Mechanical engineers must consider economic factors when designing products from "summary" of Mechanical Engineering Principles by John Bird,Carl Ross,
When designing products, mechanical engineers must take into account various economic factors in order to ensure the success of the product in the market. These economic factors play a crucial role in determining the overall cost of the product, which ultimately affects its competitiveness and profitability. By considering these factors during the design process, engineers can make informed decisions that will help to optimize the cost of production and maximize the value of the product. One of the key economic factors that engineers must consider is the cost of materials. The choice of materials used in a product can have a significant impact on its overall cost, as different materials come with varying price tags. By selecting cost-effective materials that meet the required specifications and performance criteria, engineers can help to minimize the cost of production while still ensuring that the product meets the necessary quality standards. In addition to materials costs, engineers must also consider the cost of manufacturing processes when designing products. Different manufacturing processes come with different costs, and engineers must weigh these costs against factors such as production volume, lead times, and quality requirements. By selecting the most cost-effective manufacturing processes for a given product, engineers can help to reduce production costs and improve the overall profitability of the product. Furthermore, engineers must also take into account the cost of labor when designing products. Labor costs can vary significantly depending on factors such as location, skill level, and production volume. By optimizing the design of a product to minimize the amount of labor required for production, engineers can help to reduce labor costs and improve the overall efficiency of the manufacturing process.- By considering these and other economic factors during the design process, mechanical engineers can help to ensure that the products they develop are not only technically sound but also commercially viable. By striking the right balance between technical requirements and economic considerations, engineers can create products that are not only competitive in the market but also profitable for the companies that produce them.
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