Lily: Sensei, are there any high-level principles that one has to consider in the lane approach?
Sensei: Yes, Lily. There are five broad principles that the lean philosophy advocates.
1. Value: it starts with what the customer needs are as business is all about meeting those identifying what the customer values is the first principle
2. Value Stream: It is the mapping of all activities that the company engages in and identifying the value-added steps and wasteful ones and its sources
3. Flow:To achieve a continuous flow operation that balances all activities to the customer demand rate and exposes issues sooner
4. Pull: A control system to avoid overproduction by linking all processes to customer demand
5. Perfection: It is the continuous and step-by-step improvement or the Kaizen principle in which the lean journey is never-ending
Lily: Thank You Sensei, for explaining these Lean principles! It was helpful.