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What is value analysis for products?

What is value analysis for products?

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Answer #1

In value analysis, the value of a product is intended to be increased by understanding the components of the products and their costs. In value analysis, the value of a product is increasing by either reducing the costs of the components or increasing their value. Value analysis is a systematic process and it involves the following six stages:

  • orientation/preparation
  • information
  • analysis
  • innovation/creativity
  • evaluation and
  • implementation and monitoring
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