Toyota Production System -

see "Lean Production"

Value -

A capability provided to a customer at the right time at an appropriate price, as defined in each case by the customer. The more a product or service meets a customer's needs in terms of affordability, availability, and utility, the greater value it has. Thus, a product with true value will enable, or provide the capability for, the customer to accomplish his objective. - or -

Value -

Value is a measurement of the worth of a specific product or service by a customer, and is a function of:

(1) the product's usefulness in satisfying a customer need,

(2) the relative importance of the need being satisfied,

(3) the availability of the product relative to when it is needed and

(4) the cost of ownership to the customer. Value Added - A type of processing (accomplished correctly the first time) that changes (transforms) the shape or character (fit, form, or function) of a product or assembly.

Value Stream -

The specific activities required to design, order, and provide a specific product, from concept to launch, order to delivery, and raw materials into the hands of the customer.

Description of Value Stream Mapping or VSM

Identification of all the specific activities occurring along a value stream for a product or product family.

Visual Control -

The placement in plain view of all tools, parts, production activities, and indicators of production system performance so everyone involved can understand the status of the system at a glance.

Also the use of signals, charts, measurements, diagrams, lights, and signs all to clearly define the normal.

Visual Workplace -

A Visual workplace is a work area that is self-explaining, self-regulating and self-managing. Where what is supposed to happen does happen: on time, every day.

Characteristics of a Visual Workplace: - Physical Impediments to effective processing are removed - Processes are tightly linked and logically ordered

- Tools and fixtures have homes no searching

- Information and material travel together

- Standards are clear and self-explaining.

Clear baseline for continuous improvement.

Waste -

Includes needless activities that must be eliminated (sometimes referred to as pure waste).

WIP Turns -

The value of total annual shipments at plant cost (for the most recent full year) divided by the current WIP value at plant cost.

Work-in-Process Inventory (WIP) -

The amount or value of all materials, components, and subassemblies representing partially completed production; anything between the raw material/purchased component stage and finished goods stage. Value should be calculated at plant cost, including material, direct labor, and overhead.

WCM -

world class manufacturing is the philosophy of being the best, the fastest, and the lowest cost producer of a product or service. It implies the constant improvement of products , processes, and services to remain an industry leader and provide the best choice for customers, regardless of where they are in the process.

Yamazumi -

Meaning literally "to pile in heaps", a yamazumi board is a tool to achieve line balance, with strips of paper or card representing particular tasks.

Here is a description from a Toyota engine plant in the US:

"Magnetic strips of varying width are stacked one on top of the other forming several columns across the board. A scale of seconds is marked off beside the columns, and a pink thread is pulled taunt across the board at the 65 second level - the takt time. Each strip represents the time it takes for an assembly team member to complete a task; each column represents total time for a complete process.

Whenever process rebalancing needs to be done because of increased production or a new product introduction, tasks can be quickly rearranged. Also, any underutilization of a team member's time can be recognized immediately by seeing a column that does not make it up to the pink thread."

Yield Improvement -

For Best Plants calculation, it should be defined as the percentage reduction in rejects, within a five-year period, at a process operation or quality test point.

(Example: If yield improves from 95% to 98%, that means rejects have been reduced by 60% -- from 5% to 2%. Therefore, yield improvement equals 60%.