Manufacturing companies need to embrace continuous innovation in the age of shrinking product lifecycles and inevitable cost effectiveness. This entails rising costs and it becomes essential to adopt a methodology to optimize R&D spending. Additionally, with emerging markets being targeted, delivering localized products is an imperative.
HCLTech’s Value Analysis/ Value Engineering (VAVE) is a service that identifies areas of high costs and helps to eliminate them. The heart of the service is the VAVE framework with creative problem-solving that promotes the development of value-added cost-effective solutions by interdisciplinary teams. The ingrained approaches foster comparable functionality at a lower cost, thereby improving product profitability and increasing margins. Apart from costs, VAVE differentiators reduce time-to-market, through the consulting platform for Value Engineering, and expedite technology adoption. HCLTech also runs centers of excellence for VAVE, product teardown & benchmarking and Cost Engineering. These centers of excellence are backed up by Certified Value Engineers & Cost Engineers, state-of-the-art, in-house Teardown & Benchmarking Lab facilities and leverage of expertise from leading organizations, such as SAVE International, INVEST and ARAI.
Applying techniques for function-based analysis of features during the product development stage with the goal of improving value
Methodical analysis of a product to identify key cost drivers and their components & functions. Equipped with customer-specific and HCLTech-generic teardown and benchmarking labs across the globe
Strong Should Costing framework powered by Global Cost database and application of predefined cost modeling templates.
Applying framework based approach to product cost improvement through idea generation and implementing engineering change
Structured technique for defining the most optimal options for a product in terms of cost, feature and/or performance by comparison with functionally similar products.
Identification of the right products with good potential for subsequent VA/VE activities