A management technique that performs functional analysis of a product or service to achieve the necessary functions at the lowest life cycle cost. Its core concept is from the customer’s point of view, tap the potential value of products, through improving efficiency, improving quality and reducing costs and other measures to increase the added value of products.

Value Analysis ‌ : Innovate the value and cost around the realization of the necessary functions of the product, and find out the place that can be optimized by analyzing the functions and costs of the product.

Value Engineering ‌ : The continuous analysis and improvement of design structures, processing methods, and manufacturing processes to reduce costs without compromising product quality.