Price, one of the 4P’s (Product, Place, Promotion & Price) of marketing has always been a major debatable issue for the manufacturers. Different products by diverse manufactures have dissimilar prices which are because of the various factors influencing it.
In the plastic industry, the plastic injection molding being the most significant process is also available in fluctuating rates. Obviously, there are few factors involved in the pricing.
They’re as follows:
1. Place:
Place, which place are you?
Place of manufacturing product is an important factor in the fixation of price for plastic injection molding. It is a basic common sense that the manufacturer needs to fix it according to the socio-economic conditions of the place.
Less demand & more price creates a stir among the audience and more demand & less price attracts a lot of audience towards the product.
1. Size:
Fix the price by considering size!!!
Size in this context refers to the size of the injection molding parts. If there are larger parts, larger molds are required in the process and this ultimately results in material cost.
Therefore, size also plays an important factor while deciding the price.
1. Deciding Material:
Be viral with the best material!!!
There are a range of materials involved in the making of injection molding. They include PPE, PPS, PS, PSU, SB, TPE/TPV and TPU.
If the plastic material is corrosive in nature, it requires high mold temperature and if abrasive materials such as mineral, glass are present, then cost of the material is most likely to sore high. This ultimately leads in the cost variation of the mold.
1. Production per Annum:
Production costs decide the Post-production costs!!!
Change in volume of production leads to variation in the price of the injection molding. If good quality materials are used in the making, then obviously it’s going to be expensive.
This at the end leads to change in overall cost of the plastic injection molding.
1. Design:
Design on top of the line!!!
Design also determines the cost of the plastic injection molding. If the company has been sticking to a particular design from the inception, it is well and good.
But if the company is trying innovative designs every now and then, there is ought to be variability in the selling price which can either entice new customers or repel.
1. Part Tolerance:
Be smart with part tolerance!!!
Part tolerances in injection molded parts are one of the significant factors in a finished molded part. In order to produce a part, one must note all of the tolerances that are on the part print.
Parts with tight tolerances need supplementary mold manufacturing steps increasing the manufacturing as well as tool maintenance costs.
1. Cycle Time:
Time is money!!!
Cycle-time optimization in the plastic injection commences in the design stage and to achieve fast machine cycles, tools need consistent cooling throughout the cavity impression.
This in turn requires well-designed tooling and higher precision build both of which raise the tool construction cost and the maintenance cost.
1. Mold Cooling:
Cool in order to mold!!!
The molten plastic is injected into the mold at the injection temperature and kicks off to cool as soon as it comes in contact with the interior mold surfaces, kept at the mold temperature.
Consistent cooling throughout the cavity impression will give in the highest quality part and the fastest cycle time. Diverse cooling strategies will impact the tooling manufacturing cost of the plastic injection molding.