Lean is a philosophy and a set of practices that aim to maximize customer value while minimizing waste. It's based on the Toyota Production System (TPS) and is widely adopted in manufacturing, healthcare, and other industries.
The core principles of Lean include:
* Value: Define what creates value for the customer.
* Value Stream: Identify the steps involved in creating value for the customer.
* Flow: Eliminate waste by creating continuous flow in the value stream.
* Pull: Let demand pull the product through the value stream.
* Perfection: Continuously improve the process by eliminating waste and increasing efficiency.
If you were looking for a specific acronym related to Lean, please provide it and I can help you decipher its meaning.