An original equipment manufacturer (OEM) is a company whose products are used as components in another company's product. The OEM will generally work closely with the company that sells the finished product and customize the designs based on the VAR’s needs. (value-added reseller)
An original design manufacturer (ODM) is a company that designs and manufactures a product as specified and eventually rebranded by another firm for sale. Such companies allow the brand firm to produce products without having to engage in the organization or running of a factory.