Minimize product cost at the design stage

Once the product spec is agreed with the customer the product design stage can begin. It should be noted that this is the key stage for minimizing product cost. At every point the design engineer should reference the product spec in deciding what components to use and what tolerances are required. The design should take into account component and material cost and every effort will be made to minimize cost. If the spec can be exceeded without impacting on cost then this should be done but not if there is a negative impact on cost.
The design should be maximised for efficiency and manufacturability and costs minimized before moving on to the prototype stage.
Every cent saved at the design stage will be a saving throughout the product life cycle whereas every additional cent lost in design will require an expensive redesign in order to be recovered.
The design stage is the key stage to minimize product cost.