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What is Value Stream Mapping (VSM)

Value Stream Mapping (VSM) is a Lean tool, to visualize the various steps and their contribution to the overall process.
Value
When a product or service has been perceived or appraised to fulfill a need or desire–as defined by the customer–the product or service may be said to have value or worth. Components of value may include quality, utility, functionality, capacity, aesthetics, timeliness or availability, price, etc.
Value Stream

All the activities (both value-added and non-value added) required within an organization to deliver a specific service; “everything that goes into” creating and delivering the “value” to the end-customer.
Process Map
A visual representation of the sequential flow of a process. Used as a tool in problem solving, this technique makes opportunities for improvement.
Value Stream Mapping A graphical representation of all tasks and activities needed to transform input materials and information into an output. 
Value Stream Analysis – The identification of all the specific activities occurring along the value stream, represented pictorially in a value stream map; see waste, unevenness, and overburden, size the opportunity, share a vision, communicate visually, permission to change, predict results
Non Value Added (NVA) – 
Those process steps in a Value Stream that take time, resources or space, but do not transform or shape the product or service to meet the needs of the customer 
Value Added Activity – An activity can qualify to be value adding, if the customer cares, perceptable change and first time right.
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