Advantages of Value Analysis

  1. A high customer orientation, focusing on those aspects of the product/service that better satisfy customer needs.
  2. Allows enormous cost reductions by eliminating functions that do not satisfy customer requirements/needs
  3. VA improves profitability of products.
  4. New ideas that arise from the creativity/innovation phase, may add radical changes.
  5. VA provides a process to systematically improve the existing goods and services. It builds value into a product or service.
  6. VA process is used to offer a higher performing product or service to a customer at a minimal cost.
  7. VA process is, therefore, one of the key features of a business that understands and seeks to achieve TQM in all that it does to satisfy customers.
  8. VA process often allows to root out practices that have grown out of date and can be replaced with more modern approaches.
  9. VA can uncover design flaws that not only operate inefficiently but also create problems. In the case of a product, this could mean a high rate of malfunctioning items, creating customer complaints and warranty claims that put a strain on personnel and inventory departments.
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