Value Engineering (VE) is concerned with new products. It is applied during product development. The focus is on reducing costs, improving function or both, by way of teamwork-based product evaluation and analysis. This takes place before any capital is invested in tooling, plant or equipment. This is very significant, because according to many reports, up to 80% of a product’s costs (throughout the rest of its life-cycle), are locked in at the design development stage. This is understandable when we consider the design of any product determines many factors, such as tooling, plant and equipment, labour and skills, training costs, materials, shipping, installation, maintenance, as well as decommissioning and recycle costs. Therefore value engineering should be considered a crucial activity late on in the product development process and is certainly a wise commercial investment, about the time it takes. It is strongly recommended to build value engineering into new product development process, to make it more robust and for sound commercial reasons.
Value Analysis (VA) is concerned with existing products. It involves a current product being analysed and evaluated by a team, to reduce costs, improve product function or both. Value Analysis exercises use a plan which step-by-step, methodically evaluates the product in a range of areas. These include costs, function, alternative components and design aspects such as ease of manufacture and assembly. A significant part of VA is a technique called Functional Analysis, where the product is broken down and reviewed as several of assemblies. Here, the function is identified and defined for each product assembly. Costs are also assigned to each one. This is assisted by designing and viewing products as assemblies (or modules). As with VE, VA is a group activity that involves brainstorming improvements and alternatives to improve the value of the product, to the customer.
We provide value engineering services which aimed to identify and eliminate high cost areas in the value chain, ensuring a balance between efficient use of resources and decreased operating costs. Partnering with engineering clients to integrate value engineering strategies across entire value chain, we help drive down costs and enhance value for product development, production processes and supply chains.
In the value management process our value engineering team works closely with designers and stakeholders to ensure appropriateness and accuracy in information, which in turn helps in improving the operational efficiency of the value analysis & value engineering. Our team to excellence in providing value engineering services is possible due to our well-equipped engineering facility, and a team of VE specialists to develop cost-effective strategies for our clients. Additionally, we also involve industry experts to address problems across different domains more comprehensively. Reduction in quicker upgrades / versions of products through reverse engineering and rapid prototyping.
We offer skills in a very wide range of value analysis & value engineering to cover the most specific needs. We have, over the years acquired the best of skills and developed processes and tools, to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. We strive for the best of your expectations of value & quality in any field of product engineering.