Cost Reduction Using Value Analysis For Auto Rickshaw Steering Bar
Value Engineering defines a process in which the value of the product can be increased by significantly decreasing its cost to achieve a long-term profitability plan of a company. In this study, Value Engineering Job Plan (VEJP) has been used to reduce the cost and improve value of Auto rickshaw steering bar. The study revealed the poor value areas for which the alternatives were developed and evaluated. Finally, changes in design were proposed which led to 1.54% of cost saving and ease of manufacturing that helped yield a four-fold increase in the production.
Keywordsó Value Engineering Job Plan, Auto rickshaw steering bar and cost saving.