Which of the following statements best describes the benefit of Value Added/Valu

Question

Which of the following statements best describes the benefit of Value Added/Value Engineering?

Select one:

b. Companies can confidently claim they have a product with the highest "value" on the market.

c. Co-development ensures that intellectual property is protected among the manufacturer, suppliers and the customer.

d. By eliminating potential issues in both design and manufacture the cost of the good/service is reduced as well as the time to market.

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Your answer is incorrect.

The correct answer is: By eliminating potential issues in both design and manufacture the cost of the good/service is reduced as well as the time to market.

Please explain

Explanation / Answer

d. By eliminating potential issues in both design and manufacture the cost of the good/service is reduced as well as the time to market.

Value addition or value engineering is generally maximizing the output by utilizing the resources and also by reducing the risks as well. Therefore the cost can be reduced with such effects and applications as well.

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