Cost & Value Engineering

Value Analysis Value Engineering (VAVE)

Value Analysis Value Engineering is a methodical way to assign a cost to the value or function of a product. This then allows a company to optimise the relationship between the two ensuring that products are not over-engineered or under-designed but instead are “just right” for their assigned task and therefore costed correctly.

By employing VAVE analysis our cost and value engineering consultants are able to help companies ensure they build products that are engineered for the task to keep costs down.

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Should cost modelling

This is a sequence of calculations to work out how much a service or product should cost. By using data points collected through years of operating in this space our cost and value engineering consultants are able to combine this data with their experience to accurately reflect a client’s current cost model.

Clients can use the cost modelling produced to help future procurement cost negotiations, allowing our clients to conduct “fact-based negotiations”.

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Make versus buy

A key decision most companies need to make is whether they should make certain components or buy them in from a supplier.

To understand what the right choice is, our cost and value engineers work with clients to understand the true cost of making something in-house, including taking into account “overhead allocation”. By helping clients better understand these costs, they can then make a better-informed decision.

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Design to cost

This is the process of designing a product with cost in mind, at volume. By knowing exactly how much a product needs to be manufactured for, this gives our clients’ designers and engineers the understanding they need to design a product that is not only fit for purpose but one that can be produced at a profit.

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Lifecycle costing

Lifecycle costing looks at all elements in the life of a product, from the start of life tooling, packaging, logistics, through to mid-life servicing and finishing with end-of-life disposal.

Our team use lifecycle costing techniques to help clients understand the total costs of their products. This in turn helps clients forecast and plan for the future.

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Carbon footprint calculation

We work with clients to gain a clear picture of the carbon emissions of their products, taking an in-depth look at the carbon profile of products and their parts, to identify those with the highest emissions.

We also work alongside your teams to model different scenarios to understand the impact these will have on carbon output, before recommending, and if required executing, specific actions to help reduce the overall emissions.

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