Application of Value Analysis &Value Engineering in Costreduction at Automobile Industry: A Case Study Vivek Singh. R.1, Ravanan P. M.2 1Dept. of Project Management, VJTI, Mumbai 2Dept. of Production Engineering, VJTI, Mumbai Online published on 8 August, 2018. Abstract Doing things in the right way, in a very first attempt is what today's demand is. However, talking realistically, ultracompetitive market condition has led manufacturing sector to such a phase where continuous improvement is inevitable in terms of increasing desired profit margin in a business. With these changes comes the serious need of an efficient as well as effective development system. Irrespective of business domain, companies must focus on speed, efficiency, cost of production, customer service, product value etc. to be globally competitive. Long-term health of any organization depends on their commitment to continuous improvement in their business, along with an optimized cost of production, mechanization of auto production also been transformed over a past century, led by the need of a faster and lower-cost of production on the supply side of the industry. Thus, reasonable cost reduction of a production without affecting the quality level could be the best way industry can attain their maximum profit level. This paper aims at studying integrated practices embodied within cost reduction in automobile industry, that also form comprehensive industrial philosophy that strives to effectively & efficiently fulfil customer's need, also framework management techniques that organizations can implement, in order to create knowledge necessary to advance performance at lower cost. Practice has been discussed along with case study of cost reduction at gear factory of one renowned automobile industry in India and attempts to suggest a generic assimilated Project Management model for cost reduction atmanufacturing industry. Top Keywords Value Analysis & Value engineering, Engineering Change Management, Project life cycle. Top |