WHAT IS VALUE STREAM?
Value stream mapping can be defined as the combination of a pencil and paper toolset which is helpful in analyzing, understanding, and seeing, the flow of data. The flow of data could be about various things including material and information which may or may not be useful in the making of a product and service and makes it ways with the aid of streaming of value from one door to other. This stream of value and its mapping helps in mapping the flow of the work which has to be done and is in the long term helpful in lowering down or speeding up the maintenance of the complexities and other costs.
WHAT ARE THE VARIOUS POINTS WHICH NEED TO BE COVERED IN THE SUBJECT AND ASSIGNMENTS OF VALUE STREAM?
- The first point which need not be covered is that a specific value stream or process needs to be identified. The process needs to be laid down which will have its own boundaries, beginning points, ending points, and other stops.
- The next step is to identify the various customers and the flow of information which will be separated and distributed in the value stream or by the value stream which will limit to the needs, of the customers. This is also called customer value
- Finally, the third step deals in a mapping of the value stream which is done through the medium of flow charts which gives the prove diagram of a stem or the process as stated.
- The next step deals in the brainstorming of the phase. This will look like a map which displays an ideal value stream and it has less wastage of material, time, resources, and information, and it will also reduce the complexity of things.
WHAT ARE THE VARIOUS BENEFITS OF STUDYING THE SUBJECT OF VALUE STREAM IN GLOBAL UNIVERSITIES?
- It helps in the planning of things
- It helps in monitoring of the processed
- It helps in managing time and resources
- It saves a lot of costs and time
- It helps in reducing the wastage of resources and other vital materials
- It helps in identifying usable data
- It creates a common language which helps the communication easier
- It helps in taking more accurate and correct decisions
- It helps in forecasting of important things
- It shows the various links between the material, information, value, customers, processes, and much more.
- It helps in implementing a stringer and better string’s
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WHAT ARE THE VARIOUS BRANCHES AND IMPORTANT TOPICS WHICH ARE COVERED UNDER VALUE STREAM?
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