Webinar Description: Materials Selection and Consideration of Externalities
Join us on this third part of the 5-week product development webinar series to learn about how to lower your product development costs.
Learn how access to a material selection database can be used to quickly identify the right materials for your products for the appropriate analyses.
Then, take the appropriate materials of your product and use it in your product model for structural simulation analyses.
Materials Selection | Emphasis on Structural and Design Optimization
Using interactive, visible, simple-to-understand technologies can significantly improve the quality of basic engineering ideas being taught online or in-person.
The correct information and decision-making tools should be used in design projects from the first stages of development all the way through prototype.
Learn how Ansys Granta EduPack, the program specifically designed for choosing educational resources, integrates with Ansys Discovery, the company’s newest tool for simulation-driven design, in this webinar.
We shall discuss the advantages of integrating the two using the design for a footbridge: Students are better prepared to select materials and comprehend how structural and material choices affect the design process.
Ansys Discovery Webinar | Benefits and Practical Application
What you will discover
- Ansys Granta EduPack and Ansys Discovery’s fundamental features
- How to utilize Ansys Granta EduPack to do basic materials selection and apply the results to a straightforward structural problem
- How to use Ansys Discovery to help the teaching of structural and design concepts
Who should register?
- Teachers of engineering design, materials science, or civil engineering should learn how to motivate their students to comprehend how structural and material choices affect the design process.
Economics & Engineering | The Impact of Externalities
Now that we’ve covered the engineering considerations, it is also crucial to consider the economic implications of structural design. Engineers wishing to advance to the managerial level or higher will need these critical integrative skills (engineering & economics).
Consider the last time you made a purchase or pondered making a purchase, even if it was for something tiny and relatively insignificant. Then, I want you to reflect on the reasons behind your choice. Have you used the funds or not? What drove you to do this? What aspect(s) did you take into account? I’ll follow suit.
When I was an engineer writing this, the final item I had in mind to purchase was a tiny table from a used furniture shop (true story). For a time now, I’ve been in need of (well, wanting) a small table for my front porch. I thought this table was attractive and somewhat original.
The fact that it was a used item and that my purchase helped a charitable cause pleased me. I took into account the fact that I had my dog in the car and was driving somewhere else, and I needed to be able to fit the table inside without crowding the dog or endangering his safety.
I also thought about how the rest of my family, especially my wife, would feel about it. Of course, I also gave consideration to the cost ($15). All of this was taken into account before I bought the table.
This is a brief illustration of the underlying idea that underlies the economic system that we have been employing for more than 150 years. Specifically, that consumers consider their own costs and benefits in light of the information at their disposal before making purchases. In an ideal scenario, customers are fully informed about a product, its advantages, and how it differs from competing goods. (In general, this is not an acceptable set of assumptions, but that’s a different subject that we will cover later in this course.) All of these factors add up to the good’s private benefit, which economists refer to as the good’s utility.
The Price of Inconvenience | A Consideration for Engineers
Now, they also take into account the private cost, which at the very least comprises the cost… but might also contain additional elements, such as inconvenience. Most people would assume that this method is just common sense, and it is most likely this way of thinking that determined whether you decided to buy or not buy the item you were considering in the thought experiment above.
This deal has another side to it. Whoever made the offer to sell you the item almost definitely chose the price in order to at least maximize their profit (or at least make a profit). Once more, this is logical and typical of how corporations operate. There is a delicate balance to be struck between what customers desire, the “going price,” how much it costs the company to buy and sell it, and other factors.
There is nothing wrong with being at least partially driven by profit; after all, a company won’t last very long if it does not generate revenue. As a result of the table being given, the business’s employment of volunteers as part of its workforce, tax benefits associated with its status as a non-profit, and other factors, the vendor from whom I bought the table was able to offer a very cheap price.
Perhaps you’re thinking if there is any purpose to this, as it relates to engineering. Can you think of anything that this equation might be missing? Are there any expenses or benefits that were not considered in the decision-making process? Consider that, retain that notion, then register for this webinar!