Create or purchase a product or service, sell it for more than it cost, and you have a profit. So why be concerned about anything else.
From 2002 to the present, the government catalogs about 112,500 product recalls. Cost of those recalls? Somewhere in the neighborhood of $150 Billion! The U.S. government has found a new pot of gold – going after companies for product deficiencies. The $900 Million fine levied against General Motors for their switch defect goes to demonstrate the danger in selling a product – any product – to the public. If the government finds something wrong, they get to “extract” as much money as the company can bear to lose.
Will your profits cover your share of those recalls, if you are hit with one? Can you restore customer confidence if you do have a recall? What will you have to spend on marketing and advertising to counter a recall? Could your company survive the experience?
Benjamin Franklyn said it best – An ounce of prevention is worth a pound of cure.
Fundamental Solutions is about that ounce of prevention. With many years of product experience, the staff of Fundamental Solutions looks at a product or service in ways an in-house engineering or development department may not consider. We look at how a consumer will use the product, how the consumer could abuse the product, and where the weak links are. Aside from potential product recalls, customer appreciation and acceptance in a product can ride on smaller things, like a prematurely broken part. Could a well designed and produced item have its’ reputation soiled by a weak plastic part, that could have been strengthened by a 2 cent rib of plastic added to the part?
How about a sharp edge that is accessible to the user? Or a poorly balanced part that caused the item to fall over? Under pressure to develop a product in record time, at minimal budget, an engineering department can do everything right, but still miss the “hit or miss” factor with the item in the marketplace.
Our goal is to find those hit or miss items, so the government can’t turn your company into another pot of gold for them, and consumers won’t damage your reputation by panning a product that is prefect except for one small detail that was overlooked.