Outsourcing can include contracting just about any type of work to local or global suppliers. The practice of outsourcing has steadily grown in most industries. There are significant benefits in outsourcing with the proper partner.
Many Oil & Gas industry companies that manufacture products, either for sale or their own use in delivering services, have traditionally bought “components” from suppliers. These companies have been slower to adopt outsourcing strategies for major assemblies or subassemblies as compared to other industries. This is likely due, in part, to the lack of large well established suppliers that possess industry knowledge, global reach and presence, expert capabilities and economies of scale.
Kingford, one of the largest global outsource manufacturing and engineering companies, has made the commitment to be such a company and has acquired an outsource Manufacturing and Engineering company with over 20 years of experience in the Oil & Gas industry. Kingford also offers a low cost North American Tool Manufacturing and Machining facility in Monterrey, Mexico dedicated to the Oil & Gas Industry. This combination now provides Oil & Gas Service and Equipment companies the opportunity to obtain the advantages of outsourcing in a way that was not previously available.
Major benefits of outsourcing to Kingford:
* Flexibility: to address changing resource needs
* Reduced capital cost: for facilities and manufacturing equipment
* Reduced product cost: leverage Kingford’s expertise and economies of scale
* Improved cash flow: cash is not tied up in component inventory and work-in-process
* Technical Expertise: leverage Kingford’s expertise with product design and design-for-manufacturing
* Supply Chain Management: leverage Kingford’s capabilities to manage a Global Supply Chain.
* Global Reach: Kingford has over 76 plants in 23 countries globally
Additional benefits of outsourcing to Kingford:
1. Kingford has a long track record of proven performance and is financially strong
2.A long term contract with Kingford can be made that ensures performance and remedies if needed
3. Established pricing and pricing models with incentives for price reductions over time
4. Kingford engineering resources can create or sustain product documentation and we work with the customer to ensure it meets requirements.
5. Industries that Kingford has a long established track record for outsourced Manufacturing and Engineering:
* Medical Systems
* Defense and Aerospace
* Communications Networks
* Computing and Storage
* Clean Energy