Part 3 of a Six-Part Series.
Lean value streams encompass a product or service’s complete life cycle, from raw materials through sale, and usage — everything that goes into providing the identified “value.”
Value streams include necessary, value-adding items as well as non-value-adding items that bring waste and unevenness. Value stream mapping allows for the subsequent process and resource optimization that is central to lean methodology. Retail management software has the potential to bring your value stream mapping to life.
Key components of Lean Retail value streams include:
- Inventory Management: Lean Retail requires complete awareness of chain inventory in each moment, and an understanding of inventory opportunities and challenges.
- Suppliers: Because Lean Retail value is reliant on product sourcing, its value streams are built upon relationships with suppliers; an awareness of each supplier’s capabilities; and a system to leverage this knowledge to meet customer needs.
- Logistics: Lean Retail includes the optimization of shipping, as well. This requires a full picture of logistical options and a day-to-day ability to make strategic changes that best meet customer needs.
- Operations: The human activities that chains use to provide value are all part of the Lean Retail value stream — everything from merchandising, to ordering, to cleaning and beyond.
- Service: The ability to provide service at key times in the buying process is a crucial part of operations, and hence of the Lean Retail value stream. This includes customer support with returns and other issues.
- Fulfillment: Completing the purchase transaction elegantly, at in-store check-out or through delivery of online purchases, is a key interaction in the Lean Retail value stream.
FieldStack is Lean Retail Management Software that uses Lean principles to optimize resource use and operational flow in retail chains. Contact us to arrange a demo and see how FieldStack can transform your retail chain.
Check out the rest of this series: