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Time maps show work that adds value in the eyes of the customer (value added work), where time is wasted due to delays, work in progress etc. (non value added work) and work that the customer does not necessarily pay for, but it is required for accounting / legal purposes (required waste). From this data we can calculate the process efficiency cycle.
Value stream maps take this principal a stage further and also look at other types of waste such as:
This exercise is often displayed visually using a Value stream map, which can highlight areas for potential improvement.
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