Waste refers to activities that do not add value. Central to the adoption of lean practices is the elimination of waste. For example, as part of the Toyota Production System [TPS], a classification of types of waste was developed. Another approach to improving system efficiency is to go on a waste walk and identify each of seven types of waste commonly found in the systems and processes. Once the source of waste has been identified, the system or process can be re-engineered in order to eliminate the sources of waste. See also Muda.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
