Assignment 2.1

"Concurrent Engineering"

 Concurrent engineering can be known as simultaneous engineering. It is a method of designing and developing products in which the different stages run simultaneously rather than consecutively. It decreases product development time and also the time to market, leading to improved productivity and reduced costs. Concurrent engineering can lead to certain benefits such as:

• Competitive Advantage- reduction in time to market means that businesses gain an edge over their competitors.
• Enhanced Productivity- earlier discoveries of design problems means potential issues can be corrected soon, rather than at a later stage in the development process.
• Decrease Design and Development Time- make products which match their customer’s needs, in less time and at a reduced cost.

Concurrent Engineering is a long term business strategy with long term benefits to business. Although initial implementation can be challenging, it bring benefit in the long term. It removes the need to have multiple design reworks, by creating an environment for designing a product right the first time round.

In today's business world, corporations must be able to react to the changing market needs rapidly, effectively, and responsively. They must be able to reduce their time to market and adapt to the changing environments.

Decisions must be made quickly and they must be done right the first time out. Corporations can no longer waits time repeating tasks, thereby prolonging the time it takes to bring new products to market. Therefore, concurrent engineering has emerged as way of bringing rapid solutions to product design and development process.