Jabil was recently honored by Frost & Sullivan with the 2009 Market Leadership of the Year Award in the global electronics manufacturing service (EMS) for the medical industry. The Frost & Sullivan Award for Market Leadership of the Year is presented each year to the company that has demonstrated excellence within its industry. The Award is based on numerous factors including the company’s business development, competitive strategy, and leadership within a particular Frost & Sullivan Industry Research Group. This company is perceived to exhibit outstanding management, high growth, and positive social and economic impact on local and national communities and customers. The award, presented to Jabil executives on Sep.15, 2009 cites the company’s many strengths that have enabled it to achieve a five-year compound annual growth rate of 56 percent from 2003 to 2008.
“The Award is in recognition of Jabil’s excellent effort at gaining market leadership position through consistent focus on enhancing customer service, comprehensive product and service portfolio, and sound business strategies,” said Lavanya Ram Mohan, senior research analyst, Frost & Sullivan. “The vital element in Jabil's rise to market leadership is its depth of knowledge and industry experience. In the current economic environment, OEMs are seeking EMS providers that they can rely upon to partner with them for the long haul. Jabil’s strong financial strength has been a key differentiator for its success.”
The vital element in Jabil's rise to market leadership is its depth of knowledge and industry experience. The company has successfully targeted its expertise and best practices from other verticals to garner faster penetration into the medical industry. The company has recorded a phenomenal five-year compound annual growth rate of 56.0 percent from 2003 to 2008 in the EMS medical market. Jabil’s astounding growth in the medical industry is a demonstration of its inherent capabilities that have allowed it to achieve the position of market leader despite tough economic conditions. In the current economic environment, OEMs are seeking EMS providers that they can rely upon to partner with them for the long haul. Jabil’s strong financial strength has been a key differentiator for its success. The recognition for Jabil also comes from its ability to continue to outgrow its competitors.
A major strength and factor aiding Jabil in its path to market leadership is its manufacturing capabilities. The company has 55 manufacturing site, nine of which are medical manufacturing certified for producing medical devices under ISO 9000 and ISO 13485 certifications. While these are the primary minimum requirements for manufacturing medical devices, some device classifications require FDA certifications and Jabil took proactive initiative to ensure that all nine of its medical manufacturing sites comply with the requirements of FDA good manufacturing standards. As a result, all sites are well equipped to clear FDA inspection at any point of time and can satisfy customer requirements of developing Class II or even Class III medical devices with quick turnaround times. This has contributed to Jabil’s brand recognition, thereby helping it attain increased market share.
The other factor that differentiates Jabil is its steadfast focus on maintaining a lean supply chain. Apart from implementing and maintaining uniform SAP and ERP systems, the company is also strongly focused on leveraging its own customer satisfaction metrics to its supplier network. This has helped it assure and maintain consistent quality and more importantly, carry lean inventory levels. The company's significant investment in maintaining uniform SAP, ERP, and IT platforms throughout its global locations has paid rich dividends in the form of improved flexibility, visibility, and response times as well as customer demand dynamics.
With its advanced manufacturing and marketing strategy, and a product/service portfolio that caters to the diverse needs of the medical industry, Jabil has been successful in increasing its service levels and cementing its market leadership position.
