The last decade has seen a surge of inventors and start-ups whose products never made it past the drawing stage. For context, McKinsey Global Institute estimates that approximately 25-45% of new products fail.
Most of the products lack technical feasibility and commercial viability that can be ascertained by product design service companies. Manufacturing engineering companies can reduce your cost, save time, and meet your goals by helping you design a workable, sellable product concept.
What to Consider When Hiring a Product Design Consulting Firm
Product development from concept to reality is a tough process that demands a lot of initial investment. Concept design companies play a critical role in product design, testing, prototyping, design documentation, and production. Find a reliable partner as early as possible to avoid wasting time and money. The product design consulting firms can inform you if the concept is viable and the feasibility in system engineering.
Here are some of the factors to consider when choosing product design service companies.
The best method to analyze the suitability of different product development firms is to analyze their portfolio. The various case studies can help you decide their caliber of product design concepts. Find out how many products they have taken to market. Analyze the different concept executions and see if they align with the vision for your product.
2. Understand Your Design Needs
What are your product goals? What are the challenges you intend to solve with the product design consulting firm? Be clear on the service level you need as it helps improve accuracy and time savings during the process. Some companies focus on the technical feasibility of the concept, while others specialize in user-experience. Try and settle for product design service companies with a delicate balance of both.
The best firms attract a pool of designers and engineers with a diverse set of skills in product development. The broad range of backgrounds ensures that the company has the necessary expertise to nurture your idea from concept to market launch. Evaluate the capabilities of members allocated to your project. Additionally, the firm’s networks can link you to material and equipment suppliers, safety compliance, and contract manufacturers.
The depth and interdependence of different stages during the product design process determine the final time and cost invested. Conduct an in-house audit to examine your company’s capability in product development. The assessment may help indicate the level of design you need to outsource. New products may require firms robust in research and idealization of the concepts.
5. Point of Contact
Communication is a critical element during the concept design process. Your relationship with the product development firm may determine the success of your project. Whenever possible, go for firms that allow you to establish a single point of contact between you and the company. It helps to streamline communication and create synergy between the different teams working on the idea.
There is no better way of understanding the firm’s work ethic than talking to past clients. Client’s testimonials may paint a picture of how your relationship may turn out to be. Repeat clients may be a sign of professionalism and satisfaction with the quality of work done. Call and interview as many companies as you can.
Product development is a hectic and treacherous journey. Hiring product design companies can help you execute your new idea from concept to taking the product to the market. For more information on how manufacturing engineering companies can position your project to success, contact Porticos.