Value Stream Management

TLDR

Value Stream Management is a new strategic and operational approach to capturing, analyzing, planning, and implementing effective change in core cross‑functional or cross‑company processes to achieve a lean enterprise. The paper details the Value Stream Management method, summarizing prior Value Stream Mapping and its weaknesses. The method involves a strategic review of business or supply chain activities, delimiting key processes, mapping them, analyzing and synthesizing data, and planning strategic and operational change within a supporting framework. The paper summarizes the benefits and limitations of the new approach.

Abstract

Abstract Value Stream Management is a new strategic and operational approach to the data capture, analysis, planning and implementation of effective change within the core cross‐functional or cross‐company processes required to achieve a truly lean enterprise. This paper describes the method in detail including a summary of the previous Value Stream Mapping approach and its weaknesses. The new approach involves a strategic review of a business or supply chain's activities, the delimitation of key processes and the mapping of these processes. A description of how to analyze and synthesize these data is followed by a section on an approach to planning strategic and operational change together with a framework in which to do this. The benefits and limitations of the new approach are summarized.