• Deepak Dhounchak
• Lalit Kumar Biban

Value engineering is a basic concept which is generally used in automobile sector to increase the overall production of company and eliminate all unnecessary process so that the profit of a plat can be maximized. In 21th century competition in automobile sector is going to increase day by day. Production and demand of the product is limited for all groups because there is lot of choices available in market for a customer that is way not only the production is increases today but the demand of goods is also increases. So the idea of reducing the total manufacturing cost of running part and also reducing the amount of their wastage such as parts scrap, issue of quality of parts and other reason of rejection of parts i.e. value analysis of parts is to be done so that a group produces the same parts is of cheaper cost from their competitors in market. Over the last decade the interest in standardisation of products has been increased. This interest stems from the high technology projects and the overseas business market requirement in the mid-century (1950). The International market leads to competition and its requirement for continuous improvement became an issue of major importance in 1980s and even more important in 1990s. This competitive market required organisations that provide the superior values to the customer. Standardisation is important for exchange of goods and services at international level in the world. It is also co-operation in the scientific, technology and economic activities.

Value Engineering, Value Engineering Method, Quality Control, QC, VE, SPC, Quality Management, Value analysis, VA.

"A review article on Value Engineering", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.4, Issue 11, page no.235-238, November-2017, Available :http://www.jetir.org/papers/JETIR1711044.pdf

"A review article on Value Engineering", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.4, Issue 11, page no. pp235-238, November-2017, Available at : http://www.jetir.org/papers/JETIR1711044.pdf