What are feasibility and cost studies? Feasibility studies are the review and trial run of new product designs or upgrades made to an existing part. These additions and changes need to be proved out in the process where they will be manufactured in order to determine the level of their manufacturability and quality. A cost study is the review of what changes will need to be made to the line to accommodate the new product, thus determining whether the production of the new part is viable cost-wise.

Each new product design or revised product design must withstand many reviews by different parties / levels in the manufacturing industry. The concepts must be reviewed, tested, and accepted per their design requirements. Once this is complete, the manufacturing site must review the concepts and determine whether they are feasible to manufacture within their process.

The cost study will review the feasibility of manufacturing of the new product to determine what additional costs are needed for operating, whether they are to upgrade existing equipment, implement a new station, add an operator, etc. Cost studies also include the review of added material and handling costs. All factors of manufacturing the new part will be reviewed to determine the overall costs associated with making the new part / launching a new process.

Feasibility is determined once all aspects of part manufacturing for each individual concept is reviewed, tested and accepted by the manufacturing personnel. they will look at manufacturability with respect to operator intervention, safety, ergonomics, what new types of, or changes to existing, tooling, equipment, or machinery will need to be implemented, new process or use existing, and the results from the cost study.

Once the concepts are deemed feasible, the new products must be made and trials scheduled to determine actual manufacturability. The number of trial parts, their levels, and the run-at-rate information must be known so that proper scheduling of the feasibility studies can be carried out effectively and the proper personnel involvement is present. Trials are then conducted and if the quality of the final product output is acceptable, the new product is deemed feasible to manufacture.

Final testing of these parts and large batch runs must also be conducted before the product can reach the customer. This is all a part of the Advanced Product Quality Planning (APQP) and Production Part Approval Process (PPAP) quality initiatives.

MEDA Limited has vast experience in organizing, implementing, and reporting on feasibility studies. We have diverse experience in a number of manufacturing industries. We can provide cost study or feasibility services project / turnkey style or let us train your people on the steps to take to perform the studies and what types of online trial reviews and quality documentation are necessary to ensure full quality compliance.

For a broad overview of our services and how we can implement them, please see our Services and Solutions page.