All activities, both value added and nonvalue added, required to bring a product from raw material state into the hands of the customer, bring a customer requirement from order to delivery and bring a design from concept to launch.
A value stream is a series of all actions required to fulfill a customer's request, both value added and not. A value stream contains a product or a family of products that have similar material and information flows. Value Streams are typically identified using a combination of Pareto Analysis and Process Routing analysis.
a series of processes or events that result in a product a customer is willing to purchase
The activities necessary to produce a product.
The set of specific actions required to bring a specific product through three critical management tasks of any business: Problem-solving, Information management and physical transformation.
A value stream is all the actions, (both value added and non-value added), that are required to bring a product through the main flows essential to nearly every product
The specific activities required to design, order and provide a specific product - from concept to launch, order to delivery.
All tasks and activities needed to transform input materials and information into an output.
The flow of activities required to transform raw materials or information into a product or service for customer use.
The processes of creating, producing, and delivering a good or service to the market. For a good, the value stream encompasses the raw material supplier, the manufacture and assembly of the good, and the distribution network. For a service, the value stream consists of suppliers, support personnel and technology, the service “producer,” and the distribution channel. The value stream may be controlled by a single business or a network of several businesses.
A Value Stream is all of the activities, both value added and non-value added required to bring a product from raw materials into the hands of the customer
