Question

What term refers to the optimization of value-adding activities and elimination of non-value-adding activities that are part of a value stream?

Short answer

Lean refers to the optimization of value-adding activities and elimination of non-value-adding activities that are part of a value stream.

Step-by-step solution

About value-adding and non-adding activities

Value-adding activitiesare those activities for which the customers are willing to pay and non-adding activitiesare those activities for which customers are not able to pay that only add extra cost and time.

About Lean Production

Lean productionis one of the best tools for implementing green strategies and service processes. Theleanmanufacturing process is used to increase productivity or profitability and also helps to reduce cost.