- Value Engineering is often used as the next lever to generate savings in companies who have a relatively high maturity level within sourcing and procurement.
- Through a simple process the product and related supply chain are being scoped, analysed, value engineered and implemented.
- Keywords to successful Value Engineering are:
Overview of cost break down and cost drivers.
Knowing the voice of the customer, - and customer needs.
Innovative and empowered cross functional teams.
Capabilities to go from idea generation to implementation, combined with Top Management support
Programme management to keep track on progress and performance
- Using Value Engineering helps companies towards reduced complexity on products, "should be cost" and "fact based" sourcing.