If it's a commonly used item, it would be much more efficient to pay an entry level CAD guy to draw up a parametric screw part. Add in toolsolids of all the subtracts that the component will do (taps, CBore, clearance), and supplier call outs. It starts to become efficient.
For like a $.5 part from McMaster? Are you on drugs?
McMaster is "expensive" but it isn't like they are charging a crazy amount of money. They are just expensive.
I still use them over randos tho bc I know I'm going to get what I ordered. I never did not, but if I did, I'd have the correct part maybe even same day.
The cost of the part doesn't matter. The cost of my time does.
For common components, I need a parametric part so that I can instantly change the length, size or type. If my M12 becomes an M16, I want all the taps and C'Bores to adjust without any further input from myself.
For more expensive parts, it's nice to have a homegrown parametric part to minimize potential missorders.
In my experience, the overhead of what you suggest is significant. Leading and instructing an employee or subcontractor, dealing with learning curves, etc. It sounds nice, but the logic in the GP comment is sound (i.e. that spending 2x or 3x the price for what you get can be worth it in most cases).
Tried that, management still insisted I get all of it from Fastenal, great pricing and they have an online catalogue, but ffs it takes a week to get stuff in.
Drawing up a component is quick, sure. Measuring and specifying is not as quick and easy, and you won't necessarily have appropriate metrology equipment or trained personnel on site.
A fair price for an electrical resistor is roughly $0.02 - $0.08, depending on what you are ordering. Buying it from McMaster will probably cost you $0.12 - $0.50.
Not every component is this trivially inexpensive, but we are working in a price range where it's very much worth paying the high McMaster prices. Let them hire the entry level CAD guy and spread the cost across many more prototypes than your company will make.
When you refine the product for mass production, then it is worth shaving pennies.
