Study and Analysis of Cost Reduction Techniques in Press Part Production: A Case Study of Stamping Unit

In this paper, industrial engineering and management tools like TQM, TPM, JIT, Value Analysis & Value Engineering, Lean manufacturing, Kaizen etc. have been studied and analyzed for cost reduction in a specific production process of an auto ancillary industrial firm. For this a case study was performed on sheet metal stamping process of LCV/HCV body parts at XYZ Company at Pithampur (Indore) M. P. . A survey in interview form was conducted among managerial and engineering professionals from various similar type industries. The survey is based on cost reduction techniques, related challenges, market role etc. Attempts have been made to investigate the role of vendors in cost reduction and the problems faced from their side. Application of job plan in investigating the problems in waste management by scrap utilization has also been studied. The outcomes have been analyzed and discussed in details.