Page 155 - DMGT525_MATERIALS_MANAGEMENT

Materials Management

Notes 10.9 Review Questions

1. What do you mean by the concept of value?
2. Explain value analysis process in detail.

3. Describe value improvement process.
4. Briefly explain the various applications of value analysis.
5. Describe value analysis method.
6. What is the main objective of value analysis?
7. What is Function Cost Matrix?

8. What do you understand by Function Analysis System Technique?
9. Illustrate Function Analysis System Technique (FAST) with a diagram.
10. How would you create a FAST model?

11. Briefly describe clustering functions.
12. Explain organization for value analysis.

Answers: Self Assessment

1. Product 2. Value
3. Basic 4. General Electric
5. Verb, Noun 6. Divergent

7. Single 8. Performance
9. Components 10. Percent
11. FAST 12. Innovative
13. Universally 14. Monopoly

15. Staff
10.10 Further Readings

Books Ramakrishnan. R V, Tony Arnold. J R (2007). “Introduction to Materials Management”.
Pearson
K. Shridhar Bhat, “Production and Materials Management”. Himalaya Publishing
House
Chary. S.N., “Production and Operations Management”. Tata McGraw Hill
Gopalkrishanan. P, Sundaresan. M, “Materials Management: An Integrated Approach”.
PHI Learning Pvt. Ltd.

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