Lean Manufacturing

Lean manufacturing refers to a business model where overall profit is maximised in manufacturing systems and, at the same time, process waste is minimised. 

This model of operation has 5 main principles that include

Identifying Value:

Identifying value comes down to understanding what customers need, how they need what they need, and what it is worth.

Mapping Out Value Streams:

This principle involves mapping out all the steps necessary for producing what the customer needs. 

Creating Continuous Workflow:

After figuring out the necessary steps, the next lean management principle involves initiating a nonstop production process. 

Establishing a Pull System:

A pull system lets businesses produce their inventory on the spot and in the quantities necessary only during manufacturing. 

Facilitating Continuous Improvement:

The last principle in lean manufacturing ensures that businesses continue to get better at the lean manufacturing process. 

Note

Lean management presents advantages such as reduced waste, reduced cost of production, improved, quality control, enhanced efficiency, and greater business valuation score. 

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