The key to manageable business growth and increased profitability is to maintain healthy margins, but you might find that the amount you spend on manufacturing is throwing your profitability out of whack.
Depending on what you’re manufacturing, the types of materials you’re using, and the scale of your operation some manufacturing costs might be unavoidable, but there are several things that you can do to cut your costs overall. By putting some key tips into practice, you can design more affordable products without sacrificing product quality.
Cost-Saving Manufacturing Tips
- Consolidate parts: Modern injection molding technology makes it possible for manufacturers to produce highly sophisticated products and even consolidate individual products into a single mold. This can reduce the cost of manufacturing significantly, especially if you can consolidate more than two components into a single part.
- Use standardized parts: While there are many components that need to be manufactured to custom specifications, there are others that you can order standard. Using standard parts when possible allows you to save money on the cost of producing a custom module. Even replacing a couple of your components with standard parts can make a big difference in the amount that you spend on your manufacturing.
- Produce on-demand: If you’re making a part or component that’s particularly expensive to produce, you should consider on-demand production. With on-demand production, you only manufacture a part when you know that you will need it. This saves you money on overproduction and product waste.
- Optimize part design: By working closely with a knowledgeable engineer, you can find ways to optimize the design of your parts and minimize production waste. An engineer can help you with things like material selection, undercutting, mold cavity and product size that can all have an impact on how much you spend.
- Reconsider aesthetic features: Cosmetic features and aesthetic part design are important considerations for many injection molded products, but they aren’t always necessary, and they can be costly to include in part design. If you’re manufacturing a part that is likely to be hidden from view, you shouldn’t spend time perfecting aesthetic features. Instead, prioritize performance and efficiency so that you can maximize the cost to design and produce your part.
You can get professional help optimizing your injection molded products by working with the experienced team of engineers at KASO Plastics. We are dedicated to helping our clients develop products that meet all of their needs and specifications including high performance, efficiency, and low cost. You can find out more about all of the services that we provide by giving our team a call.