A client was looking for a specific hardware solution for their assembly. They didn’t know exactly what they wanted, just that it needed to be similar to a bolt only the head couldn’t have any way for the customer to tighten with a wrench or screw driver because over tightening could ruin the assembly.
We came up with a self cinching stud pretty quickly for 17¢ each right away. They loved it and put it into their assembly. The client then asked a highly recommended international sourcing service to find them the best price they could. They came back with 9¢ for a pretty good savings. Well, we had done the same on our own and came up with a price of 2¢.
Not only that, but because we know their product so well, we also sourced the mating part. This is a threaded furniture insert that they originally paid 17¢ each for. When we were done, we got the price down to 3¢.
The combined price they were paying for this hardware pack was 68¢. They are now paying 10¢ for a total savings of 85%. This saved over $17,000 in the first year alone.
We are now looking at additional hardware from this suppliers because they are so fast and easy to work with. They may or may not have the lowest prices on everything, but low lead times are super helpful to this client so they will be a supplier of ours for years to come.