Tag Archives: state

Value Stream Mapping

Value Stream Mapping

A Value Stream Map (VSM) is a high-level visual representation of a business process. It helps to understand the flow of value in the process as perceived by the customer. Its primary goal is to identify and eliminate waste (Muda) and make the process as close to lean as possible. Although it is often associated with manufacturing, it can also be applied in product development and service-related industries such as healthcare, hospitality and logistics.

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Gap Analysis

Gap Analysis

A gap is a problem, issue or challenge, and could be an opportunity for improvement. Gap analysis compares two different states of something, the current state and the desired state. It is mainly used to assess where a company or process is today, where it needs to be in the future, and what needed to be there. Gap analysis is also known as need analysis or need assessment.

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