engineering staff, Syncroness assists customers of all sizes in meeting their business objectives through rapid and innovative product development.
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