Lecture 13

Question 1

Value Engineering

Answer 1

Increase the value of an item or service at the lowest cost without sacrificing quality

Question 2

Ways to Increase Value

Answer 2

Increase functionality while holding cost constant
Reduce cost without reducing functionality
Increase functionality more than increasing cost
Increase service more than increasing costs

Question 3

Who is involved in VA/VE

Answer 3

Executive management
Suppliers
Supply management
Design engineering
Production
Industrial/process engineering
Quality control
Marketing
Distributors

Question 4

Learning Curve

Answer 4

As production doubles, direct-labor requirements decline by a predictable rate

Question 5

Learning Curves are most effective when:

Answer 5

Using a process for the first time
Producing a product for the first time
Item has a high direct labor content
Human factors must remain fairly constant over time

Question 6

Value Engineering/Value Analysis

Answer 6

Asking a series of questions to determine the value of an item in viewpoint of the customer