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Component Cost Reduction by Value Engineering: A Case Study

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The concept value engineering (VE) acts to increase the value of a product through the improvement in existent functions without increasing their costs. In other words, VE is a function… Click to show full abstract

The concept value engineering (VE) acts to increase the value of a product through the improvement in existent functions without increasing their costs. In other words, VE is a function oriented, systematic team approach study to provide value in a product, system or service. The authors systematically explore VE through the six step framework proposed by SAVE and a case study is presented to address the concern of reduction in cost without compromising the function of a hydraulic steering cylinder through the aforementioned VE framework.

Keywords: value engineering; reduction; value; case study

Journal Title: Journal of The Institution of Engineers (India): Series C
Year Published: 2017

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