Achieve speed, efficiency, cost savings, and improved performance with value analysis and value engineering.
The concept of value analysis/value engineering (VAVE) isn’t new. Its roots can be traced to World War II, when General Electric had to confront serious shortages in materials and skills.
Given that context, it’s clear that VAVE has just as much value today. Although the constraints may be different, companies are still facing urgent challenges. Most CEOs are pushing their teams to accelerate transformational efforts, while fighting for cost efficiencies at the same time, according to the CIO Pandemic Business Impact survey.
For example, hospital organizations must continually make year-over-year equipment cost reductions. Equipment OEMs, in turn, will look to leverage their existing product SKUs to reduce the complexity of new product designs as well as to scale up volume buys. Consider medical carts: with the number of carts used in just one medical facility, there are substantial cost and performance efficiencies to be gained by improving this equipment.
That’s where the VAVE process makes a significant difference.
What is VAVE?
It’s a structured process of evaluating all the components and processes to improve performance and efficiency. With regard to hardware platforms, VAVE prompts questions like:
- How does a particular part function? What are its connections to other components? How does it affect the system as a whole? What happens when it degrades, malfunctions, or breaks?
- How are components tested for quality and performance? What is their variability rate? How do other similar components perform during testing?
- How does the assembly and installation process affect the system’s performance? Does the configuration and housing allow for easy implementation and simple maintenance?
- How does the system adhere to regulatory requirements? Has it been tested for compliance and validated?
All of these questions matter. If you’re using components not built for longevity, for example, that one factor can cause extra repair or replace costs, potential liability issues, and all the effects of downtime and mediocre performance.
So, what now?
Even seemingly inconsequential components such as brackets should be analyzed for their long-term value to a hardware system. When hundreds of platforms are deployed, the failure of a small bracket suddenly has significant cost ramifications.
VAVE is not about paying more for components. It’s about evaluating for the right ones that perform the best and provide efficiencies and savings in the long run.
VAVE is not about slowing down a project deliverable. It’s about properly analyzing, testing, and engineering a system so that it doesn’t cause crushing downtime.
How can MBX and VAVE help you?
While VAVE may not be top of mind in every industry, the three words it contains – value, analysis and engineering – are something every technology developer can get behind when addressing hardware projects or providers. Its fundamentals should be baked into the component selection and lifecycle management process. But the MBX approach goes even deeper than engineering.
Our unique value reaches deeply into our manufacturing and lifecycle management processes. For example, our proprietary Forge production infrastructure provides fast, accurate imaging, testing, and configuration for rapid insights into product configuration and interoperability issues. Forge helps avoid any surprises that might lead to delays or extra costs during deployment or operations.
These benefits can be amplified with MBX Hatch™, an industry-first, cloud-based toolset that gives you end-to-end hardware visibility. It offers true product lifecycle management for each component in the hardware system — from the brackets to the motherboard, right down to country of manufacture. Having this detailed information at your fingertips saves valuable time and resources.
Interested in learning more about MBX’s value engineering or VAVE methodology? We can demonstrate how a holistic approach to product development and maintenance delivers superior product functionality and efficiencies — and ultimately, greater value.
If you’d like a no-obligation review of your hardware platform engineering to see if you’re getting the maximum value, let’s talk!