Apple once contracted a company to supply them with sapphire glass, but that contractor filed for bankruptcy shortly after and failed to uphold the contract. Assessing your contractor's capability is vital. Factors such as production technologies, equipment, and scalability features shouldn’t be overlooked. Manufacturers with state-of-the-art tech and the ability to scale are priceless assets. Prior history of manufacturing similar products is also a plus point.
The contract partner must have stable financials to ensure your FMCG brand's long-term success. The prospective partners' potential to upgrade and invest in future technologies should also be analyzed on the side. Background checks for additional miscellaneous criteria for an extra layer of security can also be carried out.
Unilever and Coca-Cola partner with manufacturers with advanced manufacturing capabilities and are financially sound. These parameters ensure they can meet the demands of their respective products in the markets. They consider manufacturers' monetary well-being and reputation to provide a robust and reliable partnership.
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