Have you seen inside your smartphone?

Modern appliances are made of many parts, many of these parts require high precision and are to be produced in high quantities. The tiny parts inside a smartphone are a good example. The production of these parts will require advanced machinery which itself will require many parts which are made to exact precise requirements.

This where precision engineering comes in. Manual manufacturing has many shortcomings like the deviations in measurements. Precision engineering relies on computer programs that dictate the processes with incredibly high accuracy to within 5 microns. This makes mass manufacturing easier even with tiny and complex parts.

Precision Engineering start with a 3D image of the component fed into a software programme which calculates the movements, angles, and cuts by the precision machine to ensure accuracy. The software also makes sure that the same angles, movements, and cuts can be repeated many times without deviation.

Precision engineering has a lot to do with of the machines that are available in the manufacturing industry today and there are plenty of benefits associated with precision engineering in the manufacturing industry. Some of these advantages include:

1. Longer Lifespan

When the components are created with precision they don’t rub and collide with each other which allows the machine and its components to have less wear and tear hence enables a longer lifespan.

2. Lower Cost

With the accuracy with which the parts are made, reworking, scrapping, and a waste of components is reduced. The ability to mass produce with the same accuracy and quality also reduces the time required and fewer inspections are done. The quality of components is uniform and for a business, this means better and higher profit margins.

3. Reliability & Safety

Imagine producing thousands of parts with slight errors in a single run? This translates into huge amount of waste. This can also cost heavily in reimbursements to unhappy customers or worse, damage due to malfunction/failure or even injury to people. By removing human error, you can produce components that are more accurate and safer to use.

Moving forward, the need for precision engineering can only continue to grow.

Here are the names of precision engineering & parts stocks listed on Bursa Malaysia with the market cap between RM100-500 million: