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See Value-adding.
Value Steam Map (VSM)
A high-level, visual representation of all of the process steps (both VA and NVA) required to transform a customer requirement into a delivered good or service. A VSM shows the connection between information flow and product flow, as well as the major process blocks and barriers to flow. VSMs are used to document current state conditions as well as design a future state. One of the key objectives of Value Stream Mapping is to identify non-value adding activities for elimination. Value Stream Maps, along with the Value Stream Implementation Plan are strategic tools used to help identify, prioritize and communicate continuous improvement activities.
Value-adding (VA)
Any activity, which, from the ultimate customer's perspective is of value, such that the customer is willing to pay for that activity, or that that activity is a condition of doing business with that customer.
Visual Management
An approach to managing product, people and processes using low-cost, easy to understand visual devices. These devices, when properly utilized, will quickly and effectively communicate objectives, performance, operating conditions and problems.
See Value Sream Map.