34th INVEST International Coference 2018 Mumbai: Tata Technologies wins KSRM Sastry Award for VAVE Capabilities
Tata Technologies bag KSRM Sastry Award for VAVE capabilities at the 34th INVEST International Conference held in Mumbai
Global engineering services provider Tata Technologies bags KSRM Sastry Award for its Value Analysis and Value Engineering (VAVE) for demonstrating the best utilisation of Function and Creativity at the 34th INVEST International Conference held on December 7-8 in Mumbai.
KSRM Sastry Award
The KSRM Sastry Award is aimed at motivating value practitioners about the best utilisation of ‘Function and Creativity’ to derive the best solutions. What is more the award is conferred on 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”, while 56 organisations, consisting of the top OEMs and Tier-I 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 optimised 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 a year) product.
While speaking at the event, Ashutosh Vaidya, Chief Delivery Officer, Tata Technologies, said: “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.”
Indian Value Engineering Society (INVEST), a society which has been serving Indian professionals for more than four decades by disseminating specialised knowledge of well-established and proven techniques of Value Engineering organised the 34th INVEST International Conference. INVEST is affiliated to the Society of American Value Engineers (SAVE) International, the US. Tata Technologies makes product development dreams a reality by designing, engineering, and validating the products of tomorrow for the world’s leading manufacturers. With more than 8500 professionals serving clients worldwide, Tata Technologies is the manufacturing industry’s premier partner for advanced engineering, research and development, product life cycle management consultancy and software, and connected enterprise IT solutions.