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Implement Value Engineering To Maximize ROI
It is a systematic method to enhance the value of product/service by a functional analysis. Since the term value is defined as the ratio of function to cost, it could be comprehensively increased by either increasing the function or reducing the cost.
In simple terms, Value Engineering can be defined as an organised effort to produce/process products/services in a cost effective manner by using less expensive elements and also identifying and eliminating the areas/processes where unnecessary costs are involved by redesigning those areas. We are offering this service to clients who are eagerly striving to differentiate their products and services from competitors. As improving quality, eliminating cost and driving efficiency are the mantra for attaining growth in a business; we can assist you in improving processes and achieving organizational excellence. Equipping right tools allows in achieving expected results. Integrate improvement programs in the different functional levels of the organization and ensure that you are on the right path of growth.
Value Engineering comprises of seven stages, information gathering, measurement, analysis, generation, evaluation, expansion of ideas and presentation. Our experienced team can help your organization in attaining impressive growth prospects with the implementation of process management tools and quality management tools in the right manner.
As like many other modern business improvement models, Value Engineering also is applicable to all the areas/processes of business organization where there is a feeling exist that further improvement is feasible. Areas like manufacturing, financial process, product development, customer service etc are some of the business processes where we can find extreme application of Value Engineering.
- Value Engineering helps to achieve an improved product design quality.
- It suggests eliminating the unnecessary functions in the organization that increases cost.
- Value Engineering enhances customer satisfaction by determining the exact needs and expectations of customers.
- Value Engineering provides competitive advantage to the firms in the areas of product quality, costs and customer satisfaction.
- High level of standardisation is achieved, thereby reducing the cost element.