For many people, small equals less. But when it comes to choosing a supplier or manufacturer for medical device components, small could actually mean more: more speed, a more personalised service, and more savings.
In fact, there are a wealth of benefits to working with a small business. Partnering with an SME could mean bypassing the increasing lead times the industry is facing and getting your product to market faster. And in an industry as competitive as medical devices, the ability to produce prototypes and end products at speed can make the world of difference to your bottom line.
But collaborating with a small business is likely to offer advantages at every step of the manufacturing process, not just the end goal. According to Bob Boldig, president of leading medical wire manufacturer Custom Wire Technology, modest firms can deliver increased flexibility, improved customer service, and on-tap expertise, while larger competitors are often weighed down by hierarchies and bureaucracy.
“At Custom Wire Technology, we have taken our core competencies and expanded them out to become more vertically integrated, while at the same time, paying attention to what our customers want. We realise that everybody’s project is important to them and we work to ensure that no matter the size of our customer, they have as much priority as our largest client.
“You don’t necessarily find that if you’re dealing with a bigger manufacturer. A lot of our competitors are unable to provide that personal touch purely because of their size. With us, there is no ivory tower, we provide a personal approach to everything we do.
“There’s a person here answering the phone to help with whatever a customer may need, so you’re not met with an automated voice message system or talking to a receptionist, you’re going straight to the people that know how to solve your problem. If a customer sends in an enquiry, we are able to respond with technical expertise within the same day, and that just doesn’t happen with the larger companies.”
After all, business is about people, and small businesses have the ability to get to know each client well in order to provide the one-on-one, personalised experience that clients value. Plus, the people who choose to start or join a small business are often motivated by their passion and drive in the field, which they continue to hone to the customer’s benefit.
Flexibility on the fly
For big-name companies, approvals and internal processes can often take a long time. Small businesses have flexibility on their side, with fewer hoops to jump through and less people involved. Most large corporations simply aren’t structured to provide this agility.
According to Boldig: “As a small business, we can change our schedule on the fly within minutes of a customer needing something. Either myself or any one of the team can switch gears almost immediately if something needs to be corrected or if a customer’s in a pinch.
“Because it’s a small organisation, we’re like a family. A lot of the time, if somebody’s looking for something to be manufactured, we can go to the people that are actually making it and ask them if they’ll put in the extra time and effort to get it done. That’s the way our workforce responds to an urgent request, and that just doesn’t happen in in bigger bureaucratic organisations.
The result of this combination of expertise and customer service? Loyalty.
“I am still doing business with the company that was the very first sale I ever made over 20 years ago,” explains Boldig. “The team that was involved with that company all left and went on to start at least one other company, and in some instances multiple companies, and we’re doing business with all of them, too.
“Once they understand what we do and the things we can provide, our customers are very loyal and stick with us”
To find out more about Custom Wire Technology, visit www.customwiretech.com or download the white paper below.