Abstract
Value analysis is one of the most effective, promising and rewarding modern techniques available to identify and eliminate unnecessary costs in design, testing, manufacturing, construction, operations, maintenance, procedures, specifications, and practices. The aim of this study is to reduce costs of critical products of manufacturing industry of Northern India using seven standard steps of value analysis. Data collection before and after implementing value analysis has been analysed. Finally, the research carries out empirical analysis of the financial/non-financial benefits incurred from value analysis of critical products. Following the seven core steps led to savings of Rupees 99 per pump, which is 28.2% of the pump cost. Average annual savings are Rupees 2.4 lakhs, for an average pump production of 2,400 units per annum.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Business Process Integration and Management
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
