An Overview of Value Engineering in Component Fabrication and Assembly
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The growing emphasis on sustainability and efficiency in industrial processes has led to the
adoption of waste reduction strategies. Fabrication and assembly as a form of
manufacturing technology requires waste elimination in the fabrication throughput.
However, extensive studies that address the use of VE in component fabrication and
assembly are lacking. This paper aims to examine the role of Value Engineering (VE) in
component fabrication, particularly in engineering applications. VE is a systematic approach
that optimises product value by eliminating unnecessary costs and improving performance.
The strategy focuses on functionality, cost-effectiveness, and stakeholder collaboration. VE
is applied at various stages of component fabrication throughput, such as material selection,
design optimisation, process streamlining, raw material, and finished components supply
chain management. The literature assessment established that significant waste reduction
potential and economic benefits could be achieved through VE implementation in
engineering component fabrication and assembly, such as eliminating overproduction,
excessive inventory, faults, transportation, waiting time, and superfluous processing.
However, the challenges and limitations of the approach include resistance to change,
resource constraints, and interdisciplinary collaboration. Emerging trends and future
research directions for implementing VE in waste reduction efforts within the components
fabrication industry are also discussed.
Keywords
TJ Mechanical engineering and machinery