7 Ways to Reduce Product Design Cost and Maintain Quality

Making a profit in a product business goes beyond selling the end products. The production process and cost-effective strategies implemented eventually culminate into greater revenue and profitability for the business. So, you must do it without compromising the product’s quality and customers’ perception.  

A major way to cut costs and still have effective production is by looking into product design costs. This naturally includes manufacturing and packaging. And by doing so, a lot of money spent on unnecessary items barely valuable to the customer get exposed and dealt with.

So, how do you reduce the cost of your product manufacturing and still maintain quality? It all boils down to engaging in design optimization services. And interestingly, they are easy to carry out to achieve optimum, yet sustainable product manufacturing. 

Below are 7 strategies that outline how you can reduce cost and maintain your product quality.  

7 STRATEGIES TO REDUCE PRODUCT DESIGN COST

Rethink The Design

This works particularly if you are still in the design stage. You could check in with your product development team to see what they can do to rethink the design. This rethink would reverberate through the entire manufacturing process of the product.

A rethink could be beneficial because the product design determines the look, feel, and material used for the product. And once a design that envisions a costly material for the product is created, then that would mean that you would have to spend a lot in manufacturing. However, this is not necessary as shown in the Design for Manufacturing (DFM) framework. 

Thus, a new approach to developing the product could save you tons of money in the long run. As a matter of fact, that your product design gulps money does not mean the customer would value the product. However, you could still get your target audience’s attention and make a huge profit with a less expensive design with premium functionality. 

Use Less Expensive and Sustainable Materials

 Talking of buying less expensive materials does not always refer to making use of substandard ones. As a matter of fact, you could use design optimization services by seeking recyclable or sustainable materials for your product. This makes you spend less on acquiring raw materials for manufacturing. 

If one can use wood and adobe for buildings, and one can use cattle-feed straw for product packaging, then you could devise other means of getting your materials’ needs met in the production process. Most of these materials do not need extra pre-production. They are natural and eco-friendly, hence, a good option for you. 

Largely, these eco-friendly products are more durable, reusable, less toxic, less resource-intensive, and safer for the environment, wildlife, and people. So, you would be reducing manufacturing costs as they are easy to process and have great quality due to their durability. 

Consider Buying Larger Quantities 

This is a proven way of reducing costs in your product manufacturing. Once you buy in large quantities, you propel the principle of economies of scale to tilt in your favor. And these are cost reductions that occur when companies increase production.

Thus, you would spend less even though you are buying more. You have a higher chance of receiving discounts from your suppliers when you buy in bulk than when you buy in small quantities. 

Optimize Your Production and Assembly Procedures

Here, see if you can cut time and waste back by automating the entire production process. Introducing tools, jigs, and specialists would be a trigger for faster and more effective manufacturing. And that way, you could cut down on the cost going into the product development in the long run. 

You could also review and restructure the entire production and assembly phase. See what works and what is consuming time, energy, or money, and remove such a process. Or instead of doing that, you could also modify it for optimum effectiveness. 

Rethink Your Packaging

Packaging is an integral part of your business. But, even as a business, you must learn to cut your coat according to your size. That is, you do not compare your product outlook, that is packaging, with other businesses. 

A great example would be if your business is online. You do not have to have fancy boxes of packaging. All that would impress, but it is not a major thing most of your customers would look forward to. 

Remove Unnecessary Accessories

This would save you tons of dollars if you implement it. While you package your product for customers, often you are tempted to include accessories. These say little or nothing about the value of the actual product.

Yes, it can be tempting to include that nice bag, pouch, or case for your product. But it may not be adding any value being together with another product. So, you can consider removing it and selling it separately. 

Review All of Your Shipping Expenses

Review how much you are paying for shipping to your manufacturer or from your manufacturer to you as well as from you to your customers. It depends on whatever arrangements you have going on in your business. 

But at the base of it lies the fact that many businesses spend a lot more than they can imagine on their shipping fees. And it is only smart that you step back and calculate. Thus, by cutting down on unnecessary shipping fees or modifying your arrangements, you could reduce how much you spend in that area. 

BIGGEST QUESTIONS ON HOW TO REDUCE PRODUCT DESIGN COSTS AND MAINTAIN QUALITY

BOTTOM LINE

There is a trap most businesses might fall into in product development. And that is the fact that they can spend way more than needed if care is not taken. However, by making use of the simple strategies laid down above, they can easily maneuver this phase of their business and always make use of design optimization services to reduce the product design cost. 

When it comes to taking a more effective approach to product innovation, LA NPDT is your best bet! Our stellar team is hands-ready to take your product ideas into profitable businesses and thriving ventures. We have many services available for you including our flagship CAD models and PCB circuits, building prototypes, and a host of others. Reach out to us today through a direct call at 318-243-5789 or via lanpdt.com.