lean-management

Vocabulary Word

Definition

'Lean management' is a philosophy or method of managing a business with the aim of creating more value for customers with fewer resources. It involves cutting out waste and improving efficiency.

Examples in Different Contexts

In manufacturing, 'lean management' involves tools and methodologies to eliminate process waste, improve quality, and reduce time and cost. A manufacturing engineer might explain, 'Through lean management, we've significantly cut down on unnecessary inventory and production delays.'

Practice Scenarios

Business

Scenario:

We seem to be struggling with inefficiencies in our process. There must be ways to create more value with the resources we already have.

Response:

I believe implementing lean management principles could significantly cut down our waste and boost efficiency.

Operations

Scenario:

Our operational process seems clunky and inefficient. There must be ways we can streamline to get more done with less effort.

Response:

Using lean management principles in our operations would allow us to identify and remove wasteful practices, increasing our efficiency in the process.