As per this recent article in Industry week that proclaims that the computer-aided-engineering revolution is here, proper utilization of simulation in New Product Development:

• creates products that are more sustainable and energy efficient,
• enhances performance and ergonomics,
• improves value and affordability,
• provides options for differentiation, and
• considerably reduces NPD timelines as simulations can be created and run much faster than prototypes can be built and tested.

It’s a great article, and simulation is a great counterpart to optimization, which will allow you to optimize costs and supply before the product is finalized.