Numerous green regulations currently require companies to be responsible for their effect on the natural environment, in addition to achieving their economic goals. In view of this, many companies have implemented the ISO14001 system in their supply chain to comply with green regulations. However, implementing such a system involves technical and communication efforts; hence, an effective method is needed to support the implementation. In this paper, the authors propose a value engineering (VE)-based model with quality tools to support the implementation of the ISO14001 system in the Green Supply Chains. In it, they applied the framework of VE with the quality engineering tools Fishbone Analysis and Failure Mode Effect Analysis for the qualitative and quantitative analysis of green issues in supply chains to cover quality, risk, and value of the system. The proposed method was applied to a global electronics manufacturing company in Taiwan, and the application results showed positive outputs in terms of CO2 emission, power consumption, water consumption, and waste water recovery. Based on the evidence, academic and industrial implications are discussed.