Question

What is value analysis? How can the concept be expanded?

Answer 1

Value analysis is nothing but understanding the value of a product or service by summing up the value of individual components that are used to make up so that you can actually understand how to decrease or increase the value of a particular product by changing value of individual components on the whole.

In the analysis, the expansion includes the primary activities like inbound logistics, outbound logistics sales and marketing, services and operations and in the value analysis used to calculate the value added by each and every activity and this is all part of Porters Value Chain. This primary activities are actually assisted by secondary activities like human resources, Technology infrastructure and procurement. this process enables the entire product to go very smoothly and increase the efficiency as much as possible