Regardless of your product, the cost of it is more than likely always on your mind. But have you ever determined how to reduce costs without impacting the quality of your final product and altering what your customers have come to expect and rely on?
Below are three easy ways to help you do a full cost analysis on your product.
1. Blanket Orders
Do you order parts as they are needed, or place blanket orders with multiple delivers? Having a blanket order prevents you from holding greater than necessary inventory, avoid any administrative burden of placing multiple purchase orders, and receive lower piece prices due to economies of scale.
2. Part Design Reviews
Any non-standard or unconventional features add timing to make the part. The increase in cycle time for any features that are not necessary may be increasing your part cost. With every project we quote, we review your part to ensure that it is properly designed to meet your needs. We review items such as part radii, optimal wall thickness, undercuts, and draft analysis to ensure that the part is properly designed for the intended manufacturing method.
3. Material Analysis
Products can usually be manufactured utilizing a variety of different materials, depending on your requirements, and the manufacturing techniques. Technology is constantly improving materials, and creating new ones. Be sure the recognize all factors involved with your product when choosing a material. Be sure to know if it needs any certain requirements (e.x. RoHS compliant, FDA approved, medical grade, etc.).
We understand that reviewing costs is important and should be a continuous effort. Through our value analysis and value engineering, we can help you find the proper production techniques that let you reduce costs without sacrificing part performance or appearance.