interactive
Lean Manufacturing: Value and Waste
Vector Solutions
Updated Nov 23, 2024
What you'll learn
- Define value and waste Identify how companies may misinterpret definitions of value and waste
- State the difference between value-added activities and non-value-added activities
- Identify costs and activities that are required for business function
- Describe how companies can benefit from increasing customers' perceived value of a product List the benefits of eliminating wastes along the entire process
Course DescriptionValue represents the need of the customer, the voice of the customer. If companies don't pay attention to value, they may end up with unhappy customers walking away from them, resulting in a low brand reputation. Lean thinking enables companies to understand what customers are willing to pay for. If it is of no value to customers, then it is considered waste. Waste consumes energy, money, and is of no value to the customer. This interactive online course provides an approach to how Value and Waste are perceived by customers and how to remove steps that do not create value, promoting only those activities that do provide value.
