As we all know, the global economy has been going through one of the worst recessionary periods in the history of the free market. As a result, companies across a broad spectrum of the plastics manufacturing industry are facing unprecedented challenges.

Those managing to survive the downturn are struggling to remain competitive, striving to maintain profit margins and retain customers until the downward spiral is reversed. The pressures they face are being shared by their mold designers and builders, whether a dedicated in-house team or one or more external moldmaking partners.

In times like these, the need to save time and costs and maximize efficiency becomes more critical than ever before. Yet, mold builders also need to continue to design and produce high quality products that satisfy customer needs, while still preserving their own viability and profitability. And, they need to ensure delivery on a timely basis to meet manufacturing production schedules. That can be a daunting challenge, especially as mold designs have become increasingly more complex, requiring considerable time and skilled labor.

One proven strategy molders and moldmakers can implement to meet customer demands for shorter leadtimes, higher quality and lower prices is to utilize precisely configured custom or standard components to build their molds. Working closely with a supplier who understands your business and your application requirements is key to your success when implementing this strategic outsourcing strategy.