SAVE International Asia Regional Event Recap: Value Engineering Learning Session 6

Global Corner

By Ramkumar Arumugam, VMA

On September 27, 2024 the SAVE International Asia Region organized its 6th Value Engineering (VE) Learning Session. The exciting and insightful event was held virtually and attended by 13 distinguished VE professionals representing various reputed organizations.

The Technical Talk: A Detailed Exploration

The highlight of the session was an engaging and informative presentation delivered by Mr. Ramkumar Arumugam (Team Leader – VAVE) from Allegion India Private Limited. His talk centered around the pivotal “Role of Function Analysis,” illustrated through a compelling case study that showcased the practical application and benefits of VE. The case study provided a clear, step-by-step illustration of how adhering to the VE job plan can lead to significant improvements in both product design and business operations.

In the presented case study, Function Analysis played a crucial role in identifying the core functions of the product and distinguishing between necessary and unnecessary features. By concentrating on the essential functions, the team was able to brainstorm and generate innovative solutions that enhanced product value.

Function-Based Creativity with respect to Value Gap

A key takeaway from the case study was the emphasis on function-based creativity. This approach focuses on identifying the “Value Gap,” which refers to the difference between the current value provided by a product and the potential value it could offer. By addressing this gap, the team was able to generate groundbreaking ideas that not only improved the product’s functionality but also reduced costs.

Impact on Business and Customer Satisfaction

The implementation of VE in this case study yielded substantial benefits for Allegion. The innovative solutions derived from function-based creativity led to cost savings and improved product performance. These enhancements positively impacted the organization’s bottom line, demonstrating the tangible financial benefits of VE.

Moreover, the improvements made to the product also translated into enhanced customer satisfaction. By focusing on the core functions that mattered most to customers, the team was able to deliver a product that better met their needs and expectations. This, in turn, fostered stronger customer loyalty and trust.

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Schedules for future programs and other announcements will be updated through these channels.

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