Use of VE for Productivity and Cost Optimization of a Product

Value engineering and its various stages are a fundamental concept used in industry to eliminate unnecessary processes and hence increase company''s productivity. This will help industry to maximize profit and minimize the product cost. Competition in the industrial sector has increased day by day in the last decade where manufacturing companies needs to continually improve the production lines and product design. Nowadays production is increased due to an increase in the need for goods so the idea of reducing the total manufacturing cost of products and also reducing the amount of their wastage like part scrap quality issue and other rejection of product is the necessity. In this book value engineering and value analysis is applied on metal cutting band saw machine to improve the productivity without affecting the quality of the product.