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20:40 Nov 19, 2008
English to Hungarian translations [PRO] Marketing - Business/Commerce (general) / International Marketing
English term or phrase:Contract manufacturing
~ enables the firm to have foreign sourcing (production) without making a final commitment. Management may lack resources or be unwilling to invest equity to establish and complete manufacturing and selling operations. Yet, contract manufacturing keeps the way open for implementing a long-term foreign development policy when the time is right. It enables the firm to develop and control RnD, marketing, distribution, sales and servicing of its products in international markets, while handing over responsibility for production to local firm.
Definition: Manufacturing is outsourced to an external partner, specialized in production and production technology.