value analysis
Definition 1
Manufacturing: Systematic analysis that identifies and selects best value alternatives for designs, materials, processes, and systems. It proceeds by repeatedly asking “can the cost of this item or step be reduced or eliminated, without diminishing the effectiveness, required quality, or customer satisfaction?” Also called value engineering, its objectives are (1) to distinguish between the incurred costs (actual use of resources) and the costs inherent (locked in) in a particular design (and which determine the incurring costs), and (2) to minimize the locked-in costs.
Definition 2
Purchasing: Examination of each procurement item to ascertain its total cost of acquisition, maintenance, and usage over its useful life and, wherever feasible, to replace it with a more cost effective substitute. Also called value-in-use analysis.
value analysis is in the Accounting & Auditing, Decision Making, Problem Solving, & Strategy, Industries, Manufacturing, & Technology and Purchasing & Procurement subjects.
value analysis appears in the definitions of the following terms: value added analysis, value engineering, value management, value in use analysis and procurement
value analysis appears in the other terms: critical value analysis, usage value analysis, activity value analysis
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