Our framework of Value Analysis, Value Engineering activity identifies and eliminates areas of high cost. This is particularly important to our customers in the wire harness business, as many products have a long life cycle – often several years. Cost reduction opportunities can transpire in a number of ways, for example; new technology, logistics costs, labour, material price changes and the emergence of new suppliers.
It is important that we routinely carry out VAVE analysis to identify areas for improvement. The expectation with VAVE analysis is often to ensure that current functionality is maintained at no additional cost or lower total cost. Our methods for identifying opportunities include value engineering, tear-down analysis, benchmarking and cost modelling.