Your Return on Investment with Creo Simulation Live

Written By: Cat McClintock
  • 12/12/2019
  • Read Time : 2 min.
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When PTC first rolled out Creo Simulation Live, product designers and engineers flocked to see demonstrations and live webinars. Many even tried evaluations. Everyone wanted to see how the breakthrough technology would work on real designs under real-world conditions. And while the software delivered on its promise to provide instant design feedback, one question remained. “How would this new approach to product development impact the bottom line—if at all?”

For those thinking about due diligence, here are some key questions you'll want to think about plus a sample return on investment (ROI) calculation to get you started. 

4 Questions to Ask When Evaluating Real-Time Design Guidance

If you’re trying to quantify how Creo Simulation Live will bring value to your company, explore the following questions:

  1. How much would you save if you reduced yearly material costs by 5%? With Creo Simulation Live, engineers can quickly optimize material use as they design. The software evaluates design changes in “about the time it takes to take a sip of coffee.” So it’s easy to narrow in on the perfect size or thickness of that strut or a heat sink.
  2. How much would a 10% reduction in rework hours save? Creo Simulation Live can identify issues early, so engineers can find potential problems when they are less costly to fix. That means less rework and fewer surprises later.
  3. How much would you save if you cut the number of prototypes built by 10%? Physical prototypes play an important role in all product development, but they’re also a very expensive way to find out you’ve got a product design issue. With Creo Simulation Live, design engineers can find and resolve simple mechanical problems well before prototyping, so the physical models are more likely to succeed the first time.
  4. How much would you save if you reduced the number of design/analysis cycles by one, two, or more? Creo Simulation Live doesn’t replace traditional simulation, but it can ensure your analysts receive more sound designs in the first place. That means less back and forth between departments, perhaps saving you weeks in getting your product to market.

Calculate ROI for Creo Simulation Live

Need more concrete numbers? A line by line approach may be useful. This helps you see quickly what costs you can expect and where you might save. Here’s an example in which we considered rework as well as costs for material prototyping, service, warranty, and repairs. For most, it doesn’t take long to recoup your investment:

Creo Simulation Live return on investment calculation. 

Will Your Company Benefit?

Does Creo Simulation Live pay for itself? That depends on your company, your processes, and your team. Every situation is unique. But the above questions and sample calculations can serve as a guide to see if you’ll benefit from this ground-breaking software.

Learn more about Creo Simulation Live.

 

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About the Author

Cat McClintock

Cat McClintock edits the Creo and Mathcad blogs for PTC.  She has been a writer and editor for 15+ years,  working for CAD, PDM, ERP, and CRM software companies. Prior to that, she edited science journals for an academic publisher and aligned optical assemblies for a medical device manufacturer. She holds degrees in Technical Journalism, Classics, and Electro-Optics. She loves talking to PTC customers and learning about the interesting work they're doing and the innovative ways they use the software.

Your Return on Investment with Creo Simulation Live
How does real-time design guidance with Creo Simulation Live impact the bottom line, if at all? Review these questions and calculations.