The Value of Value Engineering

MEGHAN BRACKEN | September 5, 2019

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Value Engineering was first conceived by a General Electric staff engineer during World War ll in an attempt to cope with skilled labor shortages and a lack of raw materials and component parts. Engineer Lawrence Miles noticed that some of the substitutes not only reduced costs but also resulted in a final product of greater value than before. He subsequently developed a methodical approach that could be applied to any manufacturing process to ensure value is maximized.

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