Use of Value Stream Mapping Tool for Waste Reduction: A Review

In today’s global scenario industries, face cost-reduction and efficiency challenges in their operations. They need to find alternatives to reduce production time, costs and eliminate non-value added activities in order to improve performance and product quality to survive in the highly competitive world. Value Stream Mapping technique involves recording steps, activities, material flows, information flows, communications and other process elements that are needed for the transformation process. Value Stream Mapping helps the organization to identify the wastes in a targeted process and brings a product or product family that use the same resources through the main flows, from raw material to the customers. This paper discusses the Value Stream Mapping technique and its benefit to different industries. The paper also presents a Literature Review to show applications of this technique and improvements in lead time, cycle time and inventory level reduction in various industries. This paper concludes with specifying the important contribution of value stream mapping technique in attaining the success.