Value Engineering / Product Optimization
The objective of product optimization is to reduce total product cost without affecting its functionality, sometimes improving certain features and functions. SSA has implemented cost reduction strategies in variety of industries, and help them to reduce total production cost and improve profitability.
Why product Optimization
Cost and Quality are two key factors that determines where do you stand in competitive market. Product cost reduction uses set of techniques and tools in order to identify potential problems and preventive measures prior to manufacturing, to ensure that desired goals are met.
Product cost optimization methods
SSA works with organizations during their New Product Development (NPD) lifecycle in either of the below scenarios to enable product cost reduction:
- Introduction of new products
Development of a new product begins with a new idea or understanding unmet market requirements. At SSA Techknowlogies, we use methodologies & tools of Design for six sigma (DFSS) in order to achieve optimal cost. DFSS with IDOV (Identify, Design, Optimize and Verify) approach focuses on innovation for new improved functions / component designs, optimal design in product tolerance & process variation, and leads to improved profitability. - Improvement of existing products using Value Engineering
Improvement in design of existing products starts with getting customer feedback (VOC) data and analyzing & identifying factors to improve. Value Engineering or value analysis (VE/VA) are the techniques used to improve functionality and reduce cost by eliminating unnecessary functions of a product. At SSA Techknowlogies, we apply DMADV (Define, Measure, Analyze, Design and Verify) approach of DFSS along with the VA/VE (Value Engineering) principles. Reliability engineering focuses on increasing product life and reduces warranty claims thus saves cost of repair and maintenance.
Objectives of Product cost reduction
- Improved design efficiency.
- Reduce number of parts and eliminate unnecessary ones to reduce raw material cost and reduce maintenance.
- High quality product at lower cost delivering higher value.
- Process optimization and simpler assembly to reduce total lead time.
- Introducing standard products to reduce variations and increase interchangeability.
Check our training programs for the related tools and techniques:
- Design for Six Sigma (DFSS).
- VOC benchmarking.
- Quality Function Deployment (QFD).
- Axiomatic Design.
- Design for manufacturing and assembly (DFMA).
- Design failure mode effect analysis (DFMEA) and process failure mode analysis (PFMEA)
- Design of experiments.
- Value analysis/ Value Engineering.
- Reliability engineering.
BE THE BEST IN THE MARKET
Need to increase the competitiveness of your existing product or ensure the dominance of your new product in the market? SSA Techknowlogies can help you achieve it with its proprietary Value Methodology consulting approach and vast domain experience.
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