Value Stream

• Value Stream is a series of activities. 
• Starts with the Supplier and ends at the customer. 
• Wastes are explicit and hidden along this value stream. 

Components of Value Stream

• Flow of materials
• Transformation of raw materials into finished products/services
• Flow of information

What is Value?

• Value is defined by the customer based on:
• Is the customer perception of the usefulness of the given product or service
• The necessity of the given product or service

Poka Yoke - Mistake Proofing

• Japanese term for mistake proofing
• Originally named Baka Yoke (Meaning Idiot - proofing), but later changed to the milder Poka Yoke :-)
• Method to prevent errors
• Formalised and adopted by Shigeo Shingo.

Examples of Poka Yoke

The Toyota Way

TPS is set of lean tools and techniques and the Toyota Way provides governing principles for TPS. 

The Toyota Way is a set of principles and behaviors that underlie the Toyota Motor Corporation's managerial approach and production system (Wikipedia).

14 Principles divided into 4 sections. 

1. Long-Term Philosophy
2. The Right Process Will Produce the Right Results
3. Add Value to the Organization by Developing Your People
4. Continuously Solving Root Problems Drives Organizational Learning

Muda, Muri, Mura