Describe the term ‘economic feasibility’, ‘recycobility’ and ‘evaluation of design’?

on January 10, 2019 Fundamentals of Design and Manufacturing 1 comment

Economic feasibility:-

Economic feasibility: The design term, often with the support of a financial analyst, build an economic model for the new product. This model is used to justify continuation of the overall development program and to resolve specific trade-offs among, for example, development costs and manufacturing costs. While economic analysis is shown as one of the later activities in the concept development phase, an early economic analysis will almost always be performed before the project even begins.

Recyclability: Pollution control and resource conservation can both be achieved by recycling, i.e., making usable goods out of things that would otherwise become garbage or waste. The level and extent of recycling are determined by economic factors. As the quality of ores dwindles and the cost of land filling increases, recycling is likely to increase and become the ultimate solution. Other factors include tax credits, consumer attitude, cost of pollution control, cost of collection and transportation. Paper wastes may be used as fuel for power generation or as raw material for recycled paper; the scraps from metal stamping are remelted; the chips from lumber processing are made into reconstituted materials; the sprues and runners of thermoplastic parts are usually ground and mixed with virgin materials; old ships can be converted into steel bars for use in reinforced concrete.

Design for recycling encompasses several ideas:
1)     Recycling by repair
2)     Recycling by conversion
3)     Design for easy separation
4) Allowing for contamination

Products can be recycled as a whole or as a functional subassemblies.Many products can be recycled by conversion. At the end of their intended functions, they are used for another purpose.
Use of biotechnology in recent times has made possible to convert many waste products into useful products. So design engineer can consider the same during the work.

Evaluation of design: After a prototypes is made, it should be studied carefully to make sure that it can be manufactured. Economic considerations at this stage become critical to the future success of the product. The most pertinent economic considerations are those concerned with the realities of the market which regulates the production and distribution of goods. Thus a designer must keep the following constraints in mind.

i. The total market for the product.

ii.That portion of the total market which might demand a product like the one being designed.

iii.That portion of the total market which might demand the particular design developed (market penetration).

iv.The price at which competitive products are being sold.

v.The basic price/sales relation of the product.

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