Cost Reduction of Valve: Using Value Analysis for Sustainability

7 Pages Posted: 12 Feb 2018

See all articles by Satish M. Silaskar

Satish M. Silaskar

Datta Meghe College of Engineering; University of Mumbai - Department of Mechanical Engineering, Students

Vilas B. Shinde

Datta Meghe College of Engineering

Date Written: December 21, 2017

Abstract

Value Engineering (VE) defines a process in which the value of the product can be increased by significantly decreasing its cost to achieve a long-term profitability plan of a company. In this study, Value engineering tools has been primarily used to improve the value of the product and services by reducing the cost of the valve to make it cost effective. Valves are integral components in piping systems and uses for the various purposes. The study revealed the poor value areas for which the alternatives were developed and evaluated. The modification in valve can be made through analysing functional requirement of valve for the purpose of achieving the essential function at lower cost. Finally, changes in design were proposed which led to cost saving and directly profits the bottom line of the organization.

Keywords: Cost Effectiveness, Sustainability, Value Engineering

Suggested Citation

Silaskar, Satish M. and Shinde, Vilas B., Cost Reduction of Valve: Using Value Analysis for Sustainability (December 21, 2017). International Conference on Advances in Thermal Systems, Materials and Design Engineering (ATSMDE2017), Available at SSRN: https://ssrn.com/abstract=3101592 or http://dx.doi.org/10.2139/ssrn.3101592

Satish M. Silaskar (Contact Author)

Datta Meghe College of Engineering ( email )

Plot No. 98, Sector-3
Airoli, Navi Mumbai, Maharashtra 400708
India

University of Mumbai - Department of Mechanical Engineering, Students ( email )

Mumbai
India

Vilas B. Shinde

Datta Meghe College of Engineering

Plot No. 98, Sector-3
Airoli, Navi Mumbai, Maharashtra 400708
India

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