Value Analysis & Value Engineering

Value Engineering (VE) is concerned with new products. It is applied during product development. The focus is on reducing costs, improving function or both, by way of teamwork-based product evaluation and analysis. This takes place before any capital is invested in tooling, plant or equipment. This is very significant, because according to many reports, up to 80% of a product’s costs (throughout the rest of its life-cycle), are locked in at the design development stage. This is understandable when we consider the design of any product determines many factors, such as tooling, plant and equipment, labour and skills, training costs, materials, shipping, installation, maintenance, as well as decommissioning and recycle costs. Therefore value engineering should be considered a crucial activity late on in the product development process and is certainly a wise commercial investment, about the time it takes. It is strongly recommended to build value engineering into new product development process, to make it more robust and for sound commercial reasons.

Value Analysis (VA) is concerned with existing products. It involves a current product being analysed and evaluated by a team, to reduce costs, improve product function or both. Value Analysis exercises use a plan which step-by-step, methodically evaluates the product in a range of areas. These include costs, function, alternative components and design aspects such as ease of manufacture and assembly. A significant part of VA is a technique called Functional Analysis, where the product is broken down and reviewed as several of assemblies. Here, the function is identified and defined for each product assembly. Costs are also assigned to each one. This is assisted by designing and viewing products as assemblies (or modules). As with VE, VA is a group activity that involves brainstorming improvements and alternatives to improve the value of the product, to the customer.

We provide value engineering services which aimed to identify and eliminate high cost areas in the value chain, ensuring a balance between efficient use of resources and decreased operating costs. Partnering with engineering clients to integrate value engineering strategies across entire value chain, we help drive down costs and enhance value for product development, production processes and supply chains.

In the value management process our value engineering team works closely with designers and stakeholders to ensure appropriateness and accuracy in information, which in turn helps in improving the operational efficiency of the value analysis & value engineering. Our team to excellence in providing value engineering services is possible due to our well-equipped engineering facility, and a team of VE specialists to develop cost-effective strategies for our clients. Additionally, we also involve industry experts to address problems across different domains more comprehensively. Reduction in quicker upgrades / versions of products through reverse engineering and rapid prototyping.

We offer skills in a very wide range of value analysis & value engineering to cover the most specific needs. We have, over the years acquired the best of skills and developed processes and tools, to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. We strive for the best of your expectations of value & quality in any field of product engineering.

Service offerings

We deliver highest quality engineering design optimization solutions. Our experts help improve your product design, giving you a competitive edge. We utilize 3D modeling, simulation, and analysis to uncover the design flaws, reduce performance risk and improve product effectiveness.

We use latest methodologies and tools to optimize the product design in terms of weight as well as cost reduction. All the product designs are validated and verified via state-of-the-art engineering analysis procedures. There are little possibilities of design failures as they are validated in the preliminary stages of design process saving expenses incurred in terms of both cost and time.

We use modular design approach for your products which reduce complexity and increase interchangeability in engineering. Also, this approach results in lower rate of production errors and reduced component variety in manufacturing. Our team also analysis potential risks of the designing and make sure the complex tasks in designing are handled efficiently and cost of manufacturing is also reduced.

We help our clients in creating parts and feature libraries, thus freeing up their time which they can use to focus on their core manufacturing activities. We offer best practices and techniques to organize libraries and delivering the best setup for your existing libraries. Our team can take care of creating multiple versions of your models, library parts and configurations.

We offer product localization, low-cost sourcing, and supplier integration services at LanceSoft that effectively address our client requirements. Our services comply with the statutory regulations, address cost expectations and feature requirements of the new market.

  • Material cost reduction
  • Standardization
  • Part cost take over-weight reduction, process change, material change/unification
  • Simplification & optimization of design
  • Benchmarking
  • Improve the functionality
  • Should-costing
  • Reducing the product costs
  • Supplier identification and sourcing
  • Product life cycle customization
  • Reverse engineering
  • Group level analysis
  • Part level analysis
  • Material code-cost per pound analysis
  • Cost vs weight analysis
  • one to one material cost analysis
  • Location/facility wise material cost analysis
  • Manufacturing process cost analysis
  • Should costing