Rajneesh Kumar’s Post

After 20 years in the metal fabrication industry, I've seen firsthand how purchasing departments struggle to balance quality and cost. The pressure to keep budgets in check while ensuring that quality standards are met is a common challenge—especially when it comes to sourcing custom or precision metal components. For heavy machinery OEMs, the challenges are even more pronounced: - Limited Supplier Pool: Sourcing specialized components often means relying on a few suppliers, limiting bargaining power and leading to higher prices and supply disruptions. - Quality Control Concerns: Opting for lower-cost options can result in quality issues, leading to increased costs and impacting customer relationships. - Hidden Costs of Cutting Corners: Choosing cheaper materials or vendors may seem cost-effective initially but can lead to delays, defects, and maintenance issues, eroding savings over time. To address these challenges, consider: - Qualifying Multiple Vendors: Diversify suppliers to enhance flexibility. - Strategic Partnerships: Cultivate long-term relationships with suppliers to ensure quality and proactive problem-solving. - Investing in Quality Control Processes: Implement stringent processes to maintain standards and prevent costly issues. Successful teams find creative solutions to the quality-cost trade-off. What strategies have you implemented? Share your experiences in the comments—let's discuss!

𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐟𝐨𝐫 𝐓𝐨𝐩-𝐐𝐮𝐚𝐥𝐢𝐭𝐲 𝐕𝐞𝐧𝐝𝐨𝐫𝐬 𝐟𝐨𝐫 𝐘𝐨𝐮𝐫 𝐍𝐞𝐱𝐭 𝐏𝐫𝐨𝐣𝐞𝐜𝐭? Worry no more! 🛠️ At GetYourVendor, we simplify the process of connecting buyers with reliable vendors for custom manufacturing. Whether it’s precision machining, heavy casting, or large-scale stamping projects, we’ve got you covered! ✨ Capabilities We Cover: 𝑴𝒂𝒄𝒉𝒊𝒏𝒊𝒏𝒈, 𝑭𝒐𝒓𝒈𝒊𝒏𝒈, 𝑪𝒂𝒔𝒕𝒊𝒏𝒈, 𝑨𝒔𝒔𝒆𝒎𝒃𝒍𝒚, 𝑺𝑷𝑴/𝑴𝒂𝒄𝒉𝒊𝒏𝒊𝒏𝒈, 𝑭𝒂𝒃𝒓𝒊𝒄𝒂𝒕𝒊𝒐𝒏, 𝑷𝒓𝒆𝒔𝒔𝒊𝒏𝒈, 𝒐𝒓 𝑩𝒆𝒂𝒓𝒊𝒏𝒈𝒔 – and many more! ✅ ✨ Why Choose GetYourVendor? Verified Vendors: Trusted and experienced suppliers for every need. Seamless Process: Post RFQs and get quotes with just a few clicks. Diverse Capabilities: From prototypes to large-volume orders, we have you covered. 💼 𝐂𝐚𝐥𝐥𝐢𝐧𝐠 𝐀𝐥𝐥 𝐁𝐮𝐲𝐞𝐫𝐬! Still waiting for high-value business opportunities to knock on your door? 🚪🔑 This is the opportunity you’ve been looking for. Get started now! 📧 Share your project details, and let’s find the perfect match. 📥 Drop an email at lokendra@getyourvendor.com. Let’s build partnerships that drive success! 🚀 #Manufacturing #CustomSolutions #GetYourVendor #PrecisionMachining #HeavyCasting #VendorDevelopment #B2BBusiness #SupplyChainManagement #Forging #Fabrication #PressingSolutions #EngineeringExcellence #IndustrialInnovation #CustomManufacturing

𝘛𝘩𝘦 𝘴𝘩𝘰𝘳𝘵𝘤𝘶𝘵 𝘵𝘰 𝘧𝘪𝘯𝘥𝘪𝘯𝘨 𝘥𝘪𝘳𝘦𝘤𝘵 𝘮𝘢𝘵𝘦𝘳𝘪𝘢𝘭𝘴 𝘴𝘢𝘷𝘪𝘯𝘨𝘴 𝘵𝘢𝘳𝘨𝘦𝘵𝘴 𝘧𝘰𝘳 𝘲𝘶𝘪𝘤𝘬 𝘪𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵𝘢𝘵𝘪𝘰𝘯. There are a lot of challenges to resourcing direct materials, so many buyers don’t cultivate alternative suppliers. This is a huge mistake. No competitive pressure = higher costs. We’ve seen it over and over again. Challenges to resourcing include things like: ·        Extensive/costly testing of new materials or supplier ·        Lengthy customer approval process ·        Not easy to find suppliers that are a cultural fit with your company ·        Your components require specialized capabilities not all suppliers have The process story is, 1.     Buyers look at a category, sees one or more of these challenges, 2.     Buyer gives up. The trick is to dig one step deeper and segment the spend into sub-categories. We find actionable sub-categories with enough spend to make it worthwhile 𝗮𝗹𝗹 𝘁𝗵𝗲 𝘁𝗶𝗺𝗲. Here’s an example: A company had a $36M injection molding spend. They segmented the spend into 4 groups: 1.     Grained Class A - $20M 2.     Functional black plastic - $6M 3.     Assemblies - $5M 4.     Painted parts - $5M ❌ Grained Class A parts require lengthy customer approvals ✅ Functional black plastic parts – no challenges! ❌ Assemblies require extensive testing ❌ Painted parts of difficult quality requirements most suppliers can’t meet There is a $6M segment that is ripe for introducing competitive pressure.  My experience is, there’s $200k+ savings possible in this type of opportunity. To identify quick savings on direct materials, look for segments that lack competitive pressure and don’t have any big challenges to resourcing. Are you a manufacturing leader that needs to implement savings starting in 2024? DM me to discuss if you might have untapped opportunities to implement $200k - $500k savings in as little as 14 weeks (with fees based on savings achieved). #CostReduction #Sourcing #Procurement

Knowledge of materials As #manufacturing specialists, contract manufacturers know materials. They understand the nuances of cost, availability, durability, ease of #machining, and so on. This deep understanding means your contract manufacturing partner may have suggestions about materials. Suggestions you should listen to. #procurement #materials #manufacturing

🔩Transform your manufacturing process! 🌍Source globally to save 30-50% on machined parts. Streamlined procurement and quality guaranteed. Your one minute of lead form submission could save 50% in manufacturing costs. Enquire now. Reach us at contact@mnengineeringsolutions.com #globalsourcing #globalsupplychain #procurement #supplychain #sourcing #machinedparts #product Vivek P J Senthil Kumar Deivasigamany Naresh Arunagiri Madhan Kumar P Hema Latha

We are accountable for the entire production process, from design conception to delivery of the final manufactured product. With this client, they just gave us the parts that needed to be assembled and we did the rest. Custom-built keystone jack assembly jigs, engineered by SureSource. #productionmanagement #procurement #productmanufacturing #sourcing #sourcingcompany #sourcingandprocurement #manufacturing #purchasing #supplychainmanagement

Uncover hidden savings opportunities you’ve been missing out on. There are a lot of challenges to resourcing direct materials, so many buyers don’t cultivate alternative suppliers. This is a huge mistake. No competitive pressure = higher costs. We’ve seen it over and over again. Challenges to resourcing include things like: ·        Extensive/costly testing of new materials or supplier ·        Lengthy customer approval process ·        Not easy to find suppliers that are a cultural fit with your company ·        Your components require specialized capabilities not all suppliers have The typical story is, 1.     Buyer looks at a category, sees one or more of these challenges, 2.     Buyer gives up. The trick is to dig one step deeper and segment the spend into sub-categories. We find actionable sub-categories with enough spend to make it worthwhile 𝗮𝗹𝗹 𝘁𝗵𝗲 𝘁𝗶𝗺𝗲. Here’s an example: A company had a $36M injection molding spend. They segmented the spend into 4 groups: 1.     Grained Class A - $20M 2.     Functional black plastic - $6M 3.     Assemblies - $5M 4.     Painted parts - $5M ❌ Grained Class A parts require lengthy customer approvals ✅ Functional black plastic parts – no challenges! ❌ Assemblies require extensive testing ❌ Painted parts of difficult quality requirements most suppliers can’t meet There is a $6M segment that is ripe for introducing competitive pressure. My experience is, there’s $200k+ savings possible in this type of opportunity. To identify quick savings on direct materials, look for segments that lack competitive pressure and don’t have any big challenges to resourcing. Are you a manufacturing leader looking to quickly implement cost savings? DM me, and let's discuss your untapped opportunities. You could implement $200k - $500k in savings in as little as 14 weeks, with fees based on the savings achieved.

People don't buy Products. They join Tribes. An Example: — Before you buy the latest smartphone, deep inside your mind, you join the tribe of that brand's users. Today, the competition is NOT between: — Business vs. Business The competition is between: — Tribe 1 vs. Tribe 2 Let me now talk on behalf of a global buyer / procurement / purchasing managers of: ⚙️ Castings ⚙️ Forgings ⚙️ CNC machined Parts ⚙️ Stamping Components ⚙️ Plastic Parts The real competition is NOT between: — You (the supplier) vs. Other non-Indian suppliers. The real competition is between: — Your, pro-India buyer vs. other, not-pro-India buyer. The supplier's job is to make your buyer win. And, you can make your buyer win by: — Quality — On-time, in-full delivery — Transparency — Responsiveness — Following Safety and Compliances. An additional tip for you (if you like my post): If your buyer is excited to bring his management to your factory, you are doing good work. #suppliermanagement #Sheetmetal #Inox #CNCmilling #vendormanagement

Depending on the size and organization of the company, he or she performs all or part of the following activities: Carefully develop supplier specifications according to needs Specify the needs of internal departments and production Define the maximum cost price in relation to the selling price of the models Cumulate the costs of parts and time, according to the provisional nomenclature of the prototype, with a rate of unknowns Suggest modifications to rectify the prototype and reduce its cost price Negotiate purchases with each supplier Negotiate with each supplier forecast quantities of products at the best conditions of quality, price and deadlines, taking into account technical and commercial objectives Define the conditions of order, delivery, payment, etc.; establish a purchasing contract by taking all the necessary technical, economic and legal guarantees

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