Search The Wiki For A Specific Term

Lean


Value Analysis

Value Analysis is the method to determine how features of a product or service relate to cost, functionality, appeal and utility to a customer (i.e., engineering value analysis). (See Target Costing .)

Value-Adding/Non-Value-Adding

Value-Adding or Non-Value-Adding is the framework for assessing the relative value of activities according to how they contribute to customer value or to meeting an organization’s needs. The degree of contribution reflects the influence of an activity’s cost...

Value Added

Value Added is the element(s) of service or product that a sales person or selling organization provides, that a customer is prepared to pay for because of the benefit(s) obtained. Added values are real and perceived; tangible and intangible. A good, reliable, honest,...

Tampering

Tampering with a process occurs when we respond to variation In the process (such as by “adjusting” the process) when the process has not shifted. In other words, it is when we treat variation due to common causes as variation due to special causes. This...