Everyone loves saving money…us included. It becomes even more important when you’re in an industry where there are tiers of suppliers and price is scrutinized at every level. Finding a way to reduce costs will keep you competitive and a part of someone’s supply chain.
In most applications, the gasket tends to be less of a cost driver than other parts, but it doesn’t get any less scrutiny. Everything adds up when you’re trying to stay competitive and it doesn’t matter how big or small your piece of the puzzle is. We get calls all the time from our customers asking how they can save money. Continue reading to see how you can try to reduce the price of your gasket material.
Reducing The Price
1. Are there price breaks or volume discounts?
Ask if your supplier sells their material in a tiered system. If you’ve always bought the exact quantity of gasket material needed, maybe you’re paying more per sheet or coil than you should be. If you can move into a higher tier, you’ll sometimes get a much better price. The savings can then be passed along to your customers.
2. Figure out how to use more of the material.
Now that you are buying more material to get that price break, you have two options. One is that you just enjoy the freedom of not buying as many times throughout the year. The other option, and how you’ll use more material, is to shop the gasket material around for other applications. You might just shoot your usage through the roof, and then possibly get an even better discount!
3. Is there a less expensive material that will work?
Unless a particular material is on the specification, there may be an alternate material that will still meet your requirements. This may drive some additional testing to qualify it, but in the long run, if there is an economy version or a similar material at a lower price point that works, you’re going to have one happy customer.
4. Ask what else can be done about the price.
As a gasket materials supplier, we look for every opportunity to pass along savings to our customers. If you have a particular material that is a pain point for a particular customer, talk to your supplier. If we are aware of the issue, we can look for opportunities to do something about it. Every once in a while, we can work with our suppliers to explore volume and pricing issues that may help you in the long run. You don’t know if you don’t ask.
The Bottom Line
Price can be a difficult issue to work through. By fostering a strong relationship with your suppliers, you’ll be able to have these conversations. A good supplier recognizes when they have a strong relationship with their customer, and does everything they can to make the partnership as successful as possible. Sometimes a straight price reduction isn’t possible, but there are ways to purchase a gasket material that meets your requirements at a better price than what you are currently paying.
Metal Tech has passed savings along to customers twice this year – one with the restructuring of a coil discount that helps more of our customers save money, and the other was a price decrease that we were able to make after working with one of our suppliers to reduce costs. We are always working for you! If you are interested in subscribing to Sealed-In’s blog posts, email firstname.lastname@example.org.
Are You Looking for Cheap Gasket Material? Be Careful What You Wish For.
If you are reading this because you are shopping for “cheap gasket material”, please keep reading for a few considerations you should be aware of on your quest to procure the best valued gasket material for your application.
The Great Gasket Debate: To Reuse or Not To Reuse
As a trusted gasket material supplier, our recommendation is that you never reuse a gasket. We’re going to break down some of the arguments for and against reusing, and what you need to consider when making that decision for your application.
Dreading that work to qualify a new material? Here are 4 reasons why you should just bite the bullet.
If you’ve gotten to the point where you sincerely believe it is time to look at new materials but have trouble convincing the decision makers to do so, this week’s post is for you.
Gasket Material Cost Savings
Metal Tech Industries was contacted by a large heavy duty diesel engine equipment company with an inquiry about assisting with a cost savings initiative. Although our customer wasn’t trying to solve any performance issues, they had an opportunity to dramatically reduce the cost of their exhaust gaskets (>80% cost reduction)...
Gasket Material Cutting Service
Metal Tech engineers have developed a world-class cutting operation to take the hassles out of it for you. It’s easy! Send us your requirements; we’ll send you the parts! Provide clean DWG file (1:1 scale, one level, no security). Work with our team to complete streamlined checklist, submit PO, receive the parts. EASY!