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What is the purpose of sending value engineering analysis to external suppliers?
Suggested Answer: A
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Explanation
Value engineering is often applied to new products or services. Early supplier involvement (ESI) is the involvement of a supplier in the product development process from a very stage in order to use the supplier's experience and expertise. ESI can bring cost reduction opportunities, process improvements, supply chain improvements and reduce supply risk. Both processes focus on development of new product or service. They tend to work the best if they are used together.
LO 3, AC 3.1 & AC 3.4
12 comments · newest first
PH
Phung
2 months ago
C makes sense too. Analyzing the supply market helps decisions.
BR
Broderick
3 months ago
I lean towards B. Improving products is always a goal.
BA
Barrett
3 months ago
I think it's A. Early supplier involvement is crucial.
CH
Chantell
3 months ago
Surprised it's not just about improving existing products!
BA
Basilia
3 months ago
Really? I didn't think suppliers would care about our value analysis.
JI
Jill
3 months ago
Definitely helps in standardizing production processes too.
CH
Chaya
4 months ago
I thought it was more about analyzing the supply market?
FL
Flo
4 months ago
It's mainly to improve early supplier involvement!
CA
Carlton
4 months ago
I’m leaning towards standardizing production processes, but I need to think more about how that relates to value engineering.
JU
Justine
4 months ago
I feel like improving existing products could also be a reason, but it seems less likely than the others.
OL
Olene
4 months ago
I remember a practice question that mentioned analyzing the supply market, so maybe that's the right answer?
WI
William
4 months ago
I think the purpose might be to improve early supplier involvement, but I'm not entirely sure.