1. Identify the problem
Poor design, too expensive, too heavy, quality issues, lead time or shipping issues.
2. Current State Assessment & Goals
What is the functional requirement of the part, quantities needed, implementation time frame and target cost?
3. Value Add
How could we potentially add value to this component. Can it be merged or integrated with another mating component to achieve a better outcome?
4. Analyse the Dimensional Options of the Component
What changes can we make to the physical characteristics without compromising functionality?
5. Analyse manufacturing options
Review all options to manufacture the component, with and without tooling.Add some nice text here.
6. Component Costing
Apply production costing methodology to the chosen manufacturing process and produce a part cost.
7. Test & Trial Prototypes
Trial new solution, optimise the design and commence infield testing. If test & trial fails, re-visit steps 3, 4 & 5.
8. Inventory Management
Commence run-down of obsolete stock and ramp up inventory of new component.