Define these two terms. Provide a context in which they should be mentioned and finally use an example using another company.

1. Lean production in supply chains
2. Value stream mapping

Lean production in supply chains

1. Definition:
2. Context:
3. Personal Example:

Value stream mapping

1. Definition:
2. Context:
3. Personal Example

Information from textbook

L0121 Explain lean production. .1. . Lean production involves improving processes by eliminating waste and excess inventory. . The justintimc philosophy. pioneered by Toyota, is the basis for the concept. Lean production Integrated activities designed to achieve highrvolume, highrquality production using minimal inventories of raw materials, workinprocess. and nished goods. Customer value In the context of lean production, something for which the customer is willing to pay. Waste Anything that does not add value from the customer's perspective. LO12-2 Blustrate how lean concepts can he applied to supply chain processes. . Lean concepts can be applied to virtually all the processes in the supply chain. Value stream These are the valueadding and nonvalueadding activities required to design. order. and provide a product from concept to launch. order to delivery. and raw materials to customers. Waste reduction The optimization of valueadding activities and elimination of nonvalucadding activities that Page 4'6 are part of the value stream. mm AMI...\" n......1..,.1...:.. ....,.,.,.....,.,. ....:.... \"1.... "4......\" ...,.....:.... Value stream mapping (VSM) A graphical way to analyze where value is or is not being added as material flows through a process