Custom Part Intelligence: Resins Follow

Intelligence into spend and savings opportunities for resin custom parts molding can help you identify areas where you can reduce costs and optimize your production process. Choosing the right injection molding partner, optimizing your product design, and selecting the right resin for your project are all crucial steps. Custom Part Intelligence for Resins can help you evaluate resin suppliers and molders and detect opportunities and price variance to optimize your production.

Custom Spend Intelligence (Resins)

Within Resins, users can see where a lack of data integrity (e.g. Dark Gray, Dark Grey, D Gray, DG, etc.) of nomenclature (colors, Resin Types, Suppliers, Molders etc.) is preventing consolidation awareness that can create savings opportunities. They can also see where price variance occurs within the most logical grouping (e.g. resin, part number, and color).

1. Resin parts spend information is presented in a variety of charts and tables.
2. There are dropdown menus to view other charts.
3. Summary Metrics and Opportunities are highlighted in a similar way to Spend Awareness.
4. Date Picker allows you to select the date range of analysis to review. Since you can upload new data with new dates anytime, it’s important to limit data in this view to the time range you want.

Example: Spend of Resin Supplier to Molder

You may want to look at an individual supplier, or color, or you can see where you might have single-source risk, or too many colors, or analyze a supplier to molder relationship.

For example, if you (1) click into any given supplier in Total Spend by Resin Supplier, then (2) choose the view Supplier to Molder Flow in the right chart, will provide you a (3) breakdown of the resin supplier to molder spend.

If then you toggle the right most view to (1) Molder to Machine Tonnage, you can see a breakdown of Molders and (2) hover over specific ones to see the breakdown of machine tonnage they are supplying.

Resin Price Variance Analysis

Custom Part Intelligence is meant to provide discovery of internal variance so you can realize cost savings. When you look at Resin Price Variance Analysis (sub-tab 2), you can (1) choose specific date range for analysis, (2) select a Resin Type Resin Part Number Color for analysis, and then (3) see the price differences and variance in what you are paying.

Switching to (1) Price Timeline View in the chart selection dropdown toggles the view to the Resin Part Number level and allows you to see how those prices have changed over time.

The first and largest number in the upper left is the Total Resins Material Savings Opportunity available to you if you buy your resin parts at the lowest cost opportunity level.

The table below to Choose Resin Part Number to see Price Variance ranks the parts from highest to lowest Material Savings Opportunity.

Example: Choose Resin Part to See Price Variance

When you click into any of those resin parts, the other dashboards will filter so you can see the price variance and price share. The following example is focused on resin part savings at unique color level.

1. Click into the part with the highest potential savings (i.e. Cycoloy C1200 HF) and then drill into Dark Grey color from supplier Sabic, we can see that there are several molders from there.
2. The price variance is apparent in the graph above, but the table also indicates CHT is delivering a lower minimum and average costs than Hongrita for the same resin part number.
3. Toggling to the Flow Diagram, we can see a lot of supply already allocated to CHT. Yet for this resin part in this color, it may make sense to shift allocation of further molding to CHT to realize savings.

Scroll down to review the View Resin Part Number to see Price Variance Detail table below.

It will be sorted by Material Savings Opportunity which is calculated as:

$$(\text{Current Cost per Kilogram} - \text{Minimum Cost per Kilogram}) * \text{Total Kilogram Volume}$$

The purpose of this sorting is to provide intelligence into the largest opportunity for the parts with the poorest current costs.  It should support your decision-making as you shift allocation to better priced molders.

Machine Rate Variance Analysis

Similar to the previous tab, users can (1) Choose Analysis Timeframe and then see the Total Machine Rate Savings Opportunity value as a large number in the upper left. The filterable table below that allows you to Choose Tonnage to see Machine Rate Variance and in there, if we were to (2) select our largest opportunity (i.e. 350-ton press for an object about the size of a trash can), we can filter the other dashboards in drilldown view.

Example: Drilldown Analysis on 350-Ton Machine Rate Variance

In drilldown view with 350 machine tonnage selected we can (1) compare the Various Machine Rates for same Press Tonnage and review (2) Lowest and Average Machine Rate by Molder to see both the lowest cost per hour and the average cost per hour.

By (3) toggling to Flow Diagram View for the Machine Tonnage to Molder flow we can see that an enormous quantity of this molder work is being done by CHT and HordRT at higher costs as indicated in the previous table (2) Lowest and Average Machine Rate by Molder. From reviewing that table, it seems like considerable cost savings could be realized by shifting a larger allocation of molding work to FuYu and FOW at the lower $19 cost instead of $26.

Scrolling down to the View Machine Rate Variance Detail table, the minimum rate is highlighted at the top and the table is sorted by the Machine Savings Opportunity in the final column. From here, you can compare output requirements and costs to analyze the potential savings while determining the accuracy of the fit to your operations.

Customer Loaded Data (Resins)

Customer Loaded Data allows you to review custom part information you have uploaded. Users can load additional resin custom part data any time and have the date stamped and included as part of this analysis.

1. Controls allow you to filter between resin types, molders, CPNs, resin part numbers, etc.
2. Analysis date allows you to pick specific time periods if you have loaded many different months of data.
3. Analysis breakdown lets you choose specific manufacturers for specific months in the table.
4. The table will have all of these custom resin parts with the attributes listed including but not limited to resin part number, machine tonnage, cycle time, material spend, etc.

Conclusion

Understanding the internal price variance for your custom resin parts is crucial for maintaining cost controls and evaluating the efficiency of your production process. Estimating the cost of custom resin parts comes with inherent difficulties and evaluating the variance of these custom parts improves accuracy in your sourcing and production process.

We hope that you take advantage of LevaData Platform's Custom Part Intelligence: Resins feature to give your organization the edge in competitive pricing and operational efficiency. If you are not currently using this feature, reach out to your customer success manager today to discuss how you can start loading custom resin parts.