As the year winds down, many companies are reevaluating their budgets and looking for ways to cut costs. While nameplates and labels are essential components on your products or equipment, they often garner some scrutiny during budget reviews. Finding efficient solutions for these items can help optimize your overall costs and enhance your bottom line! Here are five practical tips to help you save some money without sacrificing the quality of your product identification:
1. Review Material Choices
Take a look at the materials used for your product identification. Unless specific thicknesses or types are required - like fitting into a specific space or shape or passing certain tests, there may be alternatives! The substrates we offer like aluminum, stainless steel, polycarbonate, and polyester come in various thicknesses. Opting for thinner options can reduce costs while maintaining the quality and durability you need!
You can find our free substrate guide resource here. It’s packed full of information on what we offer and the best practices for each material!
2. Standardize Label Size
Consider standardizing label sizes across your products. If different labels require similar information, using a consistent size can be a great way to save some money. Using a common shape or size across your product lines strengthens brand recognition in the market and can cut costs! A win-win!
Take a look at this blog post on Metal Nameplate Sizes. It’s got tons of information on the dos and don’ts of creating metal nameplate and ID plates! If you’re working with a flexible substrate like vinyl or polycarbonate – our Customer Care team is available to answer any questions you might have.
3. Consolidate Suppliers
If you're working with multiple suppliers for similar components, it might be time to consolidate it under one roof! By bidding out all your label and nameplate needs to a single supplier, you can leverage your total spending for better pricing. Understanding what each supplier offers can reveal addition cost-saving opportunities.
If you'd like more information on what McLoone can offer you, click here to see our Products page! If you’d like to talk directly to our Customer Care team for more detailed product offerings, send us a message – we’d be happy to help.
4. Optimize Purchase Order Frequency
The more detailed and organized you are about your ordering patterns, the easier it is for suppliers to find you savings opportunities! If you can forecast your label needs accurately and place larger orders less frequently, you might lower costs per piece, reduce administrative work, and save on packaging and shipping.
Again, this can seem like a daunting task – but our Customer Care and Sales team are well-versed in these topics. Reach out if you have any questions and they will be happy to guide you in the right direction.
5. Evaluate Production Processes
Just like reviewing your substrate choice, it can be very beneficial to look into your product identification design and the processes used to create it. Are there any colors that don’t add value or could be re-engineered? Keep in mind, certain colors or callouts might be required through regulations or compliance directives. But, identifying any unnecessary steps or complex designs that could be simplified can reduce your costs.
For more information on the processes we offer here at McLoone, click here.
Wrapping It All Up
Effective communication with your suppliers is key when exploring cost-saving options. Having early discussions about your specific needs and forecasts can help balance price and quality! Remember, each label and nameplate is unique, so what works for one might not work for another. By taking the time to analyze materials, shapes and sizes, and streamline ordering and production processes, you can find valuable savings that enhance your bottom line!
As we’ve mentioned, our Sales and Customer Care Team are very knowledgeable and would be happy to work with you on your existing or new project to help find a more cost-effective solution – just send us your artwork file and we can get started!
