Practice Areas Practice Areas  OverviewOverview  Vision and StrategyVision and Strategy  Lean PracticesLean Business Practices  ERP Lean SystemsERP for Lean Customer FocusedCustomer Focused People  Six SigmaSix Sigma  Contact UsContact Us

 

Home > Lean Terms & Definitions > Value

VALUE

A capability provided to a customer at the right time at an appropriate price, as defined in each case by the customer value stream. The specific activities required to design, order, and provide a specific product, from concept to launch, order to delivery, and raw materials into the hands of the customer.


Learn more about Value Stream Mapping and Value Engineering/Value Analysis.