VALUE ENGINEERING

Value Engineering is a corner stone of our design experience and these ideas can be used for new designs as well as a way to extend the life of older products. Many established companies have legacy instruments, which are still in demand and will be manufactured for the foreseeable future.

If these instruments have:

Manufacturing quantities above 200/year
High complexity
High incidence of complaints
Obsolescence issues for components or sub-systems
Single-source materials or sub-systems
Non-optimized design with high material cost
Margins that are too low
Difficult supply chain
Are difficult to manufacture or service

Value Engineering (VE) can provide a solution.

The Value Engineering Process

Portfolio Analysis

Identify and prioritize top opportunities by business and product
Estimate of total opportunity and required resources

Value Engineering Workshop

Structured tear down workshop by product
Create project list prioritized for impact and ease of execution

Project Completion

Execute design and process changes identified by workshop
Track cost savings

Why is Value Engineering important?

Your business is sub-optimized when cost-reduction efforts overwhelm internal R&D resources.
During development, often quality and time-to-market are emphasized over cost, resulting in a less-than-optimized product.
20% – 30% cost reductions can often be achieved, depending on the status of the instrument.
Rapid technology advances make original methods, technology and components costly or obsolete.
Often VE provides additional supply chain cost reduction opportunities.
This isn’t a typical activity in most organizations.