Case Study: Client #1
Metal Injection Molding (MIM) Manufacturer
A MIM manufacturer was getting most of its business from the automotive industry and wanted to explore opportunities in other sectors.
Stage 1: Exploration
PMT looked through its extensive array of contacts and information and identified 20 to 30 applications and accounts that would be a good fit with the manufacturer’s capabilities. The opportunities were condensed into a living spreadsheet. PMT worked collaboratively with the manufacturer’s CEO to narrow the list to three strong-potential contacts that could be approached immediately.
Stage 2: Prospecting
PMT pursued all three accounts to gauge interest. One of the opportunities, involving an electro-mechanical device, became a priority because PMT was already familiar with the specs of the part and knew it would be a good fit for the manufacturer. In addition, a partnership with this account would add long-term value, since MIM had been tried for this part in the past unsuccessfully. PMT recognized the technical challenges and guided the manufacturer in addressing them. It also was able to approach the account with a plan in hand.
Stage 3: Mining
The project is still ongoing. Once the right partner is selected, PMT will get the purchasing, engineering, and quality departments aligned in favor of the manufacturer. This involves traveling to multiple customer locations. PMT will develop a prototype and part-qualification regimen and ensure that the manufacturer realizes the most advantageous part price possible.
If qualification tests are successful, the manufacturer will have a new customer worth $600,000 in sales per year, boosting its turnover by 10%. There is the potential to secure additional business because the manufacturer has been audited, is an approved supplier, and is in line for new RFQs. Another benefit for both the manufacturer and the account: The challenges associated with making the part in MIM will be solved, which helps everyone.
Are you interested in how PMT helped other powder metal manufacturers bring in new customers, solve powder metallurgy business challenges, and increase sales? Read more case studies here. Or return to the Gallery.