What is the product by value analysis?

The value analysis technique supported cost reduction activities by relating the cost of components to their function contributions. Value analysis defines a “basic function” as anything that makes the product work or sell. A function that is defined as “basic” cannot change. read more

Value analysis is an organised approach to identify unnecessary costs associated with any product, material, part, component, system or service by analysis of function and efficiently eliminating them without impairing the quality functional reliability or its capacity to give service. read more

Value analysis is oriented to weigh costs and the benefit to customers of a product or service. It forces you to consider every aspect of a process in the context of how it serves the customer, which could be a consumer or another business. read more