What is value engineering?
Value engineering is a systematic approach to reducing costs, without compromising quality and function. However, there is an entire process that goes into value engineering, in order to ensure that the outcomes are what businesses, consumers and supply chains need. After all, value engineering needs to offer just that: value.
The steps involved in value engineering, summarised:
- Obtain information – The brief of what’s needed
- Thinking creatively – The idea-forming stage
- Evaluation – Weighing up the pros and cons of each of the creative ideas formulated in step 2
- Development – Expanding on an idea and considering strategy and logistics
- Presentation – Briefing the client or management with the full idea
- Implementation of Changes – Revisions are made based on feedback
Ultimately, the entire process of value engineering is one of creativity, data analysis and collaboration. Here at Sheard Packaging, we take the innovative approach, ensuring that the focus isn’t purely on costs, but that it’s balanced with a forward-thinking, fit-for-purpose goal.
Value is a priority here at Sheard, but innovation is an integral part of our philosophy- we don’t cut corners! This is thanks to continued investment and an incredible design team which means that we can create and manufacture industry-leading, innovative packaging solutions, at a comfortable price point.
Our Innovation & Design Centre (iDC) is where all of our projects begin, from new product development to value engineering and optimisation. As a custom-built design facility, the iDC is just the latest in a long line of investments at Sheard, with the aim of enabling our customers to get the optimum level of value from their packaging products.
What are the benefits of value optimisation for brands?
First and foremost, value optimisation with Sheard Packaging means you get a full-service package. That includes our iDC and the expertise of our NPD and design teams. Furthermore, decisions can be made quickly with us, due to our independent status, and this provides your company with the flexibility it needs in its optimisation journey. Our flexible and customer-first approach means that we are able to make continuous improvements and can tailor the approach to your own definition of value.
We also understand the wider market at Sheard Packaging, and therefore have an acute awareness of the importance of getting the price right- value is also dependent on your competitors and external economic factors, like the rising cost of living, for example. Therefore, we can help your brand stand out with regards to value, while maximising your profit margins where possible.
Are there benefits of value engineering for consumers?
It’s one thing creating innovative product packaging with the hopes of defining your brand image and maximising profit, but where does the consumer fit into all of this? The lower price of our value optimised manufacturing processes means that these prices can filter down to the consumer, resulting in a competitive, affordable end product. The aim is to reduce cost, without changing the customer experience (unless for the better!).
A great example of value engineering and packaging innovation leading to benefits for consumers can be seen in the ecommerce sector. We’re able to design and manufacture value-engineered online transit cases, without compromising on branding and that unmistakeable ‘wow factor’ of the unboxing experience.
Benefits of value engineering for supply chains
Businesses and customers are not the only ones to see benefits from value engineering- supply chains do too. More specifically to Sheard, our pallets are easily loaded, stacked, transported and disposed of or recycled. This boosts not only the efficiency of operations and logistics, but also the sustainability of value engineering, whereby pallets can be easily recycled and damage is minimised to products on their journey, reducing the net wastage in the FMCG and chemical & pharmaceutical sectors, for example.
In light of the UK’s introduction of the Plastic Packaging Tax (PPT) in April 2022, value-optimised, sustainable options are the way to go, boosting sustainability for businesses and across the supply chain as a whole.
At Sheard Packaging, we offer a whole range of services as a reputable and long-standing packaging manufacturer, including value-engineered, innovative product packaging. To find out more about how we can help your business fulfil its innovative packaging requirements and save on costs, please get in contact with our friendly team on 01422 373649 or [email protected], or fill out our contact form.