Vol: 10, Issue: 3 2020

Page: 18-35

The Effect of Using Value Engineering to Restructure Product Life Cycle Costs to Gain Competitive Advantage and Market Share

Dr. Nawfal Hussien Abdullah, Haider Mohammed Ali, Aqeel Salim Mohammad

The main goal of companies is to achieve a competitive advantage as well "to reach the maximum profit possible while maintaining the basic principles of quality and brand name in a strong competition environment and the different desires of customers, which caused a challenge" among companies in adopting modern trends of management and orientation towards modern manufacturing methods and accounting techniques Administrative, value engineering is an effective means that relies on creative solutions to solve the evaluation of what exists and find alternatives without affecting the quality or functionality of the product characteristics as it works to introduce modernization and addition to product design and exclude unnecessary ideas, and it can be said that it works to restructure costs In the product life cycle by focusing work on research and development and design activities, studying product functions and evaluating the goal of adding value, research has concluded that the application of management techniques in the field of industrial companies work, especially in research and development and design activities, contributes to driving the business environment and gaining a competitive advantage.