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Value in marketing, also known as customer-perceived value, is the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others. Value may also be expressed as a straightforward relationship between perceived benefits and perceived costs: Value = Benefits - Cost .
The SCOR model describes the business activities associated with satisfying a customer's demand, which include plan, source, make, deliver, return, and enable. Use of the model includes analyzing the current state of a company's processes and goals, quantifying operational performance, and comparing company performance to benchmark data.
A value stream is the set of actions that take place to add value to a customer from the initial request through realization of value by the customer. The value stream begins with the initial concept, moves through various stages of development and on through delivery and support. A value stream always begins and ends with a customer.
Value Delivery Modeling Language (VDML) is a standard modeling language for analysis and design of the operation of an enterprise with particular focus on the creation and exchange of value. [1] [2] In 2009, the Object Management Group (OMG) launched a Request for Proposal (RfP) to develop a standard for value modeling. The goal of this RfP is ...
Quality, cost, delivery (QCD), sometimes expanded to quality, cost, delivery, morale, safety (QCDMS), [1] is a management approach originally developed by the British automotive industry. [2]
Value engineering can lead to the substitution of lower-cost materials, as with the exterior cladding that accelerated the Grenfell Tower fire in London. [1] [2]Value engineering (VE) is a systematic analysis of the functions of various components and materials to lower the cost of goods, products and services with a tolerable loss of performance or functionality.
A value chain is a progression of activities that a business or firm performs in order to deliver goods and services of value to an end customer.The concept comes from the field of business management and was first described by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance.
Data vault modeling was originally conceived by Dan Linstedt in the 1990s and was released in 2000 as a public domain modeling method. In a series of five articles in The Data Administration Newsletter the basic rules of the Data Vault method are expanded and explained.