Value Engineering to Optimize Projects, Products, and Processes

How to add value, where to improve and why

Program Description:

Value Engineering and Analysis in Supply Management: Optimizing Projects, Products, and Processes is a seminar that provides an introduction to the principles of VA/VE in the supply chain. The focus of the program is on how supply managers and buyers can apply these concepts in their organizations to realize cost improvements and waste reduction while enhancing value for the end customer. Discussions will also cover leveraging supplier expertise to accelerate the realization of increased supply chain value. The faculty instructor for this program is a Certified Purchasing Manager and a globally renowned thought leader in supply chain management–and is The Negotiation Institute industry expert in e-Purchasing, logistics, supply chain sourcing strategies, and supply management negotiations. He has had engagements with large corporations such as At&T, Corning Inc., Dunn & Bradstreet, Ericcson, Fisher Scientific, Motorola, General Electric, Pitney Bowes Inc., Siemens, MARS, SAFT America, EMC, and Kimberley Clark in the United States, Europe, Australia and Saudi Arabia. He is also a Professor of Purchasing & Supply Chain Management, where his primary academic and consulting interests are in the areas of supply chain risk, global sourcing, relationship/talent management and utilizing social media in supply management. After earning a bachelor’s degree in industrial engineering from Purdue University, this instructor began a successful career with Westinghouse, purchasing commodities such as steel, copper and insulation for large power transformers in excess of $36 million.

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  • Topics:
    • Value Analysis/Value Engineering in the Supply Chain: Value; Function; Cost/Price; Driving value into the supply chain; Benefits of VA/VE
    • The Value Concept: Identifying the types of value; Focusing on value versus price; Relating value to cost; Value and its effect on the customer; Helping marketing sell value
    • The Underlying Concept of Function: Evaluation of Function; Techniques of Functional Analysis
    • Identifying Candidates for VA/VE: Goods; Services; Processes
    • Areas to Utilize VA/VE in the Supply Chain: New Product Design Standards; Programs
    • Operational processes; Service processes Business processes
    • The VA/VE Model: Information; Speculation; Analysis; Decision & Implementation; Follow-up & Audit; Celebrate Success
    • Implementing VA/VE in the Supply Chain: Selling top management; Developing/Structuring the team; Conducting the project (Analysis and charting techniques, Using Creativity and innovation, Including green value initiatives); Rewarding the players; Capturing and reporting results
    • Supplier Collaboration in VA/VE Efforts: Supplier involvement in early design efforts; Conducting supplier clinics; Rewarding suppliers for creativity
    • Roadblocks and Problems
    • Case Studies and Analysis
  • Key Takeaways:
    • More effectively frame the specific issues that need to be addressed in regards to price, contract terms, and specific requirements
    • Develop key alternatives to and establish objective outcomes
    • Build relationship capital over time that will encourage suppliers to engage earlier and provide improvements
    • How to add value, where to improve and why
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