Precision machining is an industry comprised of various diversified businesses coming from the manufacturing sector. These businesses are usually involved in the mass production of highly-engineered components of various items. Materials often used in the production process include aluminum, titanium, steel, brass, specialized alloys, and stainless steel. |
Precision machining is not exactly involved in the production of finished products. Rather, what the industry gets to accomplish are the production of components that, when completed, are integrated into actually finished products and become one of their vital parts. Good examples of these are the parts for construction equipment, heavy trucks, automobiles, medical devices, aircraft, and many others.
In other words, what is being produced is not the actual product, but the value of the component once this is incorporated into the main item for which its production was requested in the first place. With regard to the term value, what is being referred to is the rate of the machine for every hour that this is being used.
Since production in the industry is done on a massive scale, the concerned companies are known to receive requests on a per order or per contract basis. Under such a scenario, a number of machines are utilized, and these include CNC or Computer Numerical Control equipment and automatic and mechanical bar machines.
Additionally, since the set-up for requests is on a per order basis, the standard process is for a bidding to be held with all concerned businesses acting as participants. Presentation of the bid proposal requires the use of a designed engineering method. The bid paper itself needs to present the raw materials that will be used and their corresponding costs, the manufacturing expenses, both indirect and direct , and all other charges that will be incurred following the use of various special equipment assuming these will be needed in order to meet the requirements of the project.
Precision machining, as it currently stands, is one industry where competition can be quite stiff. For this reason, it has become necessary for an organization to be established so that order and fair play can be observed. This is particularly true during bidding processes where chaos can easily take place if no official authority is overseeing the entire proceedings.
The result is the PMPA or the Precision Machined Products Association, the recognized industry trade association which seeks to protect the interests of companies engaged in precision machining businesses. Precision machining opportunities, especially their availability to member-organizations, is one of the many mandated responsibilities of the PMPA.
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