Value Stream Mapping and Its Profitable Applications

Program Management

Introduction

The value stream mapping is a tool used in lean manufacturing process for documenting and analyzing every step with detailed information of the process. It is considered to be a useful tool for identifying the waste and by reducing the cycle time of the processes. Some organizations may identify this process as the benchmark of the lean efforts of the manufacturing process.

Basic Concept

The Value Stream Mapping is a special kind of flowchart that uses different diagrams and symbols for identifying and improving the inventory flow with information. The symbols used in the flowchart are mostly known as the ‘language of lean’. It can provide the optimum value to the customers by adding value and reduction of wastes. It can therefore design, build and sustain throughout the lifecycle of the product or the service.

How the Tool can be used in Your Business?

Prepare for High Cost of Participation:

Though value stream mapping can be considered as the efficient process, you should be prepared for its high cost.

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