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Cost Cutters: Battling High Raw Costs
Are you getting fried on the price of raw materials? Here are ways to save.
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DIYDad Posted: 10:46 PM On August 7, 2008
I sell kits and also custom-made electronics gear. Other ideas to save on raw materials cost.
1. Buy in bulk. Lower prices for parts as you buy more.You can also negotiate to buy in bulk, but billed in 2 installments/delivery. BIG savings for me..
3. Outsource manufacturing to China... 80% savings on one of my raw material compared to US companies supplying the same thing.
4. Buy direct from the factory. In fact, one expensive item I'm using went down from $6 apiece to $0.60 by buying direct from the factory in China. Other stuff I buy direct from US factories went down to 50%.
5. Sometimes you can substitute parts without sacrificing quality. Shop around.
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