What is value engineering? Give an example.
Value engineering is a systematic method for the improvement of the value of products and services through the examination of function, the value being the ratio of function to cost (Riggs, 2001). The value of a product can be manipulated by reducing the cost of its production or improving the function. A new technology product that is being designed may be expected or projected to have a life cycle of only three years. Designing the product using materials that are less expensive, capable of working up to the end of the life cycle of the product, to save the manufacturer and the consumer money would be an example of value engineering. Value is improved through the reduction of costs.
What is the fundamental characteristic of the design freeze point?
A design freeze point is a single point in time that marks or signifies the end of the design phase of a product (Riggs, 2001). It shows the point where development ends and when the full set of design documentation can no longer be changed henceforth.
When is highly detailed documentation required?
What are the costs involved with obsolete inventory?
Why is it judicious to batch engineering change requests?
engineering change requests makes it easier to manage documents and make any necessary
references (Nadia, Gregory, & Vince, 2006). Change requests may be many,
especially in highly-performing companies. Batching of engineering change
requests improves the management of documents and records.
Burgelman, R. A., Maidique, M. A., & Wheelwright, S. C. (1996). Strategic management of technology and innovation (Vol. 2). Chicago: Irwin.
Nadia, B., Gregory, G., & Vince, T. (2006). Engineering change request management in a new product development process. European Journal of Innovation Management, 9(1), 5-19.
Riggs, H. E. (2001). Communication between engineering and production: A critical factor. Strategic Management of Technology and Innovation, 3, 769-775.
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