Value Analysis is the study of the features of an item and their corresponding cost concerning its ability to perform a function or render a service, on the other hand, Value Engineering is a technique for product or process function, this technique will provide significant information to the overall function of the product and process. This also provides information about the reduction or elimination of cost for those functions that do not add value to the process or product. A systematic approach is applied to maintain the required quality and reliability of the product or process. The design of the stainless steel rack was based on manual and automated operation, similarly, the fabrication process will merely depend on the design. The design of the product and process were analyzed based on the six criteria: VA/VE on Material, VA/VE on Product, VA/VE on Process, Material Handling Cost, Waste/Emission, and Life Cycle Cost. The two designs were analyzed based on the Trade-Off Analysis based on the perspective of the designer and customer. The results of the design evaluation for stainless steel overall satisfy VA/VE approach. This study recommends 304 stainless racks which have higher corrosion resistance, good mechanical properties, and the least life cycle cost compared to 430 materials. Total Cost savings will be achieved using 304 stainless steel