Paper Title
Analysis to Reduce Cost through Value Engineering of Furniture Product in Furniture Industry – A Case Study
Abstract
The Value Engineering process and procedures are generally well defined and well-understood at all levels in the
industry. Value Engineering is recognized as an effective tool to improve the performance of a product with reduction in cost
without reducing in quality. . A proper decision matrix is prepared for choosing the appropriate alternative from the feasible
choices available. The total saving which can be incurred per product by the implementation of above recommendations are
14.87 % for alternative-I and 27.44 % for alternative-II. Change in Technology and Globalization can rapidly increase which
creates huge demand but not necessary for the same types product at the same price tags. These forcing companies think
differently and look at their cost and create product to meet needs of market and trends.
Keywords - Value Engineering, Performance, Decision Matrix