Turnkey vs Consignment

In the quest to remain agile and relevant in the business environment, companies are finding it essential to adopt disruptive technologies to stay flexible and competitive in business. Outsourcing the manufacturing of electromechanical and hydraulic products or sub-assemblies offers companies the ability to do so. However, a business confronts two challenges when deciding to outsource, choosing an outsourcing process and partner, and deciding whether to outsource. Turnkey and consignment manufacturing are two of the most common outsourcing practices. Let’s look at how small and mid-sized companies can compare and choose between the two outsourcing methodologies.