Global engineering services provider Tata Technologies’ Value Analysis and Value Engineering (VAVE) team has won the KSRM Sastry award for demonstrating the best utilisation of ‘Function & Creativity’ at the 34th INVEST International Conference, held on December 7 in Mumbai.
The KSRM Sastry Award is aimed at motivating value practitioners about the best utilisation of ‘Function & Creativity’ to derive the best solutions. It is awarded to the team which successfully demonstrates that properly identified and defined functions in their project enabled them to creatively generate the best solution’.
The Tata Technologies team, comprising Bharat Waghmode, Prasad Talathi, Avinash Bhosale and Sunny Dharmjitdnyasu, won this award in the first year of their participation at the event. The team won the award for their paper on “Value Analysis of Steam Iron for Cost Optimisation”. Fifty-six organisations, consisting of the top OEMs and Tier 1 suppliers globally, submitted a total of 64 papers at the conference.
The paper submitted by the team was based on a project done for a US-based client who is a major player in the home appliances market. The client had carried out multiple cost optimisation drives internally and concluded the product as optimized and ready for development. This project had been offered to Tata Technologies as a challenge to demonstrate VAVE capabilities. Tata Technologies demonstrated results with structured application of the VAVE process and provided a potential saving of 12% for this high volume (500,000/year) product.
“It is a wonderful achievement by the Tata Technologies VAVE team to have won the prestigious KSRM Sastry Award in the first year of their participation at the INVEST International Conference. This award is a heartening recognition of the industry-leading VAVE capabilities that Tata Technologies offers,” commented Ashutosh Vaidya, chief delivery Officer, Tata Technologies.
The 34th INVEST International Conference was organised by the Indian Value Engineering Society (INVEST), which has been serving Indian professionals for over four decades by disseminating specialised knowledge of well-established and proven techniques of value engineering. INVEST is affiliated to the Society of American Value Engineers (SAVE) International, USA.