Contract manufacturing can best be defined as ________.
A) the outsourcing to independent suppliers of business service functions such as accounting, payroll, human resource functions, travel services, IT services, customer service, or technical support
B) the relocation of a business process or entire manufacturing facility to a foreign country
C) sourcing from the firm's own production facilities
D) an arrangement in which the focal firm contracts with an independent supplier to manufacture products according to well-defined specifications

Question

Quizplus · Accepted Answer

Contract manufacturing involves a company hiring another company to produce goods on its behalf, typically to specific standards and specifications. This allows the hiring company to focus on other aspects of its business, such as design, branding, or sales, while leveraging the manufacturing capabilities of the contractor.

Contract Manufacturing Can Best Be Defined as ________