Friday, December 13, 2013

How to Find Low Cost High Quality Alternatives for Value Engineering - Industrial Engineering?

Search intensively for low cost alternatives by:

Studying handbooks

Perusing trade literature

Contacting people who might have pertinent information

Focusing intense creativity sharply on the task to be accomplished

Refining the results obtained by the above methods

Unless this search for low cost alternative is effectively and penetratingly done, the real low cost solutions will not be identified by industrial engineers.

Handbooks only contain information on materials and processes and their uses. They will not contain cost information.

Cost information can be obtained by a combination of the following sources

The cost department and cost ledger, The financial accounting department and ledger
Cost analyses
Suppliers of products and materials
Special cost studies

Miles said 100 times more information than that which was presented in his book is necessary a high degree of value work.

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