At which step of the procurement process would a company be MOST likely to carry out a value analysis?
A) Problem recognition
B) General need description
C) Information/supplier search
D) Product specification
E) Proposal solicitation

Question

Quizplus · Accepted Answer

Value analysis is typically carried out during the product specification stage of the procurement process, where the company determines the specific requirements and features they need in the product. This step involves analyzing the costs and benefits of each feature to ensure that the product meets the company's needs while also providing value and minimizing costs.

At Which Step of the Procurement Process Would a Company