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Value Analysis / Value Engineering (VA/VE) is an approach that enhances decision making, improves products and processes and increases customer satisfaction.
VA
Value Analysis examines current products in an effort to detect and correct value problems and reduce costs. VA is part of our
Growtth® program for continuous improvement.
VE
Value Engineering focuses on new products and helps identify and prevent value problems before production. VE is an important part of our product development process, Advanced Product Quality Planning (APQP).
VA/VE Objective
The objective of VA/VE is to improve value. It can be defined by this expression:
Value = Function ÷ Cost
VA/VE complements our Growtth program by continually striving to eliminate waste or unwanted functions and cost in product design.
Since the VA/VE program’s inception in 1995, more than $45 million in annual savings and performance improvement has been uncovered for Freudenberg-NOK and its customers.
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