Product development is a mission-critical process. And it can also be very expensive. But thanks to modern computer-aided design (CAD), computer-aided engineering (CAE), computer-aided manufacturing (CAM), and product lifecycle management (PLM) systems, many manufacturing companies now have the tools that allow better alignment of cost and value-add. This is what’s referred to as “global product development.” Learn more.
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functions, however, may be good candidates for offshoring. Given the complexity, initial startup costs, and ongoing management challenges associated with managing a captive offshore facility, many companies choose to develop their offshore capacity via an outsourcing partner. In addition, labor rates will also vary with the outsourcing and offshoring strategy deployed. Using typical US labor rates as a baseline, an in-house onshore engineer would cost $40-$60/hour fully loaded with compensation, benefits