ODM stands for Original Design Manufacturer, which creates products based on its own designs and specifications. These companies develop the entire product, including its design, and then sell it to other businesses that may brand it under their own name. This allows companies to offer unique products without investing in design and development. OEM, or Original Equipment Manufacturer, produces products based on the designs provided by another company. In this case, the OEM focuses on manufacturing the product according to the specifications set by the client, who then sells it under their brand. This model is common in industries like electronics and automotive.