How cheap is cheap?

Greetings to all visitor,

Today we are going to share about “How cheap is cheap” which mean how you can declare a thing is cheap? So we will going to tell you a few methods that will be useful for you when making a purchase. This method is derived from our own methodology and experiences so if you have different or contradiction perception, well there are comment section below. Feel free to comment about it 🙂

Quality-over-Price (QOP)

When talking about quality, it will be an intangible and relative benchmarks, but for us, quality of a product can always be measured from its datasheets, manuals and real world performance. Quality scaling can be performed by taking the highest accuracy, precision or any specifications that matter for your projects as benchmark. Let say you want to buy a hydraulic pump. So the specification that matters could be Volumetric Efficiency, Power Consumption, Pump Efficiency etc. You need to find the highest. For example you found an A pump that have the best efficiency that is 90%, then, the equation to find the score is simple as:

Score = (product efficiency/90%) x 10

The value 10 here is for scaling between 0 to 10, so if you want to change it to 100, feel free to do so. Now, let say you found a pump that has pump efficiency for 70%, therefore the score will be 7.7, simple isn’t? be with me and read along..

Quality-over-price means how much quality you can have over a price value. For example, for A product: from scale 1 to 10, the quality is 7 and its price is RM130, and for B product: from scale 1 to 10, the quality is 9 and its price is RM180. So A score will be 7/130=0.05 and B score will be 9/180=0.05. Here you can see both A and B product have same score for Quality-over-Price. This result does not mean A product have same quality as B but we can say that A product is worth as B product. If you have tight budget but need to decide which product to be purchased then you can use this formula.

We hope your projects are going as planned and if you need consultation for your project, you can always reach us at admin@thmuda.com

Regards,
TH Muda Engineering

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