Adding value in lean times

Lots of companies are reducing costs but adding value is still crucial

Not so long ago, the agenda in manufacturing companies would often largely focus on cost reduction, with little emphasis on ‘adding value’. Clearly, minimising costs is extremely important – but it does have limits. Cost reduction is often fairly easy at the start of the process, but even with lean strategies it becomes harder and harder and the benefit reduces. More recently, a question we are increasingly hearing at Design Futures is ‘how can we add value to our products?’

If you think about what’s important to consumers when they buy a product and what they value once they own it, they are things like how the product feels, how it looks, how well it performs, how easily users can interact with it… These are all areas that can offer plenty of potential opportunities for design to be used to add value.

For example, the way a product looks influences how desirable it is, what it ‘says’ about the owner and often whether it is perceived as ‘fit for purpose’. Another key area is usability. People want products that they can use intuitively, they won’t tolerate products that are frustrating to use anymore.

Good product design can have a considerable impact here too, by ensuring products are more effective, more comfortable, and safer to use.
So how can you ‘add value’? For us, the best way for organisations to create added value that is relevant to their customers is to combine an open-minded and inventive attitude with real insight into what makes their customers tick. When we undertake projects, we try to experience the product from the perspective of the user - with the aim of discovering previously unexpressed needs that can lead to new ways to add value. It’s worth remembering that this kind of customer driven approach can add value in ways that don’t just rely on technological advances. You only need to look at Apple to see how ‘design for people’ and usability can be sexy and profitable… but it works across most sectors.

Is it affordable? Adding value doesn’t always mean embarking on a complete new product development programme. Often, a great deal can be achieved with modest investment. By being smart and looking at a few key areas where small changes can be carried out, a company can effectively extend an existing product’s life.