Value Analysis
Value Analysis is the systematic process in procurement to understand and optimize the total cost of ownership, identifying potential areas for cost reduction and efficiency improvements while ensuring quality, performance, and strategic objectives are met.
Level 1: Emerging
At an emerging level, you are beginning to comprehensively assess suppliers and products, identifying potential savings and opportunities in procurement to maximise overall business value.
Level 2: Proficient
At a proficient level, you are skilled in conducting Value Analysis within the Procurement process, effectively identifying cost-saving opportunities and increasing overall value for the organization through strategic decision-making and negotiation.
Level 3: Advanced
At an advanced level you are able to perform complex value analysis within the procurement process, identifying cost-saving opportunities, maximizing value for money, and driving continuous improvement in supplier relationships.
