Glossary

Analysis technique in which a work plan using a function analysis leads to significant optimisation of products and processes

Sequence of all activities to produce and deliver a product, aiming to create value at each step.

All activities that increase the value of a product or service; i.e. everything that the customer is willing to pay for.

Method of increasing the value or benefit of a product, project or process

Term in marketing that describes the benefit or value that a product or service offers to customers

All the working steps that are necessary, within system limits that must be defined, for manufacturing a product.

a method for holistic process optimisation

Value Stream Mapping visualizes and analyzes the entire value stream to identify waste and improve processes.

Process of simplifying or optimizing variants in a system, product or process.

Factors or influences that increase the diversity of products or services

Efficient management of different versions or variants of a product or software

Process of careful examination and analysis carried out by a potential buyer or investor.

the procedure followed by a manufacturing company to integrate upstream or downstream manufacturing steps into its own manufacturing process

Recording, evaluation, and interpretation of production processes using video recordings

Digitization of all relevant resources and products; combination of movement/processing simulation and dynamic flow simulation.

communication basis of the lean production system

a logistics concept in which the supplier has access to the customer’s inventory and demand data