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Lean management is a philosophy and approach to business management that focuses on maximizing value while minimizing waste.
Lean management refers to a business management philosophy and methodology that emphasizes the optimization of value creation while minimizing waste and inefficiencies. It originated in the manufacturing industry but has since been applied to various industries and sectors, including healthcare, finance, and software development.
The core principle of Lean management is to create more value for customers with fewer resources. This is achieved by identifying and eliminating waste, which includes anything that does not add value to the customer or the product/service being delivered. Examples of waste include overproduction, waiting, unnecessary movement, overprocessing, defects, and unused talent.
Lean management involves the use of several tools and techniques to achieve its objectives, including value stream mapping, Kanban systems, 5S methodology, and continuous improvement. It also emphasizes the importance of employee engagement and empowerment, and encourages the involvement of all employees in the improvement process.
The ultimate goal of Lean management is to create a culture of continuous improvement, where every employee is focused on identifying and eliminating waste to improve the overall value delivered to customers.
