(Ticaret) The organized use of methodologies that focus on the function of a material, process or service in providing value to the customer. It attempts to define cost, quality and customer acceptance parameters in determining the value and possible redesign or reengineering of a given function
A structured, systematic and analytical process, which seeks to determine value for money by providing all the necessary functions at the most economic cost, consistent with required levels of quality and performance
An approach to cost reduction in which components are studied carefully to determine if they can be redesigned, standardized, or made by less costly methods of production
The organized use of methodologies that focus on the function of a material, process or service in providing value to the customer It attempts to define cost, quality and customer acceptance parameters in determining the value and possible redesign or reengineering of a given function
An activity devoted to optimizing cost performance It is the systematic use of techniques which identify the required functions of an item, establish values for those functions and provide the functions at the lowest overall cost without loss of performance (optimum overall cost)
In manufacturing, an analysis to determine the most economical method of manufacturing, taking into account the cost and the process capability of alternate manufacturing systems under consideration, their degree of variation, the benefits of the resultant product, and desired quality and production quantity and rate