VALUE ADD VALUE ENGINEERING (VAVE)
Value engineering is a systematic method of analyzing the functions of a product or system and identifying ways to improve its performance while reducing costs. It is a tool that can be used at any stage of the product lifecycle, from initial concept development until the product’s end of life.
A PRIMARY TENET OF VALUE ADD VALUE ENGINEERING (VAVE) IS THAT BASIC FUNCTIONS BE PRESERVED AND NOT REDUCED AS A CONSEQUENCE OF PURSUING VALUE IMPROVEMENTS.
This applies to a wide range of industries, including the electronic industry.
In this context, Value Add Value Engineering can help improve the quality and performance and reduce the cost of electronic products by utilizing a structured approach to identify and eliminate unnecessary costs while maintaining or improving function.
THE EVALUATION
To begin the Value Add Value Engineering (VAVE) process, a team of experts is assembled to evaluate the electronic product in question. This team typically includes individuals with diverse skills and expertise, such as design engineers, manufacturing engineers, purchasing agents, and financial analysts.
The first step in the Value Add Value Engineering process is to define the product’s basic functions. These are the fundamental tasks that the product must be able to perform to meet the customer’s needs. It is important to clearly identify and understand these basic functions, as they will serve as the foundation for all subsequent value improvement efforts.
ONCE THE BASIC FUNCTIONS HAVE BEEN DEFINED, THE VAVE TEAM CAN THEN PROCEED TO IDENTIFY AND EVALUATE THE COMPONENTS, MATERIALS, AND PROCESSES USED TO PRODUCE THE ELECTRONIC PRODUCT.
This evaluation aims to identify unnecessary or non-value-added elements and determine how these can be eliminated or replaced with more cost-effective alternatives without compromising the product’s basic functions.
For example, the team may determine that a particular component is excessively expensive or complex and that a simpler, less expensive alternative can be used without sacrificing performance.
In other cases, the team may identify opportunities to streamline the manufacturing process, reduce waste, or improve quality control, which can help to reduce costs while maintaining or improving the product’s performance.
In addition to identifying specific cost-saving opportunities, the value engineering team may also explore the potential for innovation and improvement. This may involve redesigning the product to incorporate new technologies, and materials or to enhance its performance or functionality.
BY CONTINUOUSLY SEEKING OUT NEW WAYS TO IMPROVE THE PRODUCT'S VALUE, THE TEAM CAN HELP ENSURE THAT THE PRODUCT REMAINS COMPETITIVE IN THE MARKETPLACE.
One specific way in which Value Add Value Engineering team can help improve the quality and performance and reduce the cost of electronic products is through the use of modular design. Modular design involves breaking down a complex product into a series of smaller, interchangeable modules or components.
This allows for easier customization, more efficient manufacturing and assembly, and improved repair and maintenance. Modular design can reduce the cost of the product by allowing manufacturers to reuse certain modules across different product lines or to substitute less expensive modules without sacrificing performance.
ANOTHER WAY IS THE USE OF ADVANCED MANUFACTURING TECHNOLOGIES.
These technologies, such as 3D printing and robotics, can help to improve the precision and accuracy of the manufacturing process, resulting in higher quality products and reduced waste. Additionally, advanced manufacturing can help reduce production costs by increasing efficiency and productivity.
Conclusion
The traditional method of value engineering where the focus is on cost reduction is no longer adequate in meeting the needs of modern world. Instead, a new approach like Value Add Value Engineering must be adopted. This method takes into account not only the cost of a project, but also the benefits that it can bring.
Value Add Value Engineering can be a powerful tool for improving quality and performance and reducing the cost of electronic products. By using a structured, systematic approach to identify and eliminate unnecessary costs while maintaining or improving the product’s basic functions, Value Add Value Engineering can help enhance the product’s value and ensure its long-term success in the market.
There are many advantages to value add engineering. Perhaps most importantly, it allows for a more holistic view of a project. By taking into account both the costs and benefits, decision makers can make more informed choices about whether or not to proceed with a particular venture This approach can lead to improved project outcomes. By understanding the potential benefits of a project, engineers can work to ensure that these benefits are realized.
If you have a product that needs improvement or cost reduction, get in touch, and I will set you up with a VAVE specialist to talk.