Low-Cost versus Innovation. Can you outsource design innovation? Yes.

Design and particularly innovation is expensive. In 2016, a typical industrial designed product costs minimum $250K to launch. Can this be minimized? Yes.

Low-Cost versus Innovation – Contrasting Outsourcing and Integration Strategies in Manufacturing is a great breakdown on two outsourcing strategies; low-cost-oriented outsourcing and innovation-oriented outsourcing. Pro’s and cons are discussed and empirical evidence evaluated at a number of firms. An excellent breakdown!