New products in the market over a period of time, eventually lose their market position, as competitor products with lower prices or more features are introduced. With this reality, product managers must find ways, like lowering prices or improving quality to maintain their market share.
Value Engineering enables reduced product costs in an optimal, design-conscious way that preserves the quality while sustaining the functionality and features of the product.
Modifying your engineering processes and functionality to optimize cost should not distract you from the products produced; rather, it should complement your internal functions to raise value.
We at Changepond follow a Multi-dimensional approach to solving cost and value challenges.
- Leveraging the power of engineering to address product cost at each dimension.
- Start with an as-Is assessment and goal setting
- Conclude with an impact assessment of the value engineering effort to evaluate ROI
- Can be either a cost avoidance or a cost reduction strategy depending on when in the product lifecycle this is done
Our approach can help you to optimize:
- Product Cost
- Manufacturing Cost
- Logistical Cost
- Cost of Ownership