Leanspeak: The Productivity Business Improvement Dictionary
The one-stop, concise dictionary to business lingo.
TABLE OF CONTENTS Leanspeak: The Productivity Business Improvement Dictionary
V: VA Volume
VA
See value analysis.
value
when a product or service has been perceived or appraised to fulfill a need or desire as defined by the customer the product or service may be said to have value or worth. Components of value may include quality, utility, functionality, capacity, aesthetics, timeliness or availability, price, etc.
value-added ratio (VAR)
one of the central metrics for the lean enterprise that represents the percentage of manufacturing lead time actually spent doing value-adding activities. The value-added ratio is determined by dividing total value-added time of a process by the manufacturing lead time of that process x 100.
value-adding
the creation of value through waste-free operations and processes. Any operation or activity that changes, converts, or transforms material into a product or service the customer is willing to pay for. Contrast with non-value-adding.
value-adding management (VAM)
the management process of the lean, cross-functional organization that utilizes policy management to integrate employee-involvement methods such as total quality management, just-in-time, total productive maintenance, and concurrent engineering in order to consistently achieve customer-focused business objectives.
value analysis (VA)
the very detailed analytical process of evaluating a sequence of operations as to the value each operation adds at each particular stage. It is part of value engineering. See business process tools for links to other tools.
value chain
the entire chain of value creation from materials to production to final consumption, involving multiple companies. A value chain is a supply chain
Copyright Productivity Press 2002 under license agreement with Books24x7
