Fundamentals of customer value

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Fundamentals of customer value

In a free market society, the competitive system demands that every product be produced at the highest possible quality standards while maintaining the lowest possible cost. To achieve this goal, companies must look to the engineering departments within tool manufacturing companies to develop the proper processes and equipment to bring about the best product or tool design.

What is a Broach Tool Designer?

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A broach tool designer is a manufacturing engineer who is concerned with the creation and implementation of the broach tools and associated equipment needed to provide the metal working industry with increased manufacturing productivity while, at the same time, reducing manufacturing costs.

Broach tool design is a specialized area of manufacturing engineering which comprises the analysis, planning, design, manufacture, and use of tools, methods, and procedures necessary for manufacturing productivity.

In order to perform these duties, the broach tool designer must have a working knowledge of machine shop practices, tool making methods, machine tool design, manufacturing procedures and practices, as well as the more conventional engineering disciplines of planning, designing, engineering graphics and drawing, and cost analysis.

Responsibilities and Requirements of the Tool Designer? Broach tool designers are responsible for a wide variety of special tools. Although most of these tools are an end product, some will be designed merely as aids for manufacturing. The broach tool designer must be familiar with the following insofar as they affect the design of broach products and other special cutting tools: Broach Fundamentals of customer value tools Broach tool pullers and holders Metalworking fluids and coolants Gages and other measuring devices Nuts, bolts, and various other fasteners Metallurgy and steel composition Machine tool design Electronics and computers The current size of the company and the number of tool designers will determine the exact duties of each designer.

If many tool designers are employed, each designer may have an area of specialization, such as punch and die design, layout, programming, etc. If there are few tool designers, however, one tool designer may have to cover many areas of tool design.

The Objectives of Tool Design The main objective of broach tool design is to increase the number of parts produced while maintaining quality and lowering tool costs. To this end, the broach tool designer must realize the following objectives or goals: Broach tools will be designed for which quality and reliability can be defined and measured in quantitative terms.

Success Guides

Broach tools will be designed with quality parameters that reflect customer needs and usage conditions. Broach design engineers will provide technical assistance to suppliers and customers for the purpose of promoting tool quality and the quality of the resultant parts.

Broach design engineers will present new products or designs to the market only if the overall quality is superior to that offered by the competition, or if no similar product exists.

Broach design engineers will design tools which reduce manufacturing costs while maintaining the stated quality and reliability objectives. Broach tools will be designed that allow customer production rates to increase while still producing acceptable parts.

Broach tools will be designed that require no or as little as possible special tooling, thus making the tool more cost effective. Broach tools will be designed that are safe to operate. The design process consists of these basic steps: Initial summary of the design problem.

Analysis of the design requirements. Development of preliminary ideas. While these steps are separated for this discussion, in practice each of them actually overlap the others. For example, when stating the problem, the requirements must also be kept in mind to properly define and determine the problem or task to be performed.

Likewise, when determining the initial design ideas, the alternative designs are also developed. So, like many other aspects of manufacturing, broach tool design is actually an ongoing process of creative problem solving.

Fundamentals of customer value

This may simply be an assessment of what the proposed tool is expected to do, such as broach an elongated hole. Or, it may be an actual problem which has been encountered in production where broach tooling may be beneficial, such as low volume production output caused by a bottleneck in a milling operation.

Once the exact extent of the problem has been determined, the problem can be analyzed. Once analyzed, the problem can be resolved throughout the remaining steps of the design process.

Figure shows a method of applying these criteria to the process of choosing a tool design. Rarely, if ever, will one tool design be best in each of the five areas shown.

As you can see in the figure, option A presents the best alternative the highest total provides the best option; the higher the value of each factor, the more appealing that factor is to the customer.

Although option B rates highly in terms of function and quality, the cost and delivery make it prohibitive. The opposite is true for option C. While evaluating this information, the broach tool designer should take notes to insure that nothing is forgotten during the initial evaluation.Fundamental analysis assumes that a stock market price may not reflect a company’s “real” value.

This true value is known as the “instrinsic value” of a stock. The traditional value chain for the US P&U sector is rapidly evolving, largely driven by changing supply and demand fundamentals, rising customer expectations and changing regulatory requirements at the federal and state level.


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Fundamentals of customer value

NOTE: This edition . Inbound is a method of attracting, engaging, and delighting people to grow a business that provides value and builds trust.

As technology shifts, inbound guides a company to do business in a human and helpful inbound approach to doing business is more human and customer-centered. The value the individual consumer places on a product or service becomes the customer value for that offering.

This customer value is weighed against the customer values assigned for similar products and services that would provide a similar benefit.

The CEO guide to customer experience | McKinsey