Value Vs Non Value Flashcards
1
Q
Shaping a piece of metal on a lathe
A
Value added
2
Q
Storage of raw materials
A
Non-value added
3
Q
Moving parts from machine to machine
A
Non-value added
4
Q
Non value added
A
- moving of parts from machine to machine
- inventory taking up space
- motion by man or machine that is not necessary (e.g. reaching too far)
- waiting for parts or instructions
- overproduction (making more than you can handle)
- over-processing (doing anything to your product that customer is not paying for)
- defects
5
Q
Value added
A
transforming the product
- assembling
- sawing wood
- cycling a press
- applying topcoat
6
Q
Value
A
Is what the customer wants so it increases market value
7
Q
Value added
A
Transforming materials into what the customer wants
8
Q
Non value added
A
An activity that adds costs to the product but does not increase its market value
