Product Suite

Supply Chain Glossary - V

Supply Chain Glossary - V

value engineering and/or analysis

A disciplined approach to the elimination of waste from products or processes through an investigative process that focuses on the functions to be performed and whether such functions add value to the good or service.

The processes of creating, producing, and delivering a good or service to the market. For a good, the value stream encompasses the raw material supplier, the manufacture and assembly of the good, and the distribution network. For a service, the value stream consists of suppliers, support personnel and technology, the service "producer," and the distribution channel. The value stream may be controlled by a single business or a network of several businesses.

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