Cost Down Componentry Exercise

Identify the problem

Poor design, too expensive, too heavy, quality issues,
lead time or shipping issues

Current state & goals assessment

What is the functional requirement of the part, quantities required, implementation time frame and target cost?

Analyse the dimensional options of the component

What changes can we make to the physical characteristics without compromising functionality?

Analyse manufacturing options

Review all options to manufacture the component with and
without tooling.

Component Costing

Apply production costing methodology to the chosen manufacturing process and produce a part cost.

Test & trial prototypes

Trial the new solution and optimise the design and commence infield testing. If test & trial fails, re-visit steps 3, 4 & 5 if required.

Inventory Management

Commence run-down of obsolete stock and ramp up inventory of new component

A real life example of how to reduce componentry costs

Swift Metal has helped one of its valued clients in optimizing one of their metal components by following this cost-down exercise.
A real-life example that it works. 

CLICK HERE TO READ THE CASE STUDY

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