Introduction to Value Stream
Introduction to Value Stream
Value Stream is a series of steps which generates values to the organization as well as for customers. It is a fundamental mindset for every business success. Without it, organizations fail to develop customer-centric processes. Value stream mapping not only removes the delay and waste but also transform leadership thinking, define strategy and priority. It is one of the visual ways to deeply understand how work gets done. The three key components for value stream mapping are:
- Information flow
- Workflow
- Timeline
Value streams are applicable in all sectors either technical or non-technical. For eg:
Communication, Construction, Entertainment, Financial etc.
Though Value streams really help organizations to strategize their ROI (return on investment) but still there are many disconnects of value streams in the organizations mainly due to three reasons:
- Many organizations remain unfamiliar with value stream mapping as a method which is a foundation of Lean Business Management
- Many organizations have adopted value streams mapping and are underutilizing the method because they don’t understand the WHY/WHAT/HOW of the approach where they fail to involve leadership, employ a cross-functional team and relevant key progress indicators.
- Many organizations are misusing the value streams mapping results not reaping the full set of benefits the approach offers.
It is such a powerful technique that an organization used to build solutions that provide a continuous flow of value to the customers
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