Have you tried Value Engineering/Value Analysis for cost reduction? If not, why not?

What is Value Analysis? It is an orderly and creative method to increase the value of an item. This ” item” can be a product, a system, a process, a procedure, a plan, a machine, equipment, tool, a service, or a method of working. Value Analysis, also called Functional Analysis was created by L.D. Miles of General Electric Company. Value of an item = performance of its function / cost https://cerasis.com/value-analysis-technique/