What are Lean and Lean Thinking?

In this video, I want to answer the questions, what is Lean, and what is Lean Thinking?

Watching this video is worth 2 Management Courses CPD Points.

This video is part of course module number 6.5.3
- Program 6: Managing within and Organization
- Course 5: Operational Management
- Section 3: Process Improvement

LESSON NOTES
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Lean thinking is a systematic approach to structuring an organization’s activities. The goals are to increase the benefits (or value) the organization delivers, while reducing waste. The twin objectives of Lean Thinking are:
1. Maximum value
2. Zero waste

The five principles of Lean Thinking are:
1. Determine value from the customer’s point of view
2. Examine the value chain for each product or service
3. Allow the process to flow by linking steps without waste or delay
4. Give customers and intermediate operators the ability to pull the components, products, or services they need
5. Design everything towards total quality

There are Lean Enterprise Institutes all over the world now, that promote lean ideas. In 1997 Womack established the Lean Enterprise Institute (LEI) in the United States. In 2003 Jones established the Lean Enterprise Academy in the UK.

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CHAPTER MARKERS
00:00 - What is Lean? And what is Lean Thinking?
00:12 - Lean Thinking
00:38 - Adding Value
01:16 - Reducing Waste and Increasing Efficiency
01:41 - Muda, Muri, Mura
02:33 - A short history of Lean Thinking
04:51 - The Value Chain
05:56 - The Five Principles of Lean Thinking
06:39 - Lean Enterprise Institute and Lean Enterprise Academy
07:01 - Summing Up

#ManagementCourses #Lean #LeanThinking

[ManagementCourses]

Lean thinking is a mindset of getting rid of waste and maximizing value. But, there's a little more to it than that, and I'll give you some context in this video.
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[batmansharma]

Very clear and informative video sir. Sir I have a request, can you please make a few videos on evolution of management thoughts.

[yasminmuhammadelias]

Amazing training and really learnt quite a bit and, we should always remember that some of the concepts of quality are down-to-earth. (Dr. DD Shama - Total Quality Management- principles and Practises)

[lobanahasan]

Approximately how much advertising cost do you have if we want to provide a video explaining our application through your channel?