Procurement in the machine tools and parts industry has always been a time-sensitive process. However, with the current geopolitical situation, economic uncertainty and continuing supply chain issues, machine tool procurement is facing significant additional challenges.
Despite these macroeconomic conditions, the machine tools global market is expected to generate a revenue of USD 234.6 billion in 2024, with a CAGR annual rate of 2.71% between 2024-2028.
In order to plan for another demanding year in machine tool procurement, businesses are strategizing to ensure they have a consistent, efficient and cost-effective supply chain for machine tools and parts in place for 2024.
A key issue that many procurement managers come across is that of finding the right machine parts to suit requirements when it is time for a change of supplier or a newer model is needed.
Can you find the right machine parts?
The question many businesses ask is how to secure the ideal tool or part and ensure that the product is of high quality and resilient with long-term potential. Every machine tool company knows that their tools and parts are essential when it comes to maintaining their machines while generating precision and accuracy during production. During our conversations with machining companies, they often tell us that previously they had to settle for below standard tools and parts so that production could continue to deliver for their clients. This is clearly not a permanent or ideal solution and can cause serious damage to expensive machinery. There may also be friction with clients who receive products they have ordered that are not in an appropriate condition or do not meet expectations. These risks are real for machine tool companies and it is vital for continued growth and profitability that the right machine tools and parts are procured to complete projects successfully.
Superior quality matters
In June 2023, seasonally adjusted industrial production increased by 0.4% in the EU, compared with May 2023, according to estimates from Eurostat, the statistical office of the European Union. As a result, the quality of machining tools and parts is unparalleled in importance to ensure success of production. Additionally, the ability to complete final products that meet or exceed client expectation relies on the consistency and reliability of industrial machinery. If your procurement team decides on a low-quality tool, this may seem fine in the short term but will undoubtedly cause problems later as you might have to buy another new part again in no time. This will require extra effort, finance and resources if low-quality products break down, interrupt production and impair valuable machinery. A question you may want to ask is: how do I recognise high-quality products that suit my business needs?
What are machine tools?
Machine tools are obviously integral to machining rigid materials, such as metals. These tools are capable of cutting, shaping, boring or shearing raw materials to create new products. Machine tools require an assortment of different parts to keep running, including clamping of tools and workpieces. To classify in more detail, machine tools have four unique features:- Precision: the parts are specifically designed to manufacture products with high precision.
- Rigidity: this helps products to withstand forces exerted during the process of cutting.
- Power: enables the machine to drive cutting tools through tough materials.
- Repeatability: being able to produce the same part over and over again without losing consistent quality.
How to identify the right tools and parts
In order to achieve optimal results during the machining process, it is critical to choose the correct machining tool or part. No matter what machining industry you work in, opting for the right tool can improve productivity, performance and efficiency. Another significant factor to consider is the right constituent parts of your machine tool or part so that the product you select is of appropriate durability, flexibility or resilience to complete operations effectively. During your assessment of your machining process needs, you may want to think about the levels of speed and accuracy that are ideal for the project. There is little doubt that an evaluation of these qualities will help you achieve the optimal cutting parameters required and produce more exact machining results.
Machining geometry
Selecting the right tool geometry and reviewing if your product needs a definite angle - such as rake angle or clearance angle – can also help you to choose the right machining tool for your project. This may be reliant on the types of operations you are undertaking, you might want larger rake angles on tools for roughing operations and higher helix angles for finishing processes.Getting ahead with technology
In a rapidly-changing landscape, it is crucial to keep pace with technological changes in machine tooling, therefore selecting products that can be easily upgraded or improved can be more cost efficient and relevant over time. Compatibility with new technologies that are coming onto the market is also a good idea, ensuring your machinery remains adaptable for longer.
Secure premium quality machine tools
Procurement has its challenges when you want to find that perfect machining tool or part so that your operations are not stalled. However, this can be tricky when all you have is a one dimensional picture of a tool in a thick catalogue.It’s true to say that there is an element of risk involved, as you can’t guarantee the tool or part will fit seamlessly into your machinery or complete the project successfully. This is where experience and advisory guidance come into play.
Here are some tips to help you choose high-quality machine tools:
- When you select a supplier, ask for product videos. These days, most machine parts suppliers who produce high-quality products are happy to provide extra information to help you make your purchasing decision.
- Research your chosen supplier and read a good selection of reviews. Customer reviews by others in your industry can make all the difference and deliver a more balanced perspective on the tools or parts you are looking to buy. With Hectool, a new AI-driven B2B marketplace for the machining tool industry, you’ll be able to compare suppliers and read customer reviews.
- Be as educated as you can about your industry. Research competitors and alternative products or suppliers online. The more you know, the easier your choices will become when you are procuring machining tools and parts.
- Become an expert by joining industry forums and online professional groups. At Hectool, we share a wide range of machining industry insight and news on our social media and website so you can get ahead of the competition and recognise high quality machining tools more easily.
If you want to learn more about securing high quality machining tools and parts, visit Hectool for all the industry knowledge you need to scale and grow.