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Value added work is the actual work that a customer is willing to pay for. It can be described as any activity that transforms a product or service from one condition to another, is done right the first time through and somebody is willing to pay for it.
Visual management is a way to visually communicate and manage various standards, metrics, improvements, safety requirements and expectations. All forms of visual management should be clearly displayed and understood with no explanation other than visual analysis by everyone.
Virtual Organizations are an ordinary practice in today's day and age. A virtual organization can be both permanent or a temporary establishment. These organizational alliances vary and length. The different organizations that are forming a virtual alliance work together in an effort to align values and act as one single entity to external customers.
The vision of an organization is a compelling image or inspirational description of what an organization would like to achieve or accomplish. It is a forward looking and inspirational idea of where you would like to be. The vision guides the decisions of the current and future activities of the organization.
What does a vision do?
Value Stream mapping is a lean and six sigma tool used to visually understand the flow of materials and information for a given process or set of activities. The value stream map includes both information and material or service flows that identify value added and non value added activities. A value stream map is a fundamental tool used to lead waste reduction projects, cycle time reductions and other improvement activities.
Before this powerful tool gained the name value stream map it was referred to as a material and information flow diagram or map by Toyota.
The Value Stream is the entire set of activities that are required to design, produce and provide services or goods. Included in every value stream is both information and material flows. When a value stream map is used you can identify both value-added and non value-added activities.
Value is a perception of the worth, regard, importance or usefulness of a good or service. Value is added to services and items in three different ways: transformation, addition of some kind or subtraction of some kind.
Visual control refers to methods, devices, activities and or systems which are designed to assist in the management or control of our activities, processes, parts and or machines through visual and or other sensory means. Visual controls help to:
Visual Challenge - Watch the video below and share how many black pens you see. Then answer the question; Why was it so easy to see the black pens after the 5S?
Variance is the difference between what is expected and what is actually happening. In statistics variance is a measurement of dispersion of data.
Reference: Apics Dictionary, 2015.
* What are some examples of variance that you see each day?
Vendor Managed Inventory programs are a powerful way to leverage an organization's strengths and focus on your core competencies. Vendor Managed Inventory places the responsibility of selected services and or items on a chosen supplier. In most cases the supplier will handle all agreed upon aspects, Which would include:
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