Abstract
This paper presents automotive product life cycle cost analysis & optimization through Value Engineering and Value Analysis Techniques. In India, automotive market is getting dynamic due to increased competition, entry of automotive giants, globalization, product pricing, etc. To sustain these factors, one has to come up with strategic way and focus must be given on defining product worth, functions, features, customer need, quality and identifying & minimizing the wastages during the product design & development process. This paper focuses on the value engineering and analysis techniques for optimizing the design and development cost through elimination of non-value adding processes and activities and also focuses on the VAVE principles can be effectively applied. VE is highly versatile and may be applied for cost improvements in practically all spheres like products, process, services and systems. A case study has been conducted mainly focusing on the fuel tank neck locking mechanism for selected concept evaluation based upon decision matrix & paired comparison for reduced inventory at supplier end, reduced process cost and end Customer satisfaction.
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