The Strategic Advantage of Outsourcing in a Down Economy – Part 2

Outsourcing is a powerful, strategic business tool that can reduce expenses, improve response times, and help develop products faster than onboarding and training in-house resources. Yet so many companies are still hesitant to pull the trigger.

In the first of this two-part series of Strategic Advantages to Outsourcing in a Down Economy, we discussed some of the common objections companies have when it comes to outsourcing modeling and simulation in a variety of industries. Now we shift our focus to the benefits of outsourcing.

Competition for resources has accelerated at an unprecedented pace, driving up costs and delaying projects in both our personal and professional lives. And, as we face a time of economic uncertainty, every business should consider outsourcing at least some of their projects as it is proven to solve several of today’s problems such as efficiency, access to labor, better technology, etc. and all this at less cost.

At TotalSim, we have designed our outsourcing model to be uniquely suited for today’s resource challenges, allowing you to bypass the expense, time investment and lack of resources associated with simulation projects, getting more done in less time with a lower cost.

Insource or outsource? That is the question

One of the most critical decisions when considering modeling and simulation is whether to insource or outsource. When making this decision, cost, timeline, and work quality are standard factors for consideration. But in today’s highly competitive, quickly changing business world, these factors are not enough. Often missed are several even more critical considerations:

  • Am I excluding my business from a valuable outside perspective?
  • How can I maximize this process for the best competitive advantage?
  • How can this decision best strengthen my weaknesses?
  • What internal obstacles exist?
  • Are quality resources available to hire? Will they stay?
  • How will this decision affect my ability to serve my clients’ varying needs?
  • If my client’s needs change will I be able to pivot if necessary?
  • How will the decision affect my future?
  • Should I outsource for a period and then bring the process in-house?
  • Am I prepared to manage quality control requirements?

When you outsource to an experienced company – you have immediate access to experts who do simulation every day. Creating your own modeling and simulation department can take years to reach this same level of expertise.  And committing to hiring and training your own team can be significant – a minimum of six months to bring on and train a new engineer or up to two years to build an entire team! If you already have a modeling and simulation department, supplementing a missing skill or a surge requirement through outsourcing takes only days.

We would not think of doing our own plumbing or fixing our own furnace without the knowledge and skills to do so. Calling in an expert is simply the smartest way to get things done. Outsourcing in business is just as acceptable. It allows companies to focus on core competencies and distribute assets more efficiently to save money.

Still not sold on outsourcing? Contact a Total Sim team member today so we can share how our scalable solutions have helped others increase speed-to-market and improve capacity.

Related Content

The Strategic Advantage of Outsourcing in a Down Economy – Part 1

In-house or Outsourced Simulation for Product Development

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