Manufacturing companies frequently run into roadblocks when developing new products. It’s never easy to create something that’s brand new and totally innovative, no matter if you are a mid-sized company just breaking into the industry or a well-established manufacturer with years of successful product development behind you. Open innovation and collaborative product design are key ways to help your company break through these roadblocks and develop a product that’s both innovative and profitable.
For many, the idea of collaborative product design is an unknown. Inviting another team to help develop your project is a daunting thought for many, but when you actively incorporate another team of experts, you open your product up to a variety of new perspectives that help differentiate and make your product better than what’s already on the market. Innovative networking, especially with reputable, experienced product design and engineering firms, will help you produce better ideas. And better ideas mean better products and better profits.
Let’s take a look at a few of the ways that collaborating with a product design and engineering firm can boost your manufacturing profitability:
Leverage Multidisciplinary Expertise
While your team has highly-specific, relevant experience within your company and industry, a design and engineering partner will have more diverse experience in a variety of industries. The product differentiation that comes from this diverse experience is what will help set your product and your company apart as a leader in your market.
For example, the Fredricks Design team regularly partners with clients developing vehicles, seating, consumer products, and healthcare solutions. In any project we take on, we’re able to apply our experience in each of those industries to design and engineer a product that’s both innovative and functional. Collaborating with a product design and engineering firm offers your team an additional range of expertise that can be applied to develop a unique, innovative, and profitable product.
Expand Internal Capabilities Without Hiring New Team Members
New product development is a complex endeavor. Most often, companies turn to either a product development partner who can complete the feasibility process and who has the capacity to engineer and build products, or they hire on a new engineer for a short period of time to do the same work. We dive extensively into this choice in our article New Product Development Contractor Vs. Outsourced Development Team, but you might consider that partnering with a product design and engineering firm can expand your internal capabilities quickly and effectively, without the hassle of hiring a new, temporary team member.
When you partner with an experienced design and engineering studio, there’s no need for training or catching engineers up to speed. Rather, this collaborative approach offers all of the creative and design capabilities you need, while keeping your product moving swiftly to market without interruptions or delays.
Control Project Costs
Great product design conserves budget. A design and engineering studio understands this and works with their clients and partners during every product phase to develop innovative designs that meet budget constraints. When you work with a design and engineering firm, your contract will specify your budget and expense capabilities, ensuring your product development remains within those constraints. What’s more, a reputable design and engineering firm will have relationships with build sources and property fabricators and can work closely with all parties to develop and engineer a product that maximizes your company’s return on investment.
Reduce Time to Market
A key contributor to your product’s manufacturing profitability is how quickly you can move a quality product to market. Collaborating with a professional design and engineering studio offers a number of benefits that help reduce your product’s time to market. First and foremost, they’re able to apply relevant past experience to your product, which helps speed the development process along.
Additionally, you’ll have just one responsive point of contact throughout development, making it easy to communicate and make adjustments in real-time. Finally, a product design and engineering team has a deep understanding of the development process. They know how to overcome technical obstacles that could delay product introductions, and can help you address any obstacles before they become an issue, ensuring your product reaches the market on schedule.
Collaborative product design boosts manufacturing profitability by helping your company develop a new, innovative product that is differentiated from other products already on the market, that meets project cost budgets, and that moves to market swiftly. By partnering with a reputable design and engineering studio, you are able to leverage their multidisciplinary experience, expanding your team’s capabilities without the hassle of hiring temporary or contracted engineers.
If your manufacturing company is looking for assistance in developing a new, innovative product for your market, get in touch with Fredricks Design. We collaborate with manufacturing teams in a variety of industries to develop profitable products that stand out from the competition. Let us know what we can innovate for you.