“V” Improvement Terms

Value added work consists of the tasks that a customer is willing to pay for. Generally this is something that changes the form, fit, or function of raw materials. Note that it is very important to consider value from the customer perspective. In some cases, they will value something that Read more…

Value stream analysis is one of the steps in the value stream mapping process. The first step is to create a current state value stream map. This is simply a snapshot in time of the current conditions of an organization. Once the map is complete, however, you must decide what Read more…

Value, simply put, is something that a customer is willing to trade for. The trade is most commonly done with cash, meaning that a customer is willing to pay for it. Not all things that are valued are paid for, though. Consider the numerous free downloads on websites (including our Read more…

Visual management is the concept of creating a more effective workplace by making its current conditions obvious at a glance. But visual management doesn’t stop there. For it to be effective, there must also be a predetermined course of action when a specific (whether normal or abnormal) condition is identified. Read more…

A value stream is the series of activities that take a product from the supplier to the customer (for a physical product), or from the customer request to filling that need (for a service or informational product). It includes all the value-adding processes that the company performs in the Lean Read more…