Over the past three decades the concept of design and development had evolved and changed a lot with the raising level of science and technology and also with the impact of globalization. Many organizations, small and large have a traditional design and development concept, where a product is designed from its conceptual stage and working on a long term plans for the product. The impact of globalization on business has forced most industries to become more innovative and implement newer strategies to retain market leadership and growth with the desired profitability. The retention of corporate engineering knowledge and rules is also critical because of the aging workforce. Engineering and design move hand in hand, they are both synonymous and synchronous. Engineering design is one of the most intellectual challenges in the fast changing world. The concept of Knowledge Based Engineering and Axiomatic design is used as the means of being competitive in the industry by meeting all the functional requirements of what a customer needs in a product. Axiomatic design is used to show that the design is done using fundamental sets of principles which would make an efficient design and use of Knowledge Based engineering is a concept that would allow the retention of corporate knowledge as initiate-level engineers and designers enter the workforce. In this paper, authors discuss about the two concepts which involves designing a plastic drum that is used to store lubricants.
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