UBS

Concurrent Engineering

What is Concurrent Engineering?

Concurrent engineering, often known as simultaneous engineering, is a product development process in which the various stages are completed simultaneously rather than sequentially. It cuts the time it takes to design a product and get it to market, leading to increased production and lower costs.

Concurrent Engineering is a long-term business strategy that pays off in the long run. Although implementation can be difficult at first, the competitive edge implies it will pay off in the long run. It eliminates the need for many designs reworks by fostering an atmosphere where a product can be designed correctly the first time.

Concurrent engineering has a lot of business benefits, thus it’s a good method to use. Concurrent engineering can lead to the following outcomes:

  • Reduced time to market provides organizations with a competitive advantage over their competitors.
  • Early detection of design flaws means possible difficulties can be addressed sooner rather than later in the development process, resulting in increased productivity.
  • Decrease Design and Development Time-create products that meet the needs of their customers in less time and at a lower cost.

Also, See: Benefits realizations

 

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