- The product is physically transformed of information is altered
- It is done right the first time
- The customer is willing to pay for it
For business success, all processes should focus on creating customer value. Therefore, from today, try to understand the important processes in your organization as Value Streams. Designing maximum value into the product and developing an operations process with minimum waste, will make you produce the best products at lowest cost.
Here are some aspects of value from the customer’s point of view to consider:
- Brand Promise: Some customers pay extra for the perceived longevity of a product, its associated lifestyle and the recognition in a professional or casual peer group
- Packaging: Some customers get extra value with the right packaging, e.g. for internal processability
- Service: How the product is updated/ maintained and what happens when something goes wrong with the product
- Usability: The ease of using the product when and where intended
- Functionality: The ability to perform as many required tasks as possible at the point of use
- Look & Feel: The product’s aesthetic features
Learn more about this topic in our Value & Waste Online Course (Demo currently not available for Internet Explorer).