Sunday, November 3, 2013

Engineering Value

OK, I'll admit it. Yes. I have started to shop for Christmas gifts. I know it's only the first week of November. Actually, this early shopping is way off the norm for me. I disdain shopping crowds and wasting time in stores. Usually, I know exactly what I plan to purchase and wait until the last possible minute to get it. So, most of my shopping research is done at home on the Internet. Then I make my purchase when I know exactly what I want to buy for that special someone. In my research, I look for the best product and the best price. I want the best value.

I think we all look for the best value, however I don't think we have a common understanding of value. Value ties requirements to cost. The best product could mean a lot of different things. Value is not always the least expensive product. For example, I can buy an echo manual can opener for a whole lot less than a Hamilton Beach automatic electric can opener. Both do a great job, but one requires more work on my part. If I want to minimize my effort, the less expensive echo is not the best value for me.

At KTM Solutions, our company develops the engineering for new products that support a variety of industries. From aircraft structures to manufacturing automation, we support all areas. Value for one industry is defined differently than another simply because each has it's own unique requirements. Since all consumers want value (whether private or corporate), it is important that engineers understand the parameters that drive the value equation. In order to engineer value, proper and complete requirements definition is always the first place to start.

Are you getting the value you expect from your engineering team? If not, let's talk. Perhaps we can help drive value into your products.

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