Value Stream

Value Stream

All changes made during the production of a product between its conception and sale. The term implies that each change adds value, but this is not necessarily the case.
References in periodicals archive ?
For MIP, the value stream cost analysis highlighted the fact that the transition to lean production reduced waste and increased the amount of idle capacity.
Value stream costing allows the development of costing systems based on the value stream, not individual products.
Kristopher Langdon is Benchmade's new value stream manager for component pieces that cross product lines.
Rather than categorizing costs by department, they organize them by value stream, which includes everything done to create value for a customer the company can reasonably associate with a product or product line.
edu) will present a keynote presentation, "Transforming the Lean Enterprise Value Stream," on May 6, as part of NEPCON East/Electro and Assembly East.
The Lean Enterprise Institute (LEI), a nonprofit research, education, publishing, and conference company with a mission to advance lean thinking around the world, today announced publication of the second edition of its pioneering workbook Seeing the Whole Value Stream by lean management thought leaders James Womack and Daniel Jones.
This capacity issue affects the entire value stream from vendor tooling suppliers to Tier 1 suppliers and OEMs.
Books co-authored by Womack and Daniel Jones include: The Machine That Changed the World (with Daniel Roos), Lean Thinking, Seeing The Whole: mapping the extended value stream, and Lean Solutions.
Value Stream Mapping (VSM) is a production strategy that involves identifying the value of each product, and streamlining operations around that product to improve the bottom line.
The Lean community calls them value stream maps--I call them treasure maps.
A continuous process improvement (CPI) tool called value stream mapping (VSM) has been used effectively over the last decade to help organizations visualize their key processes so as to expose problems of waste and to plan improvements.
Each value stream team is represented by one value stream manager.