Value Analysis Concepts and Methods

<p>Cross-functional collaboration for diverse ideas. (C)</p> Signup and view all the answers

<p>Reduces unnecessary costs while enhancing product quality. (C)</p> Signup and view all the answers

<p>Reduce the cost of packaging while maintaining protection. (A)</p> Signup and view all the answers

<p>Automated repetitive tasks. (D)</p> Signup and view all the answers

<p>Analyze Alternatives (C)</p> Signup and view all the answers

<p>Idle time during production processes. (A)</p> Signup and view all the answers

<p>To ensure alternatives meet defined standards. (C)</p> Signup and view all the answers

<p>Define Objectives. (B)</p> Signup and view all the answers

<p>Implementing Lean Manufacturing techniques. (A)</p> Signup and view all the answers

<p>Overproduction. (B)</p> Signup and view all the answers

<p>Establishing financial plans. (A)</p> Signup and view all the answers

<p>Reduction in packaging cost by 30%. (B)</p> Signup and view all the answers

<p>Maintaining outdated equipment. (A)</p> Signup and view all the answers

<p>High labor involvement (C)</p> Signup and view all the answers

<p>Batch production (C)</p> Signup and view all the answers

<p>Automobile manufacturing (D)</p> Signup and view all the answers

<p>Increased efficiency and improved output quality (D)</p> Signup and view all the answers

<p>Scalar Process (C)</p> Signup and view all the answers

<p>High initial setup cost (B)</p> Signup and view all the answers

<p>By avoiding unnecessary expenses (C)</p> Signup and view all the answers

<p>A balance of supervision and operational efficiency (C)</p> Signup and view all the answers

<p>Ensuring smooth and efficient manufacturing processes (A)</p> Signup and view all the answers

<p>Faster decision-making and adaptability (C)</p> Signup and view all the answers

<p>Moderate production volume and cost (D)</p> Signup and view all the answers

<p>Culture evolves over time, while climate can change quickly (B)</p> Signup and view all the answers

<p>Minimal human intervention (A)</p> Signup and view all the answers

<p>Leadership quality (D)</p> Signup and view all the answers

<p>Transference of decision-making power to lower levels (B)</p> Signup and view all the answers

<p>Results in higher productivity and better teamwork (C)</p> Signup and view all the answers

<p>To manage materials ensuring their availability in the right quality, quantity, time, and cost. (D)</p> Signup and view all the answers

<p>Planning and Forecasting (A)</p> Signup and view all the answers

<p>By ensuring consistent material standards. (B)</p> Signup and view all the answers

<p>It minimizes material wastage and manages disposal effectively. (D)</p> Signup and view all the answers

<p>Production Department (A)</p> Signup and view all the answers

<p>To establish and maintain reliable supplier relationships. (A)</p> Signup and view all the answers

<p>Material Handling (B)</p> Signup and view all the answers

<p>It ensures real-time alignment with project objectives despite unforeseen changes. (C)</p> Signup and view all the answers

<p>To identify and analyze deviations between planned and actual costs (D)</p> Signup and view all the answers

<p>Activity-Based Costing (ABC) (B)</p> Signup and view all the answers

<p>Limit employee involvement in cost initiatives (D)</p> Signup and view all the answers

<p>Integration across functions (D)</p> Signup and view all the answers

<p>Integrating variance and cost control techniques (B)</p> Signup and view all the answers

<p>Identifying potential overruns early (A)</p> Signup and view all the answers

<p>Encouraging employee involvement in initiatives (D)</p> Signup and view all the answers

<p>To verify adherence to plans (D)</p> Signup and view all the answers

Breaking down large tasks into smaller ones assigned to individuals based on their skills.

A clear chain of command from top to bottom, like a ladder, where everyone is accountable.

Authority divided based on expertise and skills, like different departments in a company.

The number of people a manager can effectively supervise.

Transferring decision-making power from higher to lower levels in the organization.

Decisions concentrated at the top, like a pyramid.

Decision-making power shared among lower levels.

The overall attitude and outlook of employees towards work.

A systematic process of managing materials to ensure they are available in the right quality, quantity, time, and cost for efficient organizational operations.

Predicting material requirements based on production schedules, market demand, and inventory levels.

Sourcing materials from reliable suppliers while focusing on cost-effectiveness and quality.

Safeguarding materials in storage while maintaining optimal stock levels to minimize costs and prevent waste.

Streamlining processes for moving materials within and outside the organization.

Reducing waste, recycling surplus, and managing disposal effectively.

Acquiring materials of the right quality and quantity at the most advantageous price.

Building and sustaining strong relationships with suppliers.

A production method specializing in unique products of high quality, created individually based on specific customer specifications or needs. Examples include custom-made furniture, handmade jewelry, or bespoke clothing.

A production method involving groups or batches of identical products. The same machinery is used for multiple products, but only one batch is produced at a time. Examples include bakery products like bread and cakes, pharmaceutical drugs, or seasonal clothing collections.

A production method involving the large-scale manufacturing of standardized products, often using assembly lines or automated systems. Examples include automobile manufacturing, household appliances, or smartphones.

A production method involving a continuous and uninterrupted manufacturing process, often used where high volumes are needed over extended periods. Examples include oil refining, cement manufacturing, or electricity generation.

A crucial aspect of manufacturing that involves planning and controlling production processes to ensure efficiency, cost-effectiveness, and smooth operations.

A benefit of PPC, where resources like labor, machinery, and materials are used efficiently, reducing waste and idle time.

A benefit of PPC, where planning ahead minimizes unnecessary expenses and ensures timely completion of production.

A benefit of PPC, where communication and coordination between departments like design, manufacturing, and logistics are improved.

A systematic approach to improving the value of products, services, or processes by identifying and eliminating unnecessary costs without compromising quality or performance.

A clear and structured method to guide the VA process, ensuring systematic progress through each stage.

The first step in the VA process involves clearly defining the objectives of the study, identifying the scope, and setting boundaries for the analysis.

The second step in DARSIRI involves a thorough examination of the existing product, service, or process to understand its functions and associated costs.

The third step in DARSIRI focuses on researching alternative approaches to achieve the desired functions, exploring best practices and innovative methods.

The fourth step in DARSIRI involves establishing criteria for evaluating alternatives, such as cost, quality, and feasibility, and prioritizing functions based on customer requirements.

The fifth step in DARSIRI encourages brainstorming and developing creative solutions to enhance value, promoting cross-functional collaboration to generate diverse ideas.

The final step in DARSIRI involves selecting and implementing the most viable solutions identified through the process.

A comprehensive software system used by businesses to manage and streamline their core business processes, integrating various functions like accounting, procurement, manufacturing, inventory, HR, and customer relations into a single cohesive system.

ERP systems integrate various business processes into a single system, allowing different departments to work on the same data, reducing errors, redundancy, and confusion caused by separate systems.

Regularly comparing actual expenditures against the budget to identify deviations and potential overruns early on.

Setting benchmarks for costs and comparing actual performance to identify variances, highlighting areas where improvements can be made.

Reviewing and verifying expenditures to ensure adherence to plans, detecting irregularities and promoting accountability.

Allocating costs based on the specific activities that drive them, providing detailed insights into the true cost of products or services.

Identifying and analyzing deviations between planned and actual costs, highlighting areas where operational efficiency can be improved.

Addressing the root causes of unfavorable variances, implementing corrective actions to prevent similar deviations in the future.

Any activity that doesn't add value to a product or service, for example, waiting, transportation, defects, or unnecessary processing.

Replacing a multi-layer cardboard box with a single-layer reinforced design and introducing biodegradable materials to align with sustainability goals.

Analyzing each step of the manufacturing process, eliminating redundant steps, automating repetitive tasks, and optimizing material flow to reduce handling time.

Producing more than what is needed, resulting in excess inventory and potential waste.

The unnecessary movement of materials or products, leading to increased transportation costs and delays.

Performing redundant or unnecessary activities that don't add value to the product or service.

Holding excess stock or raw materials, increasing storage costs, and potentially leading to obsolescence.

Excessive movement by workers or machines, leading to fatigue, errors, and inefficiencies.