The struggles of automotive OEMs in Michigan have been well precedented. Now, to help weather the economic storm, business organizations in the region have begun to champion their transition to the more stable medical device industry.
Crain’s Detroit Business featured coverage of the 5th-annual MichBio Expo last week, specifically highlighting a panel discussion on how to diversify and better serve the medical device industry. In it, Jeff Kaczperski, president of injection molder Omega Plastics, offered a variety of tips for suppliers looking to get into the medtech marketplace.
According to the article, his advice included familiarizing oneself with the market, devising a concrete business strategy and specific steps for fostering growth, as well as preparing to respond to customers’ potential questions of loyalty should the auto industry bounce back in full force.