Have you ever wondered how much you're truly paying for every component in your product? Whether it’s the mechanical parts or the PCBAs that power your electronics, understanding the full breakdown of your costs can make or break your profitability. That’s where Luminovo and Luminarity come in. Together, these powerful platforms provide OEMs and manufacturers with a comprehensive view of their entire product cost structure, from mechanical components to circuit board assemblies. 

Luminovo is designed to help manufacturers accurately understand and control the costs of printed circuit board assemblies (PCBAs), while Luminarity specializes in cost analysis for mechanical parts. When used together, these tools provide an integrated approach to cost analysis, enabling businesses to better manage and optimize their product pricing. 

The challenge of product costing

For manufacturers, the process of cost calculation often involves navigating through complex data across various stages of production, from sourcing materials to assembly and distribution. This becomes even more difficult when considering products that involve both mechanical and electronic components. Understanding the full spectrum of these costs requires powerful, specialized tools to break down each element.

For example, the cost structure of mechanical parts can differ significantly from that of PCBAs, with each having its own set of complexities, such as material sourcing, labor, and production processes. Traditional costing methods may fail to provide the precision required for companies to make informed, data-driven decisions. Without a clear picture of how each cost component contributes to the final product, organizations risk overestimating or underestimating their margins, leading to potential pricing errors and missed opportunities for optimization.

How Luminarity helps with mechanical part costing

Luminarity is a cutting-edge software solution designed specifically to address the cost complexities of mechanical parts. It empowers manufacturers to find cost savings in the existing portfolio and to predict the cost of mechanical components in real-time. This innovative Product Data Intelligence ensures that the final cost aligns with their profitability goals.

Some key features of Luminarity include:

• Cost analysis: Luminarity’s AI-driven recommendations help identify areas where costs can be reduced without compromising quality.

• End-to-end AI platform : Product data becomes systematically usable - autonomous, scalable, and highly accurate.

• Predictions: Luminarity automatically predicts in real-time should-costs, benchmark costs, material class, best suppliers, carbon footprint and more.

How Luminovo revolutionizes PCBA costing

On the other side, Luminovo specializes in understanding the intricate cost structure of PCBs, while enabling instant PCB pricing. PCBAs are often one of the most expensive parts of an electronic product, with costs influenced by factors such as component selection, assembly processes, and component sourcing. Luminovo provides manufacturers with the tools they need to analyze and optimize these costs through:

• Component selection optimization: Luminovo helps engineers choose the most cost-effective components without compromising on functionality or quality.

• Supply chain integration: The software integrates seamlessly with your supply chain data to provide up-to-date cost predictions, considering fluctuations in material prices, lead times, and component availability.

• Assembly cost transparency: Gain a deep understanding of the costs associated with each step of the assembly process, including labor, machine time, and overhead.

By breaking down the complex cost structure of PCBAs, Luminovo ensures that manufacturers can make well-informed decisions, reduce waste, and improve the overall cost-effectiveness of their products.

The power of the Lumi-package

When used together, Luminarity and Luminovo offer a game-changing solution for manufacturers. The combination of these two platforms – dubbed “the Lumi-package” – provides a unified view of all product costs, spanning both mechanical parts and PCBAs.

With the Lumi-package, manufacturers gain:

• Comprehensive cost analysis: No longer will companies have to rely on disparate tools or manual calculations to estimate their product costs. With both mechanical part and PCBA costs analyzed side by side, you can make more accurate pricing decisions.

• Seamless integration: The two platforms integrate smoothly, creating a single, cohesive cost management system. Data flows effortlessly between mechanical and electronic costings, reducing the risk of errors and miscalculations.

• Holistic decision-making: Whether you’re sourcing materials, selecting components, or determining production processes, you’ll have a full picture of all costs involved, allowing you to make better, more strategic decisions.

Building resilience in your cost management strategy

As supply chain disruptions and material cost fluctuations continue to challenge manufacturers, having access to real-time, data-driven insights is more critical than ever. The combination of Luminovo and Luminarity equips businesses with the tools they need to stay agile, adapt quickly to changing conditions, and make data-backed decisions that help future-proof their operations.

By adopting the Lumi-package, manufacturers can:

• Stay ahead of market changes by continually optimizing their cost structure.

• Reduce supply chain risk by making smarter sourcing decisions.

• Improve profitability by identifying cost-saving opportunities across both mechanical and electronic components.

If you're ready to unlock the full potential of your cost management strategy, the Lumi-package is the solution you need. Reach out today to learn how we can help you transform your approach to product costing!