VE Study for Manufacturing

Value engineering (VE) is a systematic method 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. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements


Objective:
• To reduce the cost of manufacturing
• To improve procurement lead time.
• To improve response time to meet customer requirement
• To increase capacity utilization of bottleneck machines (Headers).• To meet key customers compliance (satisfaction) like Maruti, Hero Honda, Telco

VE follows a structured thought process to evaluate options as follows.

Gather information

1.What is being done now?
Who is doing it?
What could it do?
What must it not do?
Measure

2.How will the alternatives be measured?

What are the alternate ways of meeting requirements?
What else can perform the desired function?
Analyze

3.What must be done?

What does it cost?
Generate

4.What else will do the job?

Evaluate

5.Which Ideas are the best?

6. Develop and expand ideasWhat are the impacts?
What is the cost?
What is the performance?

7.Present ideas