How can we reduce production costs for a new product?
Crucially, you should develop your manufacturing plans at the same time as you design the product, so that efficient manufacturing is part of the design. Aim to minimise the number of components and the complexity of assembly. Where possible, use inexpensive standard parts that you already use in existing components or that are easy to source. Look for opportunities to subcontract work or to buy in subassemblies, rather than making everything yourself. This can help to simplify the product development process as well as reducing your eventual production costs. If you use subcontractors to assist developmental work check that it will be you who retains the intellectual property rights.
