Putting Cost in Context When Designing Profitable Products

By Keith Mitnik / April 26, 2023

LCD Manufacturing Design

When most companies think of creating profitable products, balancing the price against the costs required to make the product is the usual equation that comes to mind. However, the best way to approach custom LCD design is by recognizing cost’s importance - and then considering it in the context of the overall system level cost. Here’s why.   

1. Quality & Integration Come First

When you design a new product, it’s a mistake to choose parts based on cost alone. If you go that route, you might end up with a part that doesn’t fit your industry or quality expectations. 

Additionally, it’s important to look for how well-integrated a component is. If you pick two displays off the shelf, one might be cheaper but harder to assemble. In such a scenario, the more expensive one that’s easier to assemble may actually result in a lower overall system level product cost. Either way, it’s important to look at a part’s quality and integration first - and then compare prices. 

2. Efficiency Is Key 

Another crucial aspect of designing new products profitably is their efficiency. Design or select a display with the optimal amount of content on it for you. For example, maybe your display needs buttons. If so, it might be easier to have them already on the display than to have them come separately. 

Think through what the most efficient way to build your product is, and prioritize efficiency over cost. After all, taking parts off of your product and putting them on your display will increase the LCD display cost, but will ultimately lower your system level cost. 

3. Choose A Partner Who Does Custom Work 

Finally, if you’re building more than 5,000 parts per year, nine times out of ten you can financially benefit from creating a custom display. When you plan to produce products at these higher volumes, a qualified partner can help you identify ways to bring down your overall cost. 

The right partner can advise you about the size, resolution and technology of your display, when to get rid of or add certain component parts and how to design around your product specifically to increase the efficiency and reduce your overall system level costs. Best of all, they understand the whole picture so won’t sacrifice essentials like quality, and performance in the process. 

Ready to work with a partner who understands LCD displays and how to design profitable products? We’d love to hear from you!

Topics: Quality, Cost, LCD Display