DefinePK

Abstract

In this global competitive market, the modern manufacturing industries are moving towards the betterment of production by reducing cost with no compromise on the customer satisfaction. This article focused the detailed work of value engineering to be implemented for any kind of products in order to optimize the value of a particular item. This research work presents a case study clearly showing the development of design and reduction of cost involved in a monoblock pump. There are few mandatory points were observed during the study period of the product that the cost of pump is high due to the usage of expensive material as well as more material usage. In order reduce the cost without sacrificing the quality of the product, few main components of the product such as impeller, main and auxiliary winding, adaptor and end cover which are having great scope to achieve the good customer feedback in performance wise. The value engineering technique has been applied on the components to enhance the design and reduce the overall cost. For impeller material modification, for adaptor and end cover changes in design and modifications in winding turns for coil winding has been suggested and thereby the overall cost reduction has been achieved through value engineering approach. From the results it was found that, implementation of value engineering to selected four components of the product reduces the cost about 24.84% in the overall manufacturing cost.