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U.S. mold suppliers for Toyota's operations to provide the best molds

June 08/2011

(Plastics Today) -- Being a supplier to Toyota is a coveted position, and the Japanese car company is dedicated to helping ensure that its U.S. mold suppliers for the company's U.S. manufacturing operations provide the best molds at a globally competitive price.

Toyota Motor Engineering & Manufacturing North America Inc. has a better way to deal with tool and mold suppliers. Recently PlasticsToday was invited to attend a Tooling and Mold Suppliers training seminar that helps these suppliers understand the Toyota way, and what they need to do to be a good supplier to Toyota and its Tier Ones.

Through its Purchasing Tooling Cost Analysis Group (PTCAG), Toyota has determined the cost of molds based on the types of molds and the various components used, in all regions around the world. The purpose of this is to make sure that the company is paying the "right" price for the mold, not necessarily the "cheapest" price or the "highest" price.

Because Toyota has all of the cost benchmarks in place, the company knows what the appropriate price should be for molds coming from various regions of the world. For example, the labor rate Toyota uses for tool builders in the U.S. is USD 60 an hour, which is much higher than for a mold coming from China.

Tags:IM, car components.
Category:General News
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