Changing landscape of Outsourced Product Development

Category: Computers & Electronics

The origin of outsourced product development (OPD) can be traced back to early 1990s when organizations adopted the practice of hiring third party vendors for development of products and services primarily to cut costs of in-house development. However, along the years, organizations have come to adopt OPD for multiple other reasons such as quicker time-to-market or access to external expertise that is not available in-house. OPD, as a business model, has gained acceptance as an extended development option for product companies asit represents a relatively low-risk, high benefit opportunity.