Many companies are drawn to cheaper means of manufacturing when they are available. The reason they are so tempting: Cutting costs is a big advantage for any type of project.
While choosing the lowest-cost manufacturer may seem like a good idea upfront, there are some potential dangers with going this route. The costs saved on the front end can be counteracted by even larger costs at later stages of the product life cycle.
To avoid this trap, companies should look at the bigger picture — what sourcing product from the cheapest cable and connector manufacturer really costs.
The lower costs of manufacturing can sometimes be a reflection of overall product quality. As the quality of the product diminishes, its customer satisfaction and profitability goes down, too. For example, a poorly designed cable or connector is more subject to corrosion and wear. This can create safety hazards for the entire system in which it is used.
As these types of safety hazards are discovered, product recalls can occur. This can lead to companies spending more money as they try to correct the issue and regain credibility. The most successful organizations take the necessary steps to do things right the first time around.
A faster time to market gives companies a competitive advantage. Before products are ready to be sold, they must go through a series of inspections to ensure that the appropriate standards are met. In the case of cables and connectors, designs need to comply with customer needs as well as industry regulations -- a core focus of iCONN’s products.
When in the hands of low-cost manufacturers, it’s more likely that issues may pop up at this stage. Such delays in product development can cause companies to fall behind competitors, while also increasing production costs.
Consumers are always searching for products with greater capabilities. Cutting costs on manufacturing can sometimes translate into sacrificing some of these features. Waterproof designs are one example that apply to cable and connector design.
If the capabilities consumers come to expect are not included in the product, its value can decrease. Consumers will opt for more sophisticated designs with greater value to meet their needs.
When it comes to optimizing product designs, engineering solutions are a powerful step in the right direction. While the right recommendations might be provided, the follow-through may not be as effective in the hands of low-cost manufacturers. This can decrease the overall quality of the product and affect its reliability.
It’s important to think about the long-term costs of your products and their lifecycle. While it might be tempting to source the cheapest manufacturer to save on cost, it’s important to consider how this choice might potentially hinder the success of the project, and thus its overall cost.
iCONN offers high-quality cables and connectors at an affordable cost to meet customers’ needs. If you need customized solutions for your specific application, our team will be there to guide you through the process, from the research stage to product support. Contact us to learn more.