The Impact of Value Engineering on Company Performance in the Automotive Industry in Kuwait

Abstract

The automotive industry in Kuwait faces significant challenges in maintaining competitiveness and operational efficiency in an increasingly complex and globalized market. Value engineering (VE), a systematic method for improving the value of products or services by analyzing function, has emerged as a critical tool for enhancing company performance. Despite its potential, the application of VE in the Kuwaiti automotive sector remains underexplored, and its impact on company performance is not well-documented. This systematic review aims to synthesize existing empirical research on the relationship between value engineering practices and company performance in the Kuwaiti automotive industry. The review follows the methodology guidelines outlined in the Joanna Briggs Institute (JBI) Methodology for Systematic Reviews and is reported according to the PRISMA 2020 guidelines. The review protocol was registered with PROSPERO (ID CRD42021277463). The guiding question was formulated using the PEO (population, exposure, and outcome) format, with "P" representing the automotive industry in Kuwait, "E" representing value engineering practices, and "O" representing company performance. The findings highlight the significant benefits of integrating value engineering with lean practices, digital transformation, and other methodologies to enhance operational efficiency, reduce costs, and improve overall company performance. However, there are still research gaps that need to be addressed, particularly concerning the long-term impact of these practices, stakeholder perspectives, and the integration of multidisciplinary approaches. By adopting a comprehensive approach and conducting further empirical research, the Kuwaiti automotive industry can achieve sustainable competitive advantages and meet the evolving demands of the global market.