Value stream management for lean companies, Part II

doi:N/A

eISSN: 1848-137X / ISSN: None

Journal of Cost Management

Volume 17, Issue 3 : 24-30

Review Article

Value stream management for lean companies, Part II

Bruce Baggaley

Brian Maskell

Abstract

The article describes lean manufacturing in terms of value streams and discusses ways that value streams support locally coordinated continuous improvement. The article also highlights the shortcomings of standard costing techniques. Standard costs can be eliminated in favour of value stream costs because there is no longer a need to use standard costs for decisions such as order profitability, make/buy decisions or inventory valuation. Implementation of value stream costing is discussed.

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