1) Identify Value: Specify value from the standpoint of the end customer by product family.
2) Map the Value Stream: Identify all the steps in the value stream for each product family, eliminating whenever possible those steps that do not create value.
3) Create Flow: Make the value-creating steps occur in tight sequence so the product will flow smoothly toward the customer.
4) Establish Pull: As flow is introduced, let customers pull value from the next upstream activity.
5) Seek Perfection: As value is specified, value streams are identified, wasted steps are removed, and flow and pull are introduced, begin the process again and continue it until a state of perfection is reached in which perfect value is created with no waste.
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