Value Analysis for Cost Reduction in Lead Pencil Manufacturing: A Case Study

Value Analysis for Cost Reduction in Lead Pencil Manufacturing: A Case Study
Author(s):
Tejas Jeurkar, Sanket Kadam
Keywords:
Value Analysis, Cost reduction, Pencils, Cost Saving, Function Analysis
Abstract
The aim of this study is to analyze the prospect of cost reduction through value analysis technique. Manufacturing process of conventional lead pencil is analyzed to apply the value analysis technique in order to reduce cost. Value analysis is the study of existing process to reduce the cost incurred on the manufacturing of a product through process reengineering or design alteration without reducing the performance of the product regarding to its basic functions. This study focuses on the design alteration of the lead pencil by changing materials used for manufacturing of the pencil. This study presents the functional and cost analysis of lead pencil and ideas are proposed to reduce the cost of manufacturing per product. Through newly proposed ideas, cost saving per pencil is expected to be 25% of the previous manufacturing cost.
Article Details
Unique Paper ID: 146397 Publication Volume & Issue: Volume 4, Issue 12 Page(s): 465 - 468
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