FT Guide to Lean

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Lean management

What is Lean?

Lean is a way of collective thinking to methodically stamp out waste whilst simultaneously maximising value. It requires that employees transition from a singular focus on doing their daily work to a dual focus of doing their work and being motivated to performing their work even better, every day . This means that all employees need to think deeply about their work in order to understand the shortfalls and develop improved methods.

Why Lean?

Lean delivers a vast competitive edge over competitors who don’t use it at all or use it ineffectively. On the cost saving side (just one target of Lean), every £1 saved drops directly to the bottom line. The smaller your profit margins are, the greater the value of ...