Investigating the Use of Value Analysis and Value Engineering as Cost Saving Techniques among Selected Manufacturing Companies in Kano State Nigeria

Musa Gambo Sharifai and Zakari Uba
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Musa Gambo Sharifai: Department of Purchasing & Supply School of Management Studies, Nigeria
Zakari Uba: PhD, Department of Purchasing & Supply School of Management Studies Kano State Polytechnic, Nigeria

Business, Management and Economics Research, 2017, vol. 3, issue 4, 34-39

Abstract: The study investigated the concepts value analysis and value engineering, and their relationship with cost savings among selected manufacturing companies that specialize in the manufacture of plastic, steel, metal products, and soft drink manufacturers in Kano state, North west Nigeria. The study employed the use of primary data where one hundred and ten questionnaires were distributed randomly to employees of nine (9) selected companies at Tokarawa, Sharada, Bompai and Zaria Road all within the metropolis in Kano state. Purposive sampling technique was used to select employees in the production, design, maintenance and engineering, marketing, supply and warehouse departments who have worked for their companies for a period of three years. Secondary data from books and journals were employed to review literature. The study found that at 95% level of significance, sig value (0.173) ? ?=0.05 this reveals an insignificant relationship between value analysis, value engineering and cost savings among the selected companies in Kano state North west Nigeria, leading to the acceptance of the null hypothesis of no significant relationship between the independent and the dependent variable. The study also found very low levels of awareness about the two concepts among manufacturers in Kano state, North West, Nigeria. The paper concluded that the concepts if properly applied would enhance cost savings in manufacturing companies and recommends the adoption of the two concepts by local manufacturers in their efforts to reduce cost(s) and remain competitive in the volatile business environment especially with the challenges of the global economic meltdown.

Keywords: Value analysis; Value engineering; Cost savings; Cost analysis; Insignificant relationship; Business environment; Components. (search for similar items in EconPapers)
Date: 2017
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