What is meant by 'Lean Manufacturing'?

Lean Manufacturing refers to a systematic approach aimed at minimizing waste within a manufacturing system while simultaneously maximizing productivity. The essence of Lean Manufacturing is to create more value for customers with fewer resources by optimizing processes and improving flow. This method emphasizes eliminating any activities that do not add value to the final product, thereby enhancing efficiency and reducing costs.

By minimizing waste—such as overproduction, waiting times, excess inventory, unnecessary motion, defects, and underutilized talent—organizations can not only improve their operational efficiency but also achieve improved product quality and faster delivery times. The focus on continuous improvement and employee involvement in problem-solving is also a core principle of Lean Manufacturing, which helps in fostering a culture of efficiency and effectiveness within an organization.

This understanding aligns perfectly with the attributes of Lean Manufacturing, distinguishing it from the other options, which focus on different facets of business management.