Value Analysis

Format

Multimedia Presentation with Exercises and Examination(s)

Description/Objectives

Value Analysis is a systematic approach to evaluating the cost of a product or service in light of the expected function required by the customer. It is focused on identifying unnecessary processes, steps, and materials as a way to reduce total procurement costs without sacrificing quality. Value Analysis can also be used to optimize organizational and supply chain costs.

After this course, you will be able to:

  1. Use value analysis to streamline supply chain operations and reduce costs
  2. Understand the fundamentals of value analysis and value management
  3. Complete projects using the value analysis process
  4. Demonstrate the skills to develop plans and apply value analysis to their respective purchasing categories and organizations

Modules

  • Module 1. Definition of Value Analysis
    • Value analysis process
  • Module 2. Value Management
    • What creates value?
    • Mapping the value stream
  • Module 3. Value Engineering and Value Analysis
    • Functionality versus cost
    • Following the process
    • Determining solutions
  • Module 4. Managing the Value Analysis Process
    • Implementing the process and solutions