![]() One delay can ripple throughout the entire chain and slow the entire process. Waiting – This can affect nearly every step of the supply chain.These managers should perform strict research on past purchases, market trends, and customer requests to only produce what the customer needs. Overproduction – Companies do not need too much product on hand, only what the customer needs.Managers should evaluate where the flaws or mistakes take place then they can develop and enact a plan to remove them. Defects – These can be flaws in products or mistakes made in other areas like shipping.Seek Perfection – At this stage, all causes of defects or sub-par quality is eliminated from the manufacturing process.Establish Pull – Companies should not produce anything until the customer asks for it.Any portion of the stream that is stagnant is wasteful and should be removed. Create Flow – Flow is when a value stream operates smoothly.Understanding each step can guide companies on where the most value is and also determine the flow of the product/service’s life cycle. Map the Value Stream – A company should understand a product or service’s entire life cycle from production through purchasing to the end of the life cycle.Find out what parts of the product or service are valuable to the customer in relation to how it meets their wants or needs. Identify Value – This is from the customer’s perspective.Each of these principles are part of a cycle that companies can use to constantly improve their processes or organization as a whole. They include: Identify Value, Map the Value Stream, Create Flow, Establish Pull, and Seek Perfection. There are five principles that make up Lean Management. At the same time, they can determine what does not add value and eliminate it. That way, the company can look over their own processes and determine what is worthwhile and focus on improving that. They discovered one of the most important things a company can do is to look at their product or service from their customer’s (or end-user’s) perspective to see what is of value to them. It was first discovered in 1930s Japan and was perfected by the Toyota Motor Company in the 1980s. Lean Management is a philosophy of continuous improvement where companies maximize customer value while minimizing waste. ![]()
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