CIMdata PLM Industry Summary Online Archive

15 June 2004

Company News

think3's Joe Costello to Make the Case for Outsourcing at Smart Manufacturing 2004

Joe Costello, chairman and CEO of think3 ( http://www.think3.com/ ) will present Tuesday, June 15, 2004, at IndustryWeek's Smart Manufacturing Conference, an event attended by more than 200 senior manufacturing executives, in Orlando, Florida.

In his presentation, "Design Outsourcing-Good or Bad?," Costello will point to trends in economics, education, politics, language, communication and technical advancements that are changing the world of manufacturing. Companies adapting well to this new environment, according to Costello, are focused on leading through product innovation, truly understanding customer needs, and leveraging every asset in the world to deliver products efficiently and at a low cost. This, Costello maintains, creates pressure and opportunity for small to mid-sized manufacturers.

"With every passing day, outsourcing and offshoring become less of an option and more of an imperative for manufacturers competing globally, whatever their size," said Costello. "Fortune 500 companies have been outsourcing for decades and now smaller companies are including outsourcing as a part of their business strategy. It is important for mid-size manufacturers to know where outsourcing has been and what the future is; is outsourcing inevitable and why have some outsourcing strategies failed."

Drawing on examples of think3's 25 years of experience working with mid- size manufacturers including Universe Corporation, Pernoud and Matisa, Costello will outline the primary factors that companies need to consider when determining if design outsourcing should be a part of their balanced business strategy.

"Based on what I've seen in the PLM industry, I didn't think I could find a solution that would help Universe Corporation increase market share and optimize the product development process," said Michael Latta Jr., President and CEO of Universe Corporation. "think3 has helped us achieve dramatic gains in competitiveness and profitability."

 

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