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Value-stream mapping, also known as material- and information-flow mapping, [1] is a lean [2]-management method for analyzing the current state and designing a future state for the series of events that take a product or service from the beginning of the specific process until it reaches the customer.
Business process mapping refers to activities involved in defining what a business entity does, who is responsible, to what standard a business process should be completed, and how the success of a business process can be determined. The main purpose behind business process mapping is to assist organizations in becoming more effective.
A value stream is the set of actions that take place to add value to a customer from the initial request through realization of value by the customer. The value stream begins with the initial concept, moves through various stages of development and on through delivery and support. A value stream always begins and ends with a customer.
Value Stream Mapping (VSM) – Value stream mapping refers to the development of a high-level visual representation of a process flow that is involved in delivering a product or service (called a "value stream") to customers. VSM events, which are typically 3–4 days, focus on identifying the sources of non-value added activity and ...
Business services (primary value streams). Examples: point-of-sale transaction processing, ecommerce, and supply chain optimization; IT services (secondary value streams). Examples: application performance management, data backup, and service catalog; The distinction between primary and secondary value streams is meaningful.
The Forrester effect map is a business technique used to analyse the disturbance on the supply chain of reorder activity. [ 1 ] The tool is one of the seven value stream mapping tools as defined by Hines and Rich.
In accounting, value stream costing (VSC) is a technique of costing which entails identifying and calculating costs for all the process steps required for providing value to the customer. It begins with a mapping and tracking all the process steps that provide the value and then quantification of the value created by each step. [1] [2]
Value-stream-mapping software is a type of software that helps prepare and/or analyze value stream maps. The software typically helps design maps through utilizing a series of symbols representing activity and information/material flow, and as a supplement to manual calculations [ 1 ]