MSS405031 - Undertake value analysis of product or process costs in terms of customer requirements

This unit of competency covers the skills and knowledge required by an individual who is required to analyse products and processes to determine the value-adding factors, including design and processing costs that most impact on meeting customer requirements and which may also include competitor benchmarking. The unit also includes implementing identified changes that increase cost-efficiency. The unit may be applied individually or in a team environment.In this unit an individual uses an analysis of the benefits/features which a customer perceives to be in a product or service as a basis for determining appropriate or unnecessary (muda) cost and so identifying and reducing muda (waste).This unit primarily requires the application of skills associated with communication in gathering, analysing and applying information. Problem solving, initiative and enterprise, and planning and organising are required to determine cost-efficiencies. This unit also requires aspects of self-management and learning to ensure feedback and new learning is integrated into costing methods.No licensing, legislative or certification requirements apply to this unit at the time of publication.