JULY 13, 2016
The dietary supplement industry is a highly marketable and profitable industry. There are hundreds of different supplement companies that are competing to be on top. Just like any business, making the right decisions can make or break your brand before you know it. Deciding the type of product, the brand name, marketing, and business plan of your business is just the beginning, but, if not,the most important aspect in becoming successful. Establishing a strong foundation in the supplement industry gets tougher and tougher every day but will help you tremendously in the long run. The face of your brand is what attracts customers to pick it up off the shelf and buy it! Managing the business side of a company is a lot of work and is one of the main factors in becoming profitable. On the other hand, so is the manufacturing and overall quality of your product. The cost to set up a manufacturing operation that is compliant with current Good Manufacturing Practices (cGMPs) is quite expensive.
There are several reasons partnering with a manufacturer would be beneficial to brand owners and distributaries,
It can provide substantial cost savings since the manufacturer will provide already established production equipment, laboratory services and skilled, well-trained employees. Unlike a distributor, Manufacturers have established contracts with raw material suppliers, employees are well trained in all parts of production, from manual labor in the assembly line and compounding, to operating and understanding sophisticated laboratory equipment. Deciding to outsource the manufacturing operations of your brand forms a complex synergy where the manufacturer can be dedicated to formulation, manufacturing and a high quality end product. A good manufacturer allows you to start with an idea, and will work to develop that idea into a brand new finished product with absolute confidentiality. Many supplement companies have concerns about product safety, quality and supply chain integrity and have reconsidered their manufacturing and product development strategies. The manufacturing process has become more sophisticated in terms of testing for quality and new specifications to manufacture products. In today’s complex marketplace, contract manufacturers can help companies manage the manufacturing and packaging process while focusing on other business priorities and controlling costs. Contract manufacturers have valuable expertise given the various products they manufacture, helping new supplement companies avoid development costs for new formulations.
Here at Innovative Formulations we formulate, run tests to ensure identity, strength, purity, composition on all products and ingredients, source materials and packaging, and test the finished good, all under CGMP standards.
The closer the partnership between manufacturer and brand customer, the better chances the product has of success, as well as compliance and quality. We really strive on creating a strong relationship with each client to ensure every aspect of their product is the highest quality product in the industry. Manufacturers with in-house labs have knowledge and capabilities to teach and educate the distributor about cGMPs, FDA regulations, and other important information that is needed to ensure a high quality product. With more and more requirements for cGMPs and testing, contract manufacturers are growing their knowledge and experience. A trustworthy manufacturer provides world-class quality management system and practice, solid infrastructure and continuous improvement required to implement current standards efficiently and effectively. When these components are an ingrained part of the manufacturing process, products go out to market safely, quickly and cost-effectively.
Contract Manufacturers can help your company meet high expectations with high quality products.