Your purchased machined parts greatly affect the profitability of your business. No matter how efficient your manufacturing process, if you are paying too much for your machined parts, or you are constantly dealing with problems related to your purchased machined parts, your bottom line will be hurt. The best way to make sure your machined parts are enhancing the profitability of your products is to carefully consider your protocol for purchasing industrial machined parts and look for areas of improvement. Consider these areas:
- Allow yourself as much time as possible to find the right machined parts supplier. Even if you are not currently experiencing problems with your supplier, spend some time researching other prospective suppliers. Waiting until you are down to the wire means making a decision under pressure and this does not typically work to your advantage.
- Choose a machined parts supplier that has a proven track record and is financially stable. When you buy precision machined parts from any company, you are not only buying a product, you are establishing a relationship you need to depend on to keep your business going. Find a supplier you can count on.
- Make sure that your machined parts supplier is a good fit for your specific parts needs. You need a machine shop that can supply your parts, but you don’t need to pay for specialty capabilities that you don’t require. If the shop demands a premium price to offset the cost of services you will never use, find someone else.
- Provide the precision machining supplier with samples of your parts. Supply your machined parts source with as much information as they need to deliver your parts to your exact specification to avoid costly errors.
- Plan for your volume needs as well as possible fluctuations in demand. If your parts requirements are not consistent, make sure your supplier understands that. Confirm that they are able to meet demand and also adjust for decreased volume orders.
- Consider what floor space you have available for parts stock. If you do not have the space to store your precision machined parts, look for a supplier that can deliver just what you need, when you need it.
- Calculate what your machined parts costs should be to keep you profitable. An experienced and capable machined parts provider will be able to assist you in evaluating your parts needs and budget, so that you can meet your profit goals.
Think of precision machined parts supplier as your partner in productivity, who works with you to not only supply your parts, but supply them in a way that maximizes your profits and efficiency.
