Implementation of Value Analysis in an Indian Industry: A Case Study

摘要

Value Engineering (VE) and Value Methodology are the two important constituents of Value Analysis. It is a methodical implementation of various tools and techniques by a multidisciplinary team. The team recognizes and categorizes the functions of a product and help in developing the alternative cost effective product with its value. In present day world, each one needs the desired product with best quality within the cost-effective zone. Value Analysis in generally used in automobile sector to maximize the profit by increasing the overall production in plant as well as its demand in the market. So, Value Analysis plays a very important role in maintaining worth of a product in the market. In this paper a case study is discussed showing implementation of Value Analysis principle in sub-assembly hydraulic Jack having a quality issue, used in compression testing machine. Results reveals that after implementing the Value Analysis Principle rejection rate decreased with increased production rate with improved quality of the sub-assembly Hydraulic Jack.