Taking the Waste out of Product Development
Medical Product Outsourcing (MPO) recently featured Estes Design and Manufacturing in its May issue based on our expertise in the product development and production of precision sheet metal products for the medical industry.
Our process for taking a product from design to physical product has undergone many years of market testing, and this article shares how we are able to achieve speed, from concept to finished product, and efficiency in medical metal fabrication. Ron Estes, Vice President of Operations, highlights the “why” behind the importance of speed to market in a snippet of the article below.
“Speed, from concept to finished product, is a key performance indicator in evaluating the effectiveness of product development efforts. Some reasons to focus on speed are very clear. If it’s a sound product idea, speed means a shorter path to product launch and positive cash flow. It means maximizing your return on investment on design expenditures, and it means pleasing your customer by meeting project milestones. Other reasons for speed and efficiency in the development process are not so clear but may be equally important. Not every concept is a winner. It’s easy for you or your customer to fall in love with a product idea, but then find the end user is not so enamored. If this is the case, you want to learn that quickly. In some instances, this can lead to a pivot, an adjustment in the course to incorporate newfound information and alter the design objectives. In other cases, it may mean pulling the plug on an entire project. If that’s the outcome, you want to take that step as soon as you establish your idea isn’t viable. In other words, you want to fail faster.”
Read the full article, “Taking the Waste Out of Product Development,” on the MPO website. For a quote on your next metal fabrication project to see how Estes can improve your speed to market and reduce your costs, contact us today.