IGNOU MMPC 9 Solved Free Assignment 2022- Ignouassignmentfree

MMPC 09

Management of Machines & Materials

MMPC 9 Solved Free Assignment 2022

MMPC 09 Free Solved Assignment Jan 2022 & July 22

Q1- “An improvement in materials productivity will lead to overall improvement in system performance and cost reduction,” Do you agree? State your answer with reasons?

Ans – As we know problems of production management essentially concern management of material flow into, through and out of the system.

This makes materials management a vital subject. Since materials constitute an extremely important and costly resource to a production system.

An improvement in materials productivity will lead to overall improvement in systems performance and cost reduction.

Material Management is defined as the grouping of management functions supporting the complete cycle of material flow from the purchase and internal control of work-inprocess to the warehousing, shipping and distribution of finished products.

Role of Materials Management :- Materials in Indian context constitute more than half the total cost of production in most industries and projects. In some industries 60-70% total production cost is due to materials.

This makes materials management the biggest single area having tremendous potential for cost reduction.MMPC 9 Solved Free Assignment 2022

A well coordinated materials management programme may lead to 15-20% cost reduction.

If inventories are taken as an index of materials management effectiveness, then there is so much that can be done to cut inventories in Indian industries.

If inventory is viewed as ‘usable but idle resource’ then we can also call it a ‘necessary evil’.

Our materials planning system should be such that we are able to ensure adequate supply of materials to meet anticipated demand pattern with the minimum amount of capital blocked in inventories.

Objectives :- The primary objective of a company is to reduce the cost that occurs while buying, storing, handling, transporting and packaging materials. In addition material management has the following objectives :

(1–Maintains steady flow of materials ensuring that production does not get interrupted.

(2–Adopts cost reduction techniques like MRP and value analysis to manage the total cost required for proper management of materials.

(3–Provides right materials in the right quantity and right time to ensure the production of high quality product.

(4–Implements scientific inventory control techniques to reduce investment

(5–Maintains records of stores and purchase etc.

(6–Preserves stocks so that any loss of materials caused due to deterioration, pilferage and obsolescence can be kept at the minimum.

(7–Improves producer-consumer relationship by producing high quality product.

(8–Minimises wastage of materials and therefore reduces operating costs.

(9–Disposes surplus materials, metal cuttings and chips to economise on cost.

Need for Integrated Approach to Materials Management To be most effective, our desire to maximize materials productivity must aim it getting most out of every rupee invested in materials. MMPC 9 Solved Free Assignment 2022

This calls for a well coordinated and integrated approach towards various problem areas involving decision-making with respect to materials.

It can be seen for example that the inventory in the system can be lessened by reducing uncertainties in demand and supply,

by reducing procurement lead time, by reducing excessive material varieties through standardisaion, codification and variety reduction programmes.

Thus development of reliable sources of supplies to have ‘just in time’ supply will reduce inventories substantially. Other important areas to improve efficiency on materials management front are-

A–Value analysis, purchase price analysis :- In this we want to put right kind of material through competitive prices to reduce the material bill.

Value analysis aims at getting the required function performed at minimum cost and therefore value analysis technique has a major role in materials related cost reduction.

B–Materials handling :- Materials handling provides place (location) utility only. Otherwise it does not add to functional or aesthetic value of materials but is an element of cost.

Thus our aim should be to design systems of production and storage to minimise the costs associated with movement and handling of materials.

C–Inventory control :- Here we try to plan our procurement actions so that we can get the demand satisfied reasonably well without having to stock (in inventory) too much of materials.MMPC 9 Solved Free Assignment 2022

This is a very well discussed problem area in literature on materials management.

D–Stores management :- Stores function looks after physical custody of materials. By proper planning of layout, storage materials and issuing policies we can ensure faster service so that items demanded by production can be supplied without delay.

Avoidance of pilferage, wastage and storage losses are also important aspects of stores management.

E–Waste management :- Materials waste must be minimised if not totally eliminated. Waste can also be considered as a barometer of materials productivity. If materials waste is minimum, productivity of materials improves.

An integrated approach to materials management must look at all the above mentioned problem areas in a coordinated manner with a view to maximise materials management effectiveness.

Cost involved in Material Management. Managing materials involves the following costs :

(1–Capital Cost–cost of materials procured paid by the company to the supplier.

(2–Government levies and taxes. MMPC 9 Solved Free Assignment 2022

(3–Ordering cost involving the cost of tendering, stationery, postage, inspection, bill payment and delivery that incurred while purchasing materials.

(4–Inventory carrying cost (holding cost) involving cost of storage, record keeping, wages to stores staff and payment of insurance cover for maintaining inventory.

(5–Packaging cost.

(6–Material handling cost.

(7–Shipment cost.

MMPC 09 Free Solved Assignment
MMPC 9 Solved Free Assignment 2022
MMPC 9 Solved Free Assignment 2022
MMPC 9 Solved Free Assignment 2022

Q2- Distinguish between mass and batch production. Under what conditions is batch production justified?

Ans – MASS PRODUCTION- It was Henry Word who in 1913 introduced the ‘assembly line’ and the notion of ’mass production’.

It is erroneous to think that mass production means production in millions or for the masses, though this may be an outcome. Mass production refers to the manner in which a product is produced. MMPC 9 Solved Free Assignment 2022

This involves the decomposition of the total task into its minutest elements (shown usually on a precedence diagram) and the subsequent regrouping of these elements according to the norms of production.

An assembly line consists of work stations in sequence where at each work station the above carefully designed portion of work is done.

Mass production requires that all like parts of an assembly line be interchangeable and that all parts be replaceable, characteristics which permit production and maintenance of large quantities.

The assembly line is a production line where material moves continuously at a uniform average rate through a sequence of work stations where assembly work is performed.

Typical example of these assembly lines are car assembly, electrical appliances, TV sets, computer assemblies and toy manufacturing and assembly. A diagrammatic sketch of a typical assembly line is shown in Figure l.

The arrangement of work along the assembly line will vary according to the size of the product being assembled, the precedence requirements, the available space, the work element and the nature of the work to be performed on the job.

MMPC 9 Solved Free Assignment 2022

Material movement between work stations could be manual, as for instance when operators sitting in a row pick up the part from the output of the previous operator, work on it and leave it in a bin to be picked up by the next operator;

or through the use of conveyors which carry the part at a predetermined speed so chat there is adequate time for each work station to complete its allocated share of work.

There are various types of conveyor that are used in assembly lines; the most widely used are belt, chain, overhead, pneumatic and screw conveyors.

It may be of interest to note that assembly lines could have varying degrees of automation, starting from the purely manual on the one hand to the fully automated line on the other.

However, the underlying principle of the assembly line and mass production remains unchanged, although the labour content may be reduced through robotization.

WHEN TO GO FOR MASS PRODUCTION :- It is generally agreed that mass production is justified only when production quantities are large and product variety small.

The ideal situation for mass production would be when large volumes of one product (without any changes in design) are to be produced continuously for an extended period of time.MMPC 9 Solved Free Assignment 2022

Thus the rate of consumption (or demand) of the product as compared to the rate of production decides whether continuous or batch production is called for Obviously,

only if the rate of demand is greater than or equal to the production rate, mass or continuous production could be sustained.

if the rate of demand is less than the production rate, batch production with suitable inventory buildups could be resorted to.

BATCH PRODUCTION :- Batch production is a method whereby a group of identical products are produced simultaneously (rather than one at a time).

It is up to the manufacturer to decide how big the batch will be, and how often these batches will be made.Each batch goes through the separate stages of the manufacturing process together.MMPC 9 Solved Free Assignment 2022

Meaning that another batch can’t begin a stage, if the previous one is still within that part of the cycle. MMPC 09 Free Solved Assignment

Each batch can be different, as manufacturers can decide to change the specifications from one group of products to the next.

Perhaps it is necessary to change the colour or size of that particular group (depending on the preferences specified in a particular order).

Quality checks can be carried out after each step of the production cycle.

And machinery can be tested between batches to ensure there are no performance problems.

This kind of flexibility isn’t possible when using some other approaches.

In batch production a continuous demand for certain products exists, but because the rate of production exceeds the rate of demand, there is a need to produce products in batches.

The scheduling problem here is concerned with determining the batch sizes for products and the order in which they should be produced.

In job production a stream of orders has to be processed on common facilities or production centres, each job having its own unique specifications and requirements in terms of production resources.MMPC 9 Solved Free Assignment 2022

A job may consist of a single item or a batch of identical items.

The scheduling problem here is concerned with setting the sequence with which jobs should be processed at each production centre.

FEATURES OF BATCH PRODUCTION :- Unlike mass production systems which tend to be organised as product layouts with machines or equipment arranged according to the product flow, batch production normally is done employing a process layout.

Here similar machines or equipment are grouped in departments and different jobs will follow their own route depending on requirements.

Apart from the greater flexibility afforded by process layouts as compared to product layouts some of the advantages and disadvantages of process layouts are summarised below:

Advantages: MMPC 9 Solved Free Assignment 2022

i) Better utilisation of machines is possible; consequently, fewer machines are required.

ii) A high degree of flexibility exists vis-a-vis equipment or manpower
allocation for specific tasks.

iii) Comparatively low investment in machines is needed.

iv) There is generally greater job satisfaction for the operator owing to the
diversity of jobs handled.

v) Specialised supervision is possible.

Disadvantages:

i) Since longer and irregular flow lines result, material handling is more expensive.

ii) Production planning and control systems are more involved.

iii) “Total production time is usually longer.

iv) Comparatively large amounts of in-process inventory result

v) Space and capital are tied up by work in process.

vi) Because of the diversity of jobs in specialised departments, higher grades of
skill are required MMPC 9 Solved Free Assignment 2022

Normally we resort to batch production of products when there is a continuous demand for products and the production rates exceed the rates of demand.

Continuous production would obviously lead to ever increasing inventory build-ups in such cases.

The problems of finding the batch size in both the single product and the multiproduct situation (with the same manufacturing facility) have been considered.

Essentially, the approach is to, balance two conflicting costs: the cost of set up and the inventory carrying cost, where the former tends to decrease while the latter increases with larger batch sizes.

Q3- “Work measurement is concerned with the determination of the amount of time required to perform a unit of work.” In the view of statement, explain the procedure of work measurement.?

Ans – Work measurement is concerned with the determination of the amount of time required to perform a unit of work. Work measurement is very important for promoting productivity of an organization.MMPC 9 Solved Free Assignment 2022

It enables management to compare alternate methods and also to do initial staffing. Work measurement provides basis for proper planning.

Since it is concerned with the measurement of time it is also called ‘Time Study’.

The exact examination of time is very essential for correct pricing. To find the correct manufacturing time for a product, time study is performed.

To give competitive quotations, estimation of accurate labour cost is very essential. It becomes a basis for wage and salary administration and devising incentive schemes.

Work measurement :- Work measurement is concerned with the determination of the amount of time required to perform a unit of work.

It provides management with a basis for comparison of alternative methods, and also a basis for initial manning.MMPC 9 Solved Free Assignment 2022

Moreover, it makes available the necessary data for effective planning and scheduling and provides a basis for wage and salary administration especially for devising sound incentive schemes.

Work Measurement Procedure The basic steps to be followed sequentially for work measurement are:

(1– Select the work to be studied, after having made a preliminary survey.

(2– Record all the relevant data pertaining to the circumstances in which the work is being done, the methods and the elements of activity in them

(3– Measure each element in terms of time over a sufficient number of cycles of activity to ensure that a representative picture has been obtained.

(4– Examine the recorded data and time elements critically to ensure that unproductive or random elements are separated from productive elements; also examine the recorded times of each element and determine a representative time for each.

(5– Compile a time for the operation which will provide a realistic standard of performance and will include time allowances to cover suitable rest, personal needs and contingencies etc.MMPC 9 Solved Free Assignment 2022

(6– Define precisely the series of activities and method of operation for which the time has been allowed and issue the standard time for the activities and methods specified.

The above steps of work measurement are essentially a three-stage procedure of analysis, measurement and synthesis.

The analysis stage occurs when the work to be measured is broken down into its constituent parts.

Measurement takes place when the available information is gathered together into a suitable form for use.

It is important to appreciate that the three stages are closely connected with each other.

Techniques of Work Measurement The principal techniques used to measure work are:
a) Time study
b) Work sampling

c) Pre-determined motion-time system (PMTS)
d) Analytical estimating MMPC 09 Free Solved Assignment

e) Synthesis from standard data
f) MOST

The first two techniques would be discussed in detail in this unit, whereas the remaining ones would be explained only very briefly.

Time Study : Time study is a technique for determining as accurately as possible from a limited number of observations, the time necessary to carry out a given activity at a defined level of performance.MMPC 9 Solved Free Assignment 2022

Objective : The objective of time study is to determine by direct observation, by stop watch, the quantity of human work in a specified task and hence to derive the proper time for the task.

Here we make Macro-motion study of elements of job having duration time of 3-4 secs.

Time study procedure :Basic time study equipment or tools consist of a stop watch, a study board, pencils, a pocket calculator, and measuring instruments for distance and speed (such as s ruler tape measure, micrometer and technometer/revolution counter)

The basic steps in time study procedure are as follows:

1) SELECT the job to be studied (short cycle or long cyele, repetitive or
non-repetitive). A job might be selected for a variety of reasons. It could be because of

a) a new job. MMPC 9 Solved Free Assignment 2022
b) a change in method for which a new standard time is needed,

c) a complaint received from workers or their representatives about
time allowed for an operation,
d) a bottleneck operation,

e) a change in management policy such as the introduction or
withdrawal of an incentive scheme.

2) RECORD all the information about the job, the operator and the surrounding conditions which are likely to affect carrying out of the work.

Plan the programme by which all the constituents can be measured economically and accurately, record a complete description of the method and break down the operation into elements which could be conveniently observed, measured, analysed and synthesised

3) MEASURE with a stop watch the time for each element repeated for sufficient number of cycles, so as to provide reliable data covering all expected conditions.

Also while observing, do not forget to assess the effective speed of the working of the operator relating to a predetermined ‘normal’ speed.

This process is called “Performance Rating” and if it is not reliable enough it could be a bone of contention between the various relevant parties.

Now we shall define the term “Performance Rating”. By definition rating is a comparison of actual performance with some standard notion or normal performance.

Normal performance (or pace) is the working rate of the average worker working under capable supervision but without the stimulus of an incentive wage plan.

This pace can easily be maintained day after day without undue physical or mental fatigue and is characterised by the fairly steady exertion of reasonable effort When a customer wants to purchase some products,MMPC 9 Solved Free Assignment 2022

then he usually compares the prices with those of similar products, which are being manufactured by other producers. MMPC 09 Free Solved Assignment

Therefore, to give competitive quotations, estimation of accurate labour cost is very essential as it has got large effect

By definition rating is a comparison of actual performance with some standard notion or normal performance.

Normal performance (or pace) is the working rate of the average worker working under capable supervision but without the stimulus of an incentive wage plan.

This pace can easily be maintained day after day without undue physical or mental fatigue and is characterised by the fairly steady exertion of reasonable effort When a customer wants to purchase some products,

then he usually compares the prices with those of similar products, which are being manufactured by other producers.MMPC 9 Solved Free Assignment 2022

Therefore, to give competitive quotations, estimation of accurate labour cost is very essential as it has got large effect on the price.

If the prices are higher, then, the manufacturer may not get supply orders and if these are lower, then losses may occur.

Thus exact estimation of time is very essential for correctly pricing.

As labour cost depends upon time estimation, therefore, time must be estimated correctly as far as possible.

MMPC 9 Solved Free Assignment 2022
MMPC 9 Solved Free Assignment 2022

Q4- What do you understand by the term “Classification of Materials”? Also, explain the purpose of classification?

Ans – A material is defined as a substance (most often a solid, but other condensed phases can be included) that is intended to be used for certain applications.

There are a myriad of materials around us – they can be found in anything from buildings to spacecraft. MMPC 9 Solved Free Assignment 2022

CLASSIFICATION OF MATERIALS :- Classification is defined as the process of arranging things in groups or classes according to their resemblances and affinities and gives expression to the unity of attributes that may subsists among a diversity of individuals.

When there are numerous items handled by an organisation, their planning and coordination becomes extremely. difficult, if not impossible, if each one of them is handled separately.

Classification of materials involves grouping of items according to some criteria.

We are quite familiar with classifying our domestic articles into clothes, kitchenware, electric appliances, electronic gadgets, furniture, professional articles, entertainment articles, groceries, consumables and non-consumables etc.

It is easy to see that an item may belong to more than one class depending on the criteria used.

For example, a radio set is an electronic gadget as well as a nonconsumable and entertainment article. What is the purpose of classification?

Following are the major objectives of classification:

(1– To devise procedures of planning and control for materials in a class.

(2– To devise purchase procedures, inspection methods, and storing and issuing procedures, common to all materials in a class.

(3– To devise accounting and evaluation procedures common to all materials in a class.

Obviously; the concentration of effort according to class system would be more efficient and effective as compared to diluted effort corresponding to each individual item. Following are the major classification systems.

On the Basis of Nature of Materials MMPC 9 Solved Free Assignment 2022

A– Raw Materials: Raw materials include all those materials which are purchased from the original producer or other manufacturers and are used directly in producing the firm’s product.

For example, cotton and yarn are raw materials for cotton textile mills for they help in producing the final product- cloth.

Cotton is purchased from the original producer, i.e., cotton grower, whereas yarn is procured from other manufacturers, i.e., spinners.

The product in one trade may become the raw material for the other trade.

B– Machinery and Equipment: All the machinery, both power and handdriven, such as, presses, lathe machines, typewriters, electric motors, fans, and other machines used in the production and other departments, is classified as such.

Tools also come under this category, and they are issued on loan basis to the various departments for a definite period, generally till their life-time.

C– Consumable Items: Those materials used in the manufacturing process which cannot be used for the second time for the same purpose since their utility for the purpose in question has ceased and the shape changed are referred to as consumable items.

Coal, coke, mineral oil, lubricants, cotton waste, paints, varnishes, oxygen, stationery items like pencil, paper, carbon papers and ink, etc., are a few examples of the consumable items.

D– Chemicals: Substances obtained after undergoing certain processes in chemistry according to a formula devised for the purpose may be known as chemicals.

They should be stored, preserved and issued very cautiously after a careful scrutiny and proper analysis since their use involves risk even to life.

Items like carbide, acids and salts etc., can be classified under the head.

E– Inflammable Items: Items highly susceptible to fire, such as petrol, kerosene, films, dopes and paints, fall under the category.MMPC 9 Solved Free Assignment 2022

Due to their hazardous nature, they are generally stored as far away as possible from the main building with complete fire-fighting arrangements standing by.

F- Fuel Stock: These are also consumable items. But there is a slight difference between the two in respect of their uses.

When an item is directly used for production and is a fuel for the furnace and, oven etc., it is classed as fuel stock.

It is a necessary item for completing, rather starting, the manufacturing process and of course one of the important items in a manufacturing unit, but it can never constitute the finished product.

However, sometimes it may rightly be taken as a raw material. Coal is a fuel stock but is also a raw material for an iron and steel industry

G– Furniture: Movable contents of a house or a room like chairs, tables, almirahs, benches, and stools, etc., are furniture items.

Their repairs, renewals and replacements also require proper maintenance of records since they are issued temporarily on loan basis.

H– Scrap Materials: On the expiry of life of a particular item, the residue is called the scrap.

Such material as is left over as waste in the process of production is also known as scrap.

The scrap is sold out in the market so as to fetch some value out of it. Kabadis are the best purchasers of scrap in this country.

I– Packaging Materials: These include all kinds of wrapping materials, such as paper, wood carvings, sawdust and straw, etc., containers like boxes, crates, drums and bottles, protective coatings, such as, wax, grease, as also plastic cans and bags, etc

J– General Items: This category include all those items which do not fall under any of the above categories of items.MMPC 9 Solved Free Assignment 2022

In a large undertaking, general stores section is separated from other stores under an independent incharge since they cover a large number of items,

which, although not directly linked with the production processes, are required for day-to-day smooth and efficient running of the enterprise.

Cleaning materials like soap, brasso, brooms, uniforms for the staff, stationery and all other items of general use are handled in the general stores department

On the Basis of Usability of Materials :-

A– Serviceable, Unserviceable and Obsolete Items: Serviceable items are those items which go temporarily out of order.

Añer repairing and replacement they may become serviceable again and their usable life may thus be extended for some more time. Unserviceable items are those items which have outlived their life.MMPC 9 Solved Free Assignment 2022

No amount of repairs, renewals or replacements can bring them back to their usable life. They are thus fit only for disposal as scrap.

Obsolete items are those items which have gone out of date because of new inventions in design and use, etc., and which cannot profitably be used again.

B– Finished and Semi-finished Items: Finished items are those goods which have been manufactured in complete form by the production department and are ready for sale.

On the other hand, semi-finished items are those which have not yet been manufactured completely and need some further processing before they can be put to sale in the market.

They are thus taken back by the production department for turning them into a final product.MMPC 9 Solved Free Assignment 2022

C– Dead Stock Items: This term is generally used in government departments. Furniture, equipments, machinery and other items which have some definite life and which cannot be written off before the expiry date of their life are classed as dead stock items.

They are issued temporarily on loan basis to their users.

D– Unused Items: These are not stock items in the real sense of the term. These cannot be used in the production unit, because, being defective, damaged beyond use, or because of some other reason they have been rendered unusable.

Sometimes unused stocks are mistaken for scrap and unserviceable materials. But this is not the real position.

Scraps are generally left out items from the production unit. They cannot be used, as either they are less in quantity or less in measurement, weight, etc.

But unserviceable items are movable items which have been rendered unserviceable by constant use and are now beyond repair.

Q5- Write the short note on any three of the following ?

A– Computer- Aided Manufacturing (CAM)

Ans – A part can be computer designed (computer-aided design) and its fabrication instructions can be generated by computer-aided manufacturing(CAD/CAM).

This has the advantage that the manufacturing equipment is not tied up for long periods during setting up time.MMPC 9 Solved Free Assignment 2022

Practically all the preparation time is in programming where detailed instructions regarding the physical task to be performed and the sequence in which these have to be performed are written into a programme which can be read and executed by a computer having the machine tool or any other manufacturing equipment under its control.

This then allows for very small batch sizes without losing on economy.

Finally, because information regarding the design and the manufacture of the product and component is available on computer files, it is possible to use the data together with other information on materials, tools, etc.MMPC 9 Solved Free Assignment 2022

for production planning and control purposes thus achieving computer-integrated manufacturing (CIM).

This trilogy of terms stands for computer aided design (CAD), computer aided manufacturing (CAM) and computer aided engineering (CAE).

In these systems, the computer aids in the design process by providing different images of the designed product from different view—the computer screen acting as the designer’s drawing board.

The CAM ties the NC machines with the material handling equipment so the manufacturing operations are working together.

In CAE, the computer is used to aid in analysing engineering problems, particularly structured analysis where the structure has previously been designed using CAD.

In its widest sense, these imply the automation using computer control of all activities necessary to take a product from concept to its completed manufacture.

B– Problems in Job Production

ANS- A typical formulation of the job shop scheduling problem is: given n jobs to be processed through m machines, each job having a predetermined sequence of operations and processing times, MMPC 9 Solved Free Assignment 2022

in what order should the jobs be loaded on the machines so as to optimise certain performance criterion?

A typical list of performance criteria to be optimised is:

(1– Total processing time or makespan

(2– Mean flow time (or mean time in the job shop)

(3– Idle time of machines

(4– Mean lateness of jobs (lateness of a job is defined as the difference between the actual completion time of the job and its due date)

(5– Mean earliness of job (if a job is completed before its due date, then its lateness value is negative and it is referred to as earliness instead

(6– Mean tardiness of jobs (if a job is completed after its due date, then its lateness value is positive, and it is referred to as tardiness instead)

(7– Number of tardy jobs

(8– Mean queue time

(9– Mean number of jobs in the system.

Moreover the solution procedure depends on the following factors:

(1– The number of jobs to be scheduled

(2– The number of machines in the machine.shop

(3– Type of manufacturing facility (flow shop or job shop)

(4– Manner in which jobs arrive at the facility (static or dynamic)

(5– Criterion by which scheduling alternatives are to be evaluated

If the number of jobs (n) and the number of machines (m) increase, the scheduling problem becomes more complex.MMPC 9 Solved Free Assignment 2022

In fact, no exact or optimal solutions exist for sequencing problems with large n and m.

Simulation and heuristic algorithms seem to be the solution techniques for real life scheduling problems.

We initiate the discussion on job shops with some very simple one machine and two machine cases for which exact solutions exist.

Many practical situations would fit into these categories as you would see.

Next, a graphical procedure for scheduling of 2 jobs to minimise the total time of processing is proposed.

And, finally, some scheduling rules (Priority Dispatching Rules for sequencing jobs) and results from simulation studies are presented.

C– Benefits of Value Engineering

ANS- Value Analysis recognizes that good value is achieved when the necessary performance can be accurately defined and delivered at the lowest life cycle cost.

The Value Methodologies result in benefits to both the individual and the organization.

Value Engineering helps in improving efficiency as well as effectiveness of products, systems and procedures. In general, VE, MMPC 9 Solved Free Assignment 2022

(1– enables people to pinpoint areas that need attention and improvement.

(2– provides a method of generating ideas and alternatives for possible solution to a problem.

(3– provides a means of evaluating alternatives including intangible factors.

(4– provides a vehicle for dialogue

(5– documents the rationale behind decisions.

(6– materially improves the value of goods and services.

In conclusion it must be re-emphasised that VE/VA is an extremely powerful methodology for cost reduction and value improvement and is becoming more and more popular.

It is applicable to all areas: hardware, products, services, systems or procedures, and in all functional processes: purchasing, designing, producing, packaging, physical handling and distribution. MMPC 9 Solved Free Assignment 2022

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