How to reduce the production cost of my device?
Developing an innovative product that doesn't exist yet is not an easy task. During the development process, stumble blocks emerge. Our team took the time to talk about how to reduce production cost
Let's talk about production cost!
Our advice to help you reduce your product's production cost
When you understand how your costs are coming together, you’ll probably ask yourself how you can reduce your production cost. One of the first aspects that comes up are the numbers produced, compared to the investments. It is very easy to say that we are going to make investments and thereby optimize our process and bring down the production cost of both the parts and the entire process. So that is one of the first things: to produce in higher numbers and dare to make that commitment. Then, in the end there is a good chance you’ll end up with a lower cost.
It's also important to chat with your suppliers. They know their profession and have done such things many times. They can also help you translate your concept into something that is efficiently producible, thereby reducing costs.
Something that is often forgotten about is specifications. There, the rule of thumb is: as loose as possible, as tight as needed. Waterproofing is a simple example where this applies. The term ‘waterproof’: what does that mean exactly? Does it mean: it must be able to withstand a splash of rain, or does it mean: we are going to put it 3 meters underwater and leave it there for a year. Take these things into account, because it all requires extra effort and increases costs.
Of course, don't forget the assembly. Do not underestimate it. It takes time. Whether it comes down to actions by people or by machines, this also cost a lot of money. Make sure to think about this already during the design stage, so that you can set it up efficiently.
Finally, cost reducing also applies to testing. Be sure to test at the right place, at the right times. Avoid rework afterwards, when your entire product is already assembled. It would be unfortunate to discover that something is wrong in this stage and having no choice but to take it all apart. Testing should be done as early in the process as possible, as it is much more efficient to act there than at the end of the ride. Be sure to discuss that with your partners.
We hope these tips & tricks will help you get a better idea of how you can reduce your production cost!
If you’re in need of a good partner, we can always help you figure this out for your project. Interested? Let’s plan a quick meeting to talk this through!