Optimizing the balance between time-to-market, cost and product quality is critical for companies looking to increase their market value. Of the manufacturing practices that businesses may use to achieve this goal (value engineering, standardization, etc.), collaborative engineering is the one of the most effective for larger operations, with multiple sites and complex engineering processes.
Globalized, concurrent product development allows manufacturers design anywhere manufacture anywhere. Businesses taking a broad, holistic approach to product cost optimization (PCO) can see long-term RoI and advantageous savings in product design, no matter the industries served or complexity of product lines.
Globalizing Product Development for Lower CostCollaboration between engineering design teams, manufacturing sites and supply chain groups can be optimized for great reductions in global engineering costs. If your company lists poor time-to-market and communication during development as major pain points every year, there’s a lot that engineering collaboration can bring to the table.
To improve market share and curb high production costs, many companies use intrinsic, unified collaboration platforms to simplify global product development. Broad engineering collaboration can help your company optimize design and quality costs by improving:
- Product development and efficient time-to-market
- Tracking of engineering tasks across multiple sites and teams
- Part ordering and tracking ability
- Data transfer and duplication, such as information shared between multiple CAD systems
- Information flow and accessibility throughout concurrent product development chains
- Predictability and repeat processes
Areas Collaboration Can Help You SaveIf your company value or industry standing is hindered by communication between multiple sites, or with manufacturing systems and teams, collaborative engineering can be used to reverse these numbers globally. A well-developed, PCO-oriented approach to collaboration can help your company see valuable savings in:
- Cost of quality; limited defects, traceable part changes and predictability make maintaining high quality products more affordable
- Cost of service; minimal service tasks and consumer complaints due to broader, more unified management
- Cost of engineering; improved engineering cycle time and value-centric, holistic approaches to optimize design effort
- Cost of operation; wide data availability and committed electronics approval processes reduce floor-level product development costs
- Cost of manufacturing; full collaboration simplifies manufacturing tasks globally, resulting in bottom-line savings without sacrificing quality
- Cost of part use; increased process predictability means limited design alterations and defects, and optimal part reuse during development
Implementing Globalized Engineering in Your FacilitiesGlobalization and engineering collaboration are best implemented when companies use structured, holistic approaches. For the greatest RoI potential, companies embracing engineering collaboration must develop collaboration in a way that logically unifies production.
Collaboration is most effective when paired with product development standardization, designed to simplify how engineers process CAD data, BOM data, part data and numbering. A systematic, global approach to engineering collaboration can help your company not only simplify communication between engineers and facilities, but also turn scale to profit.
Engineering collaboration makes it easy for companies to unify disconnected engineering groups, sites and processes, in a way that optimizes development spending and limits product error.
In highly competitive industries and product marketplaces, companies are forced to develop harder, faster and cheaper to keep themselves and their products ahead. Globalized collaboration improves time-to-market and PCO at no cost to product quality, and can help your company more effectively sustain (and even grow) market value as we step into the new year.