The Use of Advanced Manufacturing Technology to Reduce Product Cost

The rapid development of new technologies has led to a change in the ways of manufacturing in industrial organizations. As a result of this development, many companies and factories started to look for new forms of organizational structure and the implementation of new technologies in their manufacturing process. In this context, the CAD/CAM/CAE systems play a crucial role in the process of manufacturing and generally in the transition to digital manufacturing, as the basis of a new industrial revolution. This paper presents the application of new technologies in a product life-cycle, namely the application of an advanced CAD/CAM/CAE system to support the organizational lean manufacturing initiative of SMMEs in Kosovo as a means to achieve world-class performance. Two case studies have been completed, one on the advantages of applying the CAD/CAM system in product development and the second by applying traditional manufacturing. A further aim of this present paper is to bring initiatives to the collaborative environment and to bridge the gap between industry and educational institutions.