The Lean Journey – Better Process-Cost Understanding

“In a manufacturing firm, revenue is generated and costs incurred through the performance of activities.” This article from Industry Week argues that it’s important to analyze the cost of each activity – to trace the cost of specific activities in the value stream. Companies who do this have the benefit of  fully understanding what financial benefit will result when a specific activity is improved or eliminated.

This is the lean journey, and there are 5 key steps outlined in the full article HERE.