Most people accurately think of Precision as a custom solutions provider. However, where circumstances and economics make sense, we have tooled standard and drop-in parts to meet specific customer applications to match our competitors’ standard parts and pricing. A large customer in Eclipse’s territory selected Precision as its preferred supplier based on engineering support, responsiveness to application development requirements, and our ability to provide custom and standard solutions and not just tooled standard parts. It was our ability to provide custom, standard and drop-in parts that set us apart from most of the competition. This was a great sales job by Eclipse.
A Trembly customer asked us to provide a “strictly” standard drop-in part at 20,000 units in two weeks because our competitor’s lead time had moved to 20 weeks. That turned into a 50,000 unit order and then to a 500,000 unit order. The part is a true standard part and is one of our standard inductor parts listed below. Kudos to Trembly and especially Precision’s newly installed cross-reference web sheet and the hard work of Tom McAtee. This customer initially came to our website looking for a direct drop-in replacement part.
Because of these potential standard product situations, we are consistently asked why we do not develop more robust standard product lines. Our question has been “which standard part and how can we be competitively priced?” It is a matter of directing resources. Tom McAtee, Mike Schubert and Lory Brasel have been working to identify product and determine how we can compete in this world of inventories, distribution, and volume pricing while addressing the applications you run into in the field.
While none of our distributors currently stock any of our parts and most of our activities with them have revolved around custom projects, they have asked about certain high volume and/or popular parts. We’ve evaluated this feedback, as well as feedback from companies like Trembly’s customer, and chosen three inductor families frequently requested by the primary distributors. The distributors are now loading our data into their databases.
Our three families of inductors are standard parts offered by Wurth, Coilcraft, and Vishay. We aren’t going to put these big dogs out of business, but we are well positioned to compete. Our products are equal to theirs in quality, and we are pricing aggressively to help bring in business. Our goal is to be a well-rounded supplier and to make your job easier. Through more links on the internet and selective joint advertising with distributors, we are confident about establishing name recognition in the market. It will also help to have over 300 distributors’ salespeople and application specialists in the field