Related term
Capital Linearity
A philosophy of designing and buying machinery that makes it possible to add or subtract small increments of capacity as…
View termWhat is Lean Enterprise?
A continuing agreement among all the companies sharing the value stream for a product family to correctly specify value from the end customer's point of view, eliminating wasteful…
Meaning and application in management
A continuing agreement among all the companies sharing the value stream for a product family to correctly specify value from the end customer's point of view, eliminating wasteful actions and making the value-creating activities occur in continuous flow pulled by the customer. The method for conducting the necessary analysis is described in Womack and Jones 2002.
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