RELEVANCE OF VALUE ENGINEERING TECHNIQUES IN A NEW PRODUCT DEVELOPMENT

RELEVANCE OF VALUE ENGINEERING TECHNIQUES IN A NEW PRODUCT DEVELOPMENT

ABSTRACT

1.0 INTRODUCTION
1.1 GENERAL OVERVIEW
The need to produce quality goods and services at a minimum cost possible so as to maximize profit has been a major goal of manufacturers and producers of goods, at this instance, it means that there should be a systematic and scientific approach. In doing this, this is the need for value engineering techniques. Value engineering techniques is a systematic effort aimed in improving the value of a product, project or system and optimize availability performance and other critical factors to meet the customers expectations.
According to Andrew (2001), value engineering has two primary elements (i) To deliver function at a minimum cost (ii) To use group brainstorming and consensus to broaden the solution space and avoid narrow thinking value which can improve by reduction in the life cycle cost (LCC) and by an increase in customers worth or customer acceptance, the action of value Engineering require studies in the calculation of a product (LCC) where focused on the product total cost.

1.2 BACKGROUND OF THE STUDY
Unilever Nigeria Plc, was incorporated on the 4th of December 1948 under the name of P.B Nicholas Company Limited to take over the soap making activities of Mr. P.B Nicholas who had some years prior to that established a factor for that purpose. In the company was formally incorporated in England and became a public company.
Following the merger of the company in 1976 the company’s name was changed form Lever Brothers Nigeria Plc to Unilever Nigeria Plc, it is pertinent to note that after the 1st incorporation in 1948, new factory buildings were constructed and modern soap making equipments installed at Aba thereby creating one of the earlier major industries in Nigeria. They produce series of products ranging form Omo detergent soap, close-up, Lux soap, venus pomade, canoe soap, sunlight soap etc
Also, the increasing population indicate by market surveys and close and use of the company’s products gave rise to a decision to extend the range of products to include a detergent premises at Illupeju in 1975. The company has factories and depot in some major cities in Nigeria and West Africa.

1.3 STATEMENT OF THE PROBLEM
There is certain problems faced most manufacturing company which the researcher must highlight some in order to make her research work a complete one. However, this research work on the relevance of value engineering techniques in a new product development. Using Unilever Nigeria Plc, Aba factory as the case study. Some of the problems are stated as follows:
1. Reluctance to abandon old method and to consider new methods of developing design the company resist to abandon old habits with the development technology. New materials and new technology are now available and are far better than the old ones.
2. Unwillingness of most companys management to listen to an implement creative ideas that could lead to improvement in materials and process.
3. Lack of time to examine fully all the possible alternative materials process
4. Over creation on the part of designers who might specify too high level of quality

1.4 OBJECTIVES OF THE STUDY
The following are the main objective of the research
1. To investigate those factors that is responsible for unnecessary cost in a manufacturing industry.
2. To investigate the benefit that can be derived form the application of value engineering in the production of a product.
3. To investigate the type of materials to be used the product development
4. The need to produce quality goods and services at a minimum cost as to maximize profit.
5. To assess the appropriate product management techniques used to carryout the cost of the product.

RELEVANCE OF VALUE ENGINEERING TECHNIQUES IN A NEW PRODUCT DEVELOPMENT