GENERAL KNOWLEDGE

Detailed explanation-1: -How does lean production improve efficiency? Lean production focuses on stripping waste out of business processes and flowing product or information through faster with less waiting and holds ups. By removing this waste, you can get more done with no or little extra people and resource, thus improving efficiency.

Detailed explanation-2: -Lean production is an approach to management that focuses on cutting out waste, whilst ensuring quality. This approach can be applied to all aspects of a business – from design, through production to distribution. Lean production aims to cut costs by making the business more efficient and responsive to market needs.

Detailed explanation-3: -Lean helps businesses attain competitive advantage by identifying the key strategic areas for improvement and then optimising the processes of each. This enables them to become more effective and efficient, build credibility within the industry and gain market share.

Detailed explanation-4: -What is it? Lean production is a production methodology focused on eliminating waste, where waste is defined as anything that does not add value for the customer. Although Lean’s heritage is manufacturing, it is applicable to all types of organisation and all an organisation’s processes.