Within the context of product development and manufacturing, Lean management is essentially an efficient means of controlling production costs and maximizing profit over the product life cycle while avoiding and reducing defects and scrap (wasted effort, time, and resources). Waste typically occurs in the form of excess inventory, production, resources, or processes. This is valid for the manufacturing industry but is applicable to other industries as well, though the terminology may change.
There are eight areas of waste defined in Lean management:
- Transport: Moving people, products, and information
- Overproduction: Producing more than is immediately required
- Waiting: For parts, information, instructions, resources, and equipment
- Inventory: Warehousing parts, pieces, and documentation ahead of requirements
- Skills: Underusing staff capabilities or delegating tasks beyond scope and training…
To read more, please go to ScrumAlliance.org >>