In this sixth and final article of our six part blog series, we explore a potential technology solution that can help Automotive manufacturers better manage the cost impact of increasing government regulations around fuel efficiency and emissions.
#6 MYTH! New technologies are powerless to help manufacturers improve costing systems
Only by progressing with technologies that provide access to real-time cost assessments throughout development, will automotive engineers and manufacturers be able to make better-informed decisions that drive significant costs out of products pre- and post-production. But this can only become a reality as long as they aren’t afraid to adopt innovative new methods and technologies.
New technologies are definitely not powerless to help manufacturers overhaul costing systems or optimize supply chains.
Automated costing capabilities enable companies to increase the percentage of cost optimized parts in new product designs and significantly improve profit margins. This technology can also provide a method to batch cost production parts and identify outliers where there may be overpayment of suppliers. There is significant opportunity for cost savings here, and only technology provides the fast track to realising them.
With these capabilities on board to quickly and easily calculate costs for component or product assembly, designers and engineers will always know if the supply chain components they are incorporating into their designs will push them over target cost or not.
Want to learn more?
Download the whitepaper, How Automotive Manufacturers Can Navigate the Cost of Increased Government Regulation, to learn more about these issues, and about new strategies that can help automotive manufacturers navigate the cost impact of these requirements across the entire product development process. This whitepaper also presents ways to identify new cost savings on individual parts and products as well as entire product assemblies and platforms to offset the increased costs of new regulations.
Other posts in the European Automotive Facts and Myths series