Value Engineering is a method to improve the “value” of goods/products/processes/services by using an examination of function. Value is the ratio of function to cost. Therefore, the value can be increased by either improving the function or decreasing the cost. It is a primary focus of value engineering that basic functions should be kept as it is and not be reduced as a with the pursuit of improving value. It is also referred to as “value management” or “value methodology” (VM) or “value analysis” (VA).
Process Innovation is the implementation of a new and improved production/operation or delivery method. This includes major changes in techniques, equipment and/or software. Process innovation can be aimed to reduce unit production cost or delivery cost, to increase quality or to produce or deliver new or improved products.
Product Innovation is the process of launching or establishing a new product or process that is enhanced or superior with respect to its characteristics or functionality. This may include modifications or improvements in technical specifications, parts/components, materials, user friendliness or other functionalities.
Lean Facility Design©️
Lean Facility Design©️ is a unique toolkit (methodology) developed by Faber Infinite Consulting which supports organizations to build Best In Class factory layouts. This methodology applies to organizations that are coming up with New Plants (Green & Brown field projects), Revising Layouts, or Expanding current setups.