As a result of many years of increased competition, there are more similar, but also cheaper and/or better performing products on the market. Because of this, the margins and numbers have come under pressure. And with the rise of innovative low-wage countries such as China, the end of the growing competition is still not in sight. A good solution to stay competitive is integral value engineering.
In this article, I will describe how you can identify the opportunities for value engineering and define the value engineering project.
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