Value

Value Definition

Value is

    • WHAT the customer needs (Product or Service)
    • WHEN does he (customer) need (Delivery Time)
    • HOW MUCH does he need (Quantity)
    • WHAT STANDARD does he need (Quality)

Measure of Value

Customer's Expectations and Activities (Explained)

A Typical Business Cycle

Value Added (VA), Non Value Added (NVA) & Essential Non Value Added (ENVA)

VA, NVA, ENVA

Further Reading on Value

  1. Value

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