Posted in Operations and Supply Chain Terms, Total Reads: 1538
Definition: Value Stream Mapping
Value stream mapping is a method of presenting processes in the form of one page picture. It includes all the process that occurs in a company, from the time order is placed till it is delivered to the customer.
It identifies all the value adding and non-value adding process in this picture. All the non value adding processes (wastes) can be eliminated by studying the map.
Once the Value stream map is created, it is used as a base for all further improvements and reduction in wastes.
It is currently used as a part of lean practices to analyze and design new processes. Though it is mostly used in manufacturing, it is also used in services and other sectors as well.
Eg: Value stream mapping used in logistic in which the entire process in depicted in the form of pictures and each activity is noted down. One can find out activities which are bottleneck and can be changed accordingly to improve the entire process.