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VALUE ANALYSIS/VALUE ANALYSIS/
VALUE ENGINEERINGVALUE ENGINEERING
Value analysis & Value Value analysis & Value EngineeringEngineeringValue analysis & Value engineering can Value analysis & Value engineering can
be defined as an organised approach to be defined as an organised approach to provide the required function at the provide the required function at the lowest cost consistent with specific lowest cost consistent with specific performance, quality & reliabilityperformance, quality & reliability
Value analysis pertains to the existing Value analysis pertains to the existing product & services whereas value product & services whereas value engineering is concerned to the design of engineering is concerned to the design of new products new products
Features of value analysisFeatures of value analysisValue analysis team is a cross-functional Value analysis team is a cross-functional
teamteamThe value can be increased in three waysThe value can be increased in three ways
Retain the value but reduce the costRetain the value but reduce the costRetain the cost but increase the valueRetain the cost but increase the valueIncrease the cost if necessary, but increase Increase the cost if necessary, but increase
the value much more than the cost the value much more than the cost
Concept of valueConcept of valueUse valueUse value
Fitness for useFitness for useKnown as primary or the basic value of the Known as primary or the basic value of the
productproductEsteem valueEsteem value
Enhanced value associated with a brand or Enhanced value associated with a brand or a product created by smart marketersa product created by smart marketers
Known as secondary valueKnown as secondary value
Steps in value analysisSteps in value analysisCollect data about cost function, customer Collect data about cost function, customer
needs, history and likely future developments needs, history and likely future developments related to the product & its userelated to the product & its use
Develop the alternative designs. The selected Develop the alternative designs. The selected alternatives should be able to fulfill the alternatives should be able to fulfill the functional requirement of the product as functional requirement of the product as detailed abovedetailed above
Ascertain the cost of alternativesAscertain the cost of alternativesEvaluate the alternativesEvaluate the alternativesRecommend and implement the best solutionRecommend and implement the best solution
Factors influencing the product Factors influencing the product design or redesigndesign or redesignCustomer’s perspectivesCustomer’s perspectives
FunctionsFunctionsAestheticsAestheticsUser friendlinessUser friendlinessEsteem associated with possessionEsteem associated with possession
Organizational perspectiveOrganizational perspectiveIntrinsic cost of materialIntrinsic cost of materialIntrinsic cost of labourIntrinsic cost of labourReplacement, exchange and disposalReplacement, exchange and disposal
Methods of value analysisEliminate parts in operationEliminate parts in operationSimplify parts in operationSimplify parts in operationSubstitute alternative materialsSubstitute alternative materialsUse standard parts in materialsUse standard parts in materialsRelax manufacturing tolerancesRelax manufacturing tolerancesUse standard manufacturing partsUse standard manufacturing partsEliminate unnecessary design featuresEliminate unnecessary design featuresChange design to suit manufacturingChange design to suit manufacturingBuy if cheap than makeBuy if cheap than make
continuescontinuesUse pre-finished materialsUse pre-finished materialsUse pre-fabricated partsUse pre-fabricated partsRationalize product rangeRationalize product rangeSubstitute labour cost manufacturing Substitute labour cost manufacturing
processprocessRationalize and standardize low cost Rationalize and standardize low cost
purchased partspurchased partsEliminate material wasteEliminate material waste
Value analysis-areas of Value analysis-areas of improvementimprovementFunctionsFunctions
Details of the basic functionsDetails of the basic functionsDetails of secondary functionsDetails of secondary functionsAre all the functions necessary?Are all the functions necessary?Substitute the factorsSubstitute the factorsCombination of the factorsCombination of the factors
MaterialsMaterialsWhat materials are used?What materials are used?Look for alternative materialsLook for alternative materialsReduction in waste materialsReduction in waste materials
continuesStandardization of materialsStandardization of materialsUse of cheaper and better substitute Use of cheaper and better substitute
materialsmaterialsPrice of materialsPrice of materialsMake or buy decisionMake or buy decision
ManufacturingManufacturingDefine operationsDefine operationsCan it be eliminated?Can it be eliminated?Can it be substituted?Can it be substituted?Can it be simplified?Can it be simplified?
continuesCan it be standardized?Can it be standardized?Can standard tools be used?Can standard tools be used?Can pre-fabricated parts be used?Can pre-fabricated parts be used?Make or buy the partsMake or buy the parts
SpecificationsSpecificationsDefine specificationsDefine specificationsCan dimensions be reducedCan dimensions be reducedAre the parts oversized?Are the parts oversized?Are tolerances very close?Are tolerances very close?Can tolerances be increased?Can tolerances be increased?What type of finish is required?What type of finish is required?Are finish standards essential?Are finish standards essential?
Phases of value engineeringPhases of value engineeringOrientationOrientationInformationInformationFunctionalFunctionalSpeculation/CreationSpeculation/CreationEvaluation/AnalysisEvaluation/AnalysisRecommendationRecommendationImplementationImplementationAudit/Follow-upAudit/Follow-up
Salient aspectsSalient aspectsMaterial substitutionMaterial substitution(DFM) Design For Manufacturing(DFM) Design For ManufacturingModularityModularityProduct improvement thro QFDProduct improvement thro QFDEnergy efficiency.Energy efficiency.Cost optimisationCost optimisationModern version of VE is Lean Modern version of VE is Lean
manufacturing, BPR TQM manufacturing, BPR TQM
examplesPCB surface mounted design to avoid PCB surface mounted design to avoid
drilling drilling Don’t grind inside metal boxDon’t grind inside metal box Japanese Disc brakes .Only required Japanese Disc brakes .Only required
tolerance in specification is given < 3 tolerance in specification is given < 3 mm; Not More. Hence with crude SPC, < mm; Not More. Hence with crude SPC, < one in million parts will fail to fit.one in million parts will fail to fit.
Reducing fasteners. Use Plastic push fit Reducing fasteners. Use Plastic push fit fastening.fastening.
Replacing metal castings/pressed items Replacing metal castings/pressed items with plastic injection moulded parts. Ex: with plastic injection moulded parts. Ex: dash board in a car made of plastic dash board in a car made of plastic material .material .
SEVEN WASTESSEVEN WASTESOverproductionOverproductionWaitingWaitingTransportingTransportingInappropriate processing (poor process Inappropriate processing (poor process
capability) capability) Unnecessary inventoryUnnecessary inventoryUnnecessary motionUnnecessary motionDefectsDefects