Value Stream Mapping is the process of graphically illustrating the movement of materials and information across suppliers to the organization and then to the customer. The purpose is to create a map of the current state of your organization’s supply chain to identify bottlenecks, inefficiencies, or buildup of inventory and take corrective action.
Value Stream Mapping usually involves a team of individuals who represent the different functions or areas of the process included on the map to collaborate with a facilitator experienced in creating value stream maps. The first step is to identify the set of products or services under consideration as well as bound the value stream, which typically starts with the supplier and ends with the consumer. A Value Stream can also include the entire supply chain, which would entail starting with any raw materials. Map out each process step to show the different stages a product goes through from inception to distribution to consumption.
Sometimes, a single challenge or obstacle can pose an existential crisis to an entire business. The Theory of Constraints is a methodological approach for isolating the most significant barrier or bottleneck in a process and then eliminating it in a systematic fashion through a series of straightforward steps.
The [Theory of Constraints Templateprovides you with a mechanism to identify these barriers and a strategic approach to determining the best ways to eliminate those barriers.