Are you sure of your production cost
Increase Product Cost or Continue Production at Loss. What did Precision Products do?
Customer Profile:
Precision Products was founded in 1986 that made Sheet Metal Components & Plastic Molded items. After these first radiators, the firm expanded its portfolio with the production of Heat Sinks.
In 2011, They entered into an extensive line of residential and commercial products which incorporate style and innovation into Cisterns, Seat covers, Faucets, Showers, Sink, Household and accessories etc.
Case Study:
The production cost of your product can and should only be determined by the sum of the cost of the resources that went into making it. But how do you validate this cost?
This was not the question raised to Precision Products. Perhaps our association began by installing our device to their moulding machines only for energy monitoring. But as we continued our analysis, we found that the cost set for a product was lesser than it has to be. If we hadn't found, they may never have realized that they were selling their product at less price.
This finding was taken to the Managing Director of Precision Products by their employees and they had to take the inevitable decision, whether to increase the price of the product or continue running the business at loss.
Leading business turn to Energyly to reduce their energy bills up to 25%
Energyly has now over 1500+ customers spanning across multiple industries such as Manufacturing, Retail, Hospitality etc., and 30% of them are from Plastics Industry who have a turnover from 1 crore upto over 200 Crores.
Most of them use it only as a real-time energy monitoring tool to find out if the machines are working, and track downtime, machine to machine performance.
As an Owner of business, knowing the average price of energy for an industry is really valuable. I can use it to set up the benchmark point for competitions and tenders.
Not only did Energyly prove to be an excellent platform for technical monitoring of energy consumption devices, it also served as a source of learning for the entire factory.
Energyly is the ideal energy savings tool for us. We can implement efficiency measures and then see exactly how much we are saving.
Virgo polymers saves 14440 units per month with Nano-Infrared heaters and Energyly’s power monitoring.
