CPIM Practice Exam

The systematic techniques used in value analysis are used to:

1. Evaluate employee performance

2. Identify required functions and establish value

3. Develop marketing strategies

4. Analyze market trends

The correct answer is: Identify required functions and establish value

The systematic techniques employed in value analysis focus on identifying the necessary functions of a product or service and establishing the value associated with those functions. This approach is designed to optimize the balance between the cost of providing a function and the value it delivers, ultimately enhancing the functionality and performance of a product while reducing unnecessary costs. Value analysis is particularly beneficial in product design and development, as it helps generate ideas for improvements and spot opportunities for cost reduction without sacrificing quality. By systematically evaluating what needs to be included in a product or service, organizations can prioritize features that add the most value to the customer, ensuring that resources are allocated efficiently. The other options relate to important aspects of business but do not align with the primary focus of value analysis. Evaluating employee performance, developing marketing strategies, and analyzing market trends pertain to different functional areas and methodologies that do not specifically address the core principles of value analysis.