lean-principles

Vocabulary Word

Definition

'Lean principles' are ideas that help businesses improve by adding value for customers, minimizing waste, and constantly enhancing operation processes.

Examples in Different Contexts

In process improvement, 'lean principles' guide organizations in creating more value for customers with fewer resources. A process improvement specialist might say, 'By adhering to lean principles, we focus on value creation and eliminate processes that don't add value.'

Practice Scenarios

Business

Scenario:

Our business processes are experiencing inefficiencies and unnecessary wastage. We need to improve performance metrics.

Response:

Agreed. Let's implement lean principles to refine our operations and reduce the waste.

Innovation

Scenario:

Despite having brilliant ideas, our innovation process is not been able to provide maximum value. We need a more optimized system.

Response:

Absolutely! Adopting lean principles can certainly enhance our value proposition by minimizing wastage and maximizing value.