Lean thinking

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After a decade of downsizing, companies in North America, Europe, and Japan are still struggling to find sustainable growth. Womack and Jones argue that the core issue is that managers have lost focus on customer value and its creation. By clinging to outdated definitions of value, they generate waste, contributing to economic stagnation. The authors advocate for lean thinking, which helps managers define value clearly, align all value-creating activities along a value stream, and ensure that value flows smoothly according to customer demand. The first part of the book illustrates these concepts with compelling examples, demonstrating that these principles can revitalize any company, often doubling productivity and sales while stabilizing jobs. However, managers will need guidance to implement lean practices effectively. Part II offers a detailed action plan, informed by studies of fifty lean companies across various industries, including Pratt & Whitney, Porsche, and Toyota. In Part III, even those familiar with lean thinking will learn about creating a lean enterprise for each product family, linking all value-creating activities from concept to delivery. This innovative approach combines the best aspects of American, German, and Japanese industrial practices, applicable across diverse sectors, from transportation to healthcare.