Market Challenges- During the past three years, the global economy has faced many post-pandemic challenges- high inflation, supply-chain disruptions, material shortages and rising energy costs, among others. What had been a booming economy, with no apparent growth apex has been severely weakened in major global market sectors. Facing this adversity, many companies are re-evaluating their production and assembly techniques, aiming to reduce costs. This opens the door for you!
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We have experienced difficult economic climates in the past but have overcome obstacles by initiating a proven 5-step plan used by us and our licensees to show assemblers how to drive down assembly costs.
Step #1-Who are the Decision-Makers?
Have your sales team contact people in the targeted organization who are influential, willing to listen, receptive to new ideas, able to understand the cost-savings concept and have the authority to implement change when warranted.
Step #2-Take a Line-Walk & Develop Support Data
Get access to the assembly operation- take a “line walk”, stop, look, listen and see how all components are fastened together. Talk to line workers and see what problems they face daily. If potential thread-forming applications are identified, select the appropriate fastener designs to best suit each joint. Then obtain joint components and sample fasteners to establish torque-tension, drive-fail and other pertinent test data. Compare the data to acceptable parameters.
Step #3- Document positive test results in a written report, recommending the best fastener design for the application, propose installation parameters, and quote price and availability information.
Step #4- Make a visual presentation to the assembler, explaining the technology of thread-forming, because many buyers and engineers are not familiar with the concept. Take advantage of REMINC/CONTI no-cost education and training programs to keep the decision-makers current with our range of fastener offerings. Without a good understanding of our products’ functionality and benefits, no one will specify or use them- it’s that simple. Our education and training center in Rhode Island is available on reasonable notice to work with your staff or prospective fastener users on our product range, provide application assistance and fastener testing. Alternatively, we will make a presentation at the prospect’s facility.
Our PowerPoint® presentations and videos can be useful in educating and convincing prospective users. Point out the several advantages of buying and using genuine patented and trademarked products, which include high quality, consistent performance and reliable global sourcing. While being a licensed producer of our well-respected family of fastener offerings may enhance your credibility, it’s most critical to develop a convincing case of cost savings.
Show how your proposal lowers the total cost of assembly by offering a unique product that adds value and can be sourced from a global network of licensed producers offering high-level fastener quality, service, and support.
No company can conscientiously ignore potential cost savings in this market. An inexperienced buyer or engineer may conclude that a machine/metric screw is less expensive than a patented thread-forming fastener, and therefore elect to use the less expensive alternative. However, when one considers only the unit price of the fastener, the potential cost-savings benefits of using a thread-forming fastener may be overlooked. Those benefits include the elimination of the tapping station, tapping and cleaning the nut member, elimination of crossed threads and consequential rework, plus more consistent performance and joint integrity. These related manufacturing costs typically comprise 85% of the total cost of assembly, whereas a fastener’s unit price alone usually represents only 15%. To help make the case, utilize our checklist (shown nearby) entitled “54 Ways to Lower Overall Cost of Assembly” because an accurate cost-savings analysis can be difficult to produce when actual cost information is not readily available.
Have Patience but Be Persistent
This 5-step procedure takes initiative, time, and effort, plus the cooperation of the prospective fastener user. Even if your data supports bona fide cost savings, it still may be difficult to persuade buyers or engineers to incorporate a new technology or fastener design into an assembly sequence. Resistance to change is common for a variety of reasons. Therefore, submit your written proposal, but be patient and persistent, as it often takes time to get a favorable decision. Remember persistence!
Our team is ready to assist you with this exercise. Please contact REMINC/CONTI via our website www.taptite.com, email or phone.