Lean manufacturing is a business model that seeks to deliver high quality products or services as efficiently as possible. It is a production process based on an ideology of maximizing productivity while simultaneously minimizing waste within a manufacturing operation. The lean principle sees waste as anything that doesn’t add value that the customers are willing to pay for.
The benefits of lean manufacturing include reduced lead times and operating costs and improved product quality. This is also known as lean production. The methodology is based on a specific manufacturing principles that have influenced production systems across the world, as well as those of other industries including healthcare, software, and various service industries.