Medical devices and life science instruments contain highly specialized, custom-built mechanical components that make use of a variety of technologies. The custom-fabricated plastics, sheet metal, machined parts, fluidics, optics, radio frequency (RF), and electro-mechanical sub-systems used are infinitely more complex than off-the-shelf components. Supply chain management for these products presents unique challenges that simply don’t exist for technology products that mainly use off-the-shelf components. Even when common components are used, they still face common supply chain concerns such as delivery and volume fluctuations.
Off-the-Shelf Electrical and Mechanical Components
For commodity components, a successful supply chain strategy starts with thorough planning and research. Paramit uses sophisticated software that analyzes component demand, time on market, and other factors to predict which parts are likely to reach end-of-life, allowing the supply chain team to address this risk early on.
Paramit only purchases authorized electronic parts direct from manufacturers or through authorized franchised resellers — we don’t use gray market brokers or non-franchised resellers. This approach ensures part quality and gives us direct access to the manufacturers’ technical support when challenges occur. Our key component suppliers maintain full time, on-site materials program managers to assist us with quotations, schedule fluctuations, dual source/end-of-life recommendations, and escalations.
Custom-Fabricated Mechanical Components
Our success is based on two fundamental strategies: (1) invest in top-notch engineering resources and equip them with the tools they need to resolve the most complex manufacturing issues and (2) partner with the best suppliers by establishing a preferred mechanical supplier program that qualifies, evaluates, and constantly monitors suppliers. We work closely with these suppliers to address critical client issues.
Paramit uses a multi-faceted set of criteria to evaluate a mechanical supplier’s capabilities, expertise, and business acumen. We evaluate their processing technologies, materials science knowledge, quality systems and history, and Design for Manufacturability (DFM) expertise, and bandwidth. We also choose solutions-oriented suppliers who will partner with us and our clients starting in the design phase.
Conflict Minerals Policy
As a global company, Paramit is committed to sourcing components and materials from companies that share our values around human rights, ethics and environmental responsibilities. We require all our suppliers comply with requirements noted within our Supplier Code of Conduct Policy and Supplier Agreement.