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Simulation: Seeing Beyond the Tech Benefits

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E L I T E C H A N N E L PA R T N E R simulation@rand.com | RandSIM.com | 888.483.0674 Simulation Software as a Marketing Tool Is your company already using simulation software to reduce the cost of product development? Are you developing a business case recommending simulation software? Knowing the benefits beyond early-stage design optimization can help you get more out of your software investment and present a stronger case. In this article, we share three major ways customers are using simulation software to win more business by improving their strategic marketing. For more information, watch this recorded webinar. Quick Overview – The Main Point of Simulation Software Simulation software allows engineers to test their designs in a virtual environment, dramatically increasing design robustness and reducing physical testing costs. In the sample workstreams illustrated below, we see that although adding simulation support adds a few days of upfront work and additional cost in Example 2, it leads to an overall 29% decrease in validation costs and a 39% time savings over Example 1. WHITEPAPER Example 1 Cost of testing without simulation support: 3 tests, 3 days each plus reporting time Total: $51,600 and 18 days Engineering Labor ($7200) Additional 8 hours for reporting results 2 Test Engineers (~$150/hr) Material ($10,000) 1 Prototype 1 Physical Test (16 Hours) • 3 Physical Tests » $17,200 each » 3 days each • Total Cost: $51,600 • Total Test Plan: 18 days

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