What are the most important components of the Lean Management?
Expert Answer
There are 5 key principles of lean management and are the most important components of lean management:
1) Identify Value: Customer’s need for a specific product defines the value. eg. What is the delivery time? What is the price point. These informations are vital for defining value.Every company needs to understand the value that a customer places upon their products and services.
2) The Value stream: The entire flow of the products from the raw material used to disposal of the product is called value stream.Only by having a
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