Lean Manufacturing

Posted In: Management

The concept of Lean Manufacturing and has been a hot topic in Management Science. It focuses on the reduction of wastes and the continuous improvement of processes to increase overall customer value. The seven original wastes that this concept aims to eliminate are the following:

  • Overproduction
  • Transportation
  • Waiting
  • Inventory
  • Motion
  • Over Processing
  • Defects

Eliminating these wastes will result to significant increase in a company’s value and decrease in unwanted and useless costs. The concept may seem to be too idealistic but when properly implemented, it will bring your business will definitely succeed. Implementing this approach is one of the best things that a person can do for his business.