Value Analysis / Value Engineering (VA/VE)
Developed by General Electric in the 1940’s, Value Analysis (VA) supports the product development process concerning existing products. Value Analysis is the team based and methodical evaluation of an existing product in a broad range of areas of the process including current manufacturing process, functionality, cost and design.
This process requires each of these components to be thoroughly evaluated and scrutinized in order to obtain decreased costs, increased profit, improved quality, function and performance, and most importantly improved customer satisfaction.
Value Engineering supports the product development process concerning new products. Value Engineering (VE) requires a team based product evaluation prior to capital investment in people, plant, equipment or tooling. Through this process our clients can expect outputs in the form of decreased costs, increased profit, improved quality, function and performance, and most importantly improved customer satisfaction.
Value Engineering supports the product development process by building value into the process. This value is gained by prioritizing customer needs while fully utilizing an organizations current capacity and capabilities. Driven by customer input, Value Engineering can help control the scope of the design process and help utilize capital investment most efficiently.