Check out the article in the May issue of Medical Design magazine on Kaysun’s work with a leading medical device manufacturer, “Lean effort yields single platform for eight devices.” Here’s an excerpt: “Kaysun leveraged its plastic part design expertise to produce ‘manufacturing-ready’ drawings and models for every part, with the company’s engineers working alongside the client team to analyze and test each new design for functionality and manufacturability. The production of eight different patient monitoring devices were consolidated onto a single platform of case backs, fronts and attachments shared by three product families.”
What is the impact of globalization on small or mid-sized manufacturing firm without a global footprint? It will be deadly for firms that compete on price and outdated business models. The only way companies like Kaysun will survive and thrive are by providing a customer solution that cannot be easily replicated by cheap labor and equipment. Peter Drucker liked to use the term “knowledge workers” and I believe that description applies very well to the workforce of firms that will prosper in the 21st century. Our world is getting smaller by the day and Fortune 500 companies are focusing their time and energy on understanding emerging markets and setting up supply bases local to those regions. The global markets will continue to exploit weak players that cannot differentiate their products from those offeredby lower cost competitors. This is an exciting time for small and mid-sized firms that are up to the challenge of reinventing themselves as knowledge-based organizations with unique customer solutions. The firms that rely solely on customer loyalty to grow or even maintain their businesses will be left in the dust.