Analysis of Implementation of Value Stream Mapping Tool in the Industries for Waste Reduction and Lean Production: A Review

In today’s international scenario industries, face cost cutback and efficiency challenges in their operations. They have to find alternatives to trim down production time, costs and eradicate non-value added activities in order to get better performance and product quality to stay alive in the highly competitive world. Value Stream mapping technique requires recording steps, activities, material flows, process flows, information flows, communications and other process elements that are desirable for the transformation process. Value Stream Mapping aids the organization to recognize the wastes in a targeted process and brings a product or product family that uses the same resources through the main flows, from raw material to the customers. This paper discusses the use of Value Stream Mapping technique and its benefit that it reaps to the different industries. The paper also presents a Literature Review to show applications of this technique and significant improvements in lead time, cycle time and inventory level reduction in a range of industries. This paper encapsulates with specifying the vital contribution of value stream mapping technique in attaining the accomplishment.