India has emerged as a global hub for Original Equipment Manufacturers (OEM) and Original Design Manufacturers (ODM), driven by a unique combination of skilled labor, competitive costs, and an expanding market. In this dynamic landscape, CMSGP (Connected Manufacturing Solutions for the Global Partnership) plays a pivotal role in enhancing the capabilities and competitiveness of OEM and ODM manufacturers across the country.
Understanding OEM and ODM
OEM (Original Equipment Manufacturer)
These firms often work under contractual agreements, producing goods that adhere to the specifications of the buying company, allowing brands to leverage existing manufacturing capabilities without incurring the overhead of in-house production.
ODM (Original Design Manufacturer)
ODMs, on the other hand, take on a more comprehensive role by not only manufacturing products but also designing them. They provide a complete package to brands, allowing businesses to enter markets quickly with minimal investment in product development. This is particularly appealing for companies looking to introduce innovative products without the resources to develop them independently.