Tata Technologies is proud to announce that our Value Analysis and Value Engineering (VAVE) team has won the prestigious KSRM Sastry Award for demonstrating the best utilization of ‘Function & Creativity’ at the 34th INVEST International Conference, held on 7th and 8th December in Mumbai.
The KSRM Sastry Award is aimed at motivating value practitioners about the best utilization 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 Optimization”. 56 organizations, consisting of the top OEMs and Tier 1 suppliers globally, submitted a total of 64 papers at the conference.
“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 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 optimization 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.
The 34th INVEST International Conference was organized by the Indian Value Engineering Society (INVEST), a society which has been serving Indian professionals for more than four decades by disseminating specialized knowledge of well-established and proven techniques of Value Engineering. INVEST is affiliated to the Society of American Value Engineers (SAVE) International, USA.