Value engineering is an appropriate policy for creating and improving value, which reduces unnecessary costs and maintains core functionality. Despite the mentioned benefits, this approach has so far received little attention in the area of supply chain management. Although this approach is highly structured, limitations such as overemphasizing the cost criterion and failure to meet other criteria, utilizing team members’ votes to rank solutions, ignoring inherent uncertainty and ultimately disagreement between value engineering team members have reduced the effectiveness of this approach. The present study aims to provide a coherent framework for utilizing a value engineering approach to supply chain cost management and overcome the aforementioned limitations by utilizing gray multi-criteria decision-making. In this regard, in the first phase, the initial list of improvement solutions is determined, the criteria extracted from the literature are localized using value engineering team members’ opinion. These criteria are weighted using the gray stepwise weight assessment ratio analysis (SWARA-Gray) method. Then, the score of each solution is calculated by the value engineering team based on the list of criteria as a gray number. The scores are aggregated using the gray evaluation based on distance from average solution (EDAS-Gray) method, and the solutions are prioritized. Finally, the application of the proposed framework is investigated in a real case study in a power plant in Iran. The results of the research show that the final rankings of the solutions rarely changed for different methods; so the model used in this study has acceptable stability.
First published online 24 September 2020

/pdf/identifying-and-prioritizing-cost-reduction-solutions-in-the-5emjk6sn06.pdf

Identifying and prioritizing cost reduction solutions in the supply chain by integrating value engineering and gray multi-criteria decision-making

Value Engineering (VE) is a method for characterizing the developed requirements of a product, and it is concerned with the selection of less excessive conditions. VE can understand and improve the...

Effective Implementation of Value Engineering Using Artificial Neural Network Aid of Optimization Techniques

Formwork for Concrete Structures, 4th Edition, 2010

Value Engineering is an organized, creative problem-solving approach to identify the unnecessary costs in Functional Areas and to increase the Return -onInvestment. A critical study is done on a Divan Bed in which the product is modified according to Value Engineering techniques. This paper introduces the application of theories and phases of Value Engineering in the design of Divan Bed. This paper focuses on Functional Enhancement of Divan Bed. We thereby use techniques like Functional Analysis, Functional Evaluation and Decision Matrix to arrive at a feasible alternative. With the aim of increasing functionality, the conventional material of wood used for the manufacturing of Divan Bed is replaced with polypropylene material. This study results in the Divan Bed being convertible to a table and a chair.

/pdf/application-of-value-analysis-methodology-on-divan-bed-ys8ncr9cvm.pdf

Application of value analysis methodology on divan bed

Stochastic model of the construction process implemented with application of sliding formwork

Value Engineering (VE) concept does not mean a cost reduction only, but it extends beyond. VE is a powerful problem-solving tool that can reduce costs while maintaining or improving performance and quality requirements. It's a function- oriented, systematic team approach to providing value in a product or service. Construction project as a product or service is generally considered to have good value if this product or service has appropriate performance and cost. The construction product's characteristics differ than those in manufacture in many aspects such as immobility, complexity, durability, cost lines, and high degree of social responsibility. These characteristics are highly affected by the construction technology. Where, adopting these new technologies and working method in proper work environment can maximize the product with a working time reduction by 25% and cost reduction by 20% in average. Slip Form (S.F) is considered one of these common methods of construction. An assessment of the S.F includes productivity, appropriate speed in addition to auxiliary resource combinations. This research aims at create awareness of VE, and demonstrated the benefits gained when it applied to construction projects.

/pdf/state-of-the-art-review-on-application-ofvalue-engineering-vkol4kuxt3.pdf

State of the Art Review On Application ofValue Engineering On ConstructionProjects: High Rise Building

Value engineering, value analysis and value management of vertical slip form construction system

https://iccae.journals.ekb.eg/article_43437_96cccfbca2e2337b01ebb71397c43e4d.pdf

Ibrahim M. Mahdi

Papers

State of the Art Review On Application ofValue Engineering On ConstructionProjects: High Rise Building

Value engineering, value analysis and value management of vertical slip form construction system

Value methodology of vertical slip form construction system in high rise buildings