Developing a Standard Approach to Value Engineering Process in Automobile Industry: A Theoretical Case Study and Industry Perspective

The research deals with the successful implementation of VA-VE and cost reduction tools and techniques in automobile or manufacturing company. The aim of this study is to develop a systematic model for value engineering to achieve substantial cost reduction. The purpose of this thesis is to identify the use of value engineering techniques in an automobile industry and to compare the results with the developed theory.

Due to the financial crisis, the automobile market is confronted with a depression. At the same time, the Indian automobile market has maintained a good momentum of development, which attracted more attention and investment of overseas automobile enterprises. However, the competitive pressure has increased gradually with the growing number of overseas automobile companies in the Indian market. There is a lot of research about how to increase the competitiveness of the automobile industry.

A case study is also enclosed to relate the actual methodology which is adopted to achieve the cost reduction further develop and refine the tentative model. The data is collected from various researches and studies carried out wrt automobile industries. The primary data was collected through questionnaires and discussions and the secondary data was collected through analysis, surveys and reports.