Outsourcing for Start-ups: Lean Business Models that Work
FOR IMMEDIATE RELEASE/May 20, 2003
Contact: WPI Venture Forum, +1-508-831-5075
Tuesday, June 10, 2003, 6-9 p.m.
WPI, Campus Center Odeum
WORCESTER, MA (May 20, 2003) - Emerging business models of the 21st century call for hiring only the staff needed to conduct the company's core business. Partners, contractors, consultants and other service providers are used to perform non-core functions. To compete successfully, business leaders must understand which of the organization's functions should remain internal and which should be performed externally. On Tuesday, June 10, the WPI Venture Forum will feature Marjorie Kamp, an industry executive specializing in supply chain and operations management. She will discuss the steps large firms use to successfully outsource and the transferable principles and practices for start-ups: implementation steps, continual management of performance, what to do if things go wrong, and how to leverage as a company grows.
Following Ms Kamp, the evening's case study will be Aspect Medical Systems, a pioneer and global market leader in brain monitoring. The company has led the way in developing proprietary technologies that directly measure the effects of drugs on the brain and ultimately improve the quality and cost effectiveness of patient care.
The WPI Venture Forum meeting will be held on Tuesday, June 10, 2003, at the Odeum Campus Center on the WPI campus in Worcester, MA. Registration begins at 6:00 p.m. and the meeting begins at 6:30 p.m. Registration cost is $10 individual, annual, and lifetime members; and $20 nonmembers.
About the Speakers
Marjorie Kamp, is a consultant specializing in supply chain and operations management. Her experience includes managing a $300 million external resource budget at Digital Equipment Corporation (DEC), running a $200 million contract manufacturing business at Bay Networks, and serving as the Director of Productivity and Director of Strategic Alliances at Raytheon. She brings a wealth of knowledge from both sides of the outsourcing equation.
John Coolidge, VP of Manufacturing, and Marc Davidson, VP of Engineering, will co-present Aspect Medical System's changing organizational strategies as they evolved from a three-person start-up with $0 sales to an established company with more than 200 employees and $40 million in annual sales. They will discuss two areas in which Aspect uses outsourcing: manufacturing and research and development (R&D). In the early stages, Aspect outsourced all of its disposable sensor manufacturing and raw materials, i.e., PCBAs, for its electronic hardware. Through R&D, Aspect has built a strong foundation around unique technologies in its core competencies and outsources any and all functions that are more readily available.
About the WPI Venture Forum
The WPI Venture Forum was created in 1990 to promote the entrepreneurial spirit and to serve those who engage in technology- based entrepreneurial enterprises by providing advice, support and education tailored to meet their needs. The forum fosters entrepreneurship through such activities as monthly programs, a business plan contest, a weekly radio show on News Radio WTAG (Saturdays, 5-7 pm, 580am), and a monthly newsletter.
The Venture Forum, as part of the Collaborative for Entrepreneurship & Innovation in the Department of Management at WPI, serves individuals who are seeking to begin their own technology-based businesses; founders, presidents, and senior managers of start-up or early-stage companies; senior managers of companies that are restarting or making a transition for one mode of operation to another; and employees leaving large companies due to a reduction in force or to start businesses.