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  • Glossary Excel Value Stream Mapping

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    Wilmer Chacon
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    This document defines key terms used in a course on value stream mapping, including cycle time, inventory waiting time, lead time, process time, takt time, and utilization. Cycle time is how often a task is completed on average. Inventory waiting time is the average number of days a business has inventory for each resource. Lead time is the total time for a piece to move through a process from start to finish. Process time is the average time to complete a task once started. Takt time is the time needed to complete a task to meet customer demand. Utilization is the percentage of takt time that the cycle time takes.

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    VSM

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    Glossary_Excel_Value_Stream_Mapping

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    This document defines key terms used in a course on value stream mapping, including cycle time, inventory waiting time, lead time, process time, takt time, and utilization. Cycle time is how often a task is completed on average. Inventory waiting time is the average number of days a business has inventory for each resource. Lead time is the total time for a piece to move through a process from start to finish. Process time is the average time to complete a task once started. Takt time is the time needed to complete a task to meet customer demand. Utilization is the percentage of takt time that the cycle time takes.

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    28 views1 page

    Glossary Excel Value Stream Mapping

    Uploaded by

    Wilmer Chacon
    This document defines key terms used in a course on value stream mapping, including cycle time, inventory waiting time, lead time, process time, takt time, and utilization. Cycle time is how often a task is completed on average. Inventory waiting time is the average number of days a business has inventory for each resource. Lead time is the total time for a piece to move through a process from start to finish. Process time is the average time to complete a task once started. Takt time is the time needed to complete a task to meet customer demand. Utilization is the percentage of takt time that the cycle time takes.

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    of 1

    GLOSSARY

    Excel: Value Stream Mapping


    With Curt Frye

    Use these terms and definitions below to understand concepts taught in the course.

    Transcript Search: note that you can search for terms directly within the course. To search video text, switch to
    the Transcripts tab, then press Cmd/Ctrl + F on your keyboard to run a search within the active transcript.

    Term Definition

    cycle time How often, on average, the task will be completed

    inventory waiting The number of days of inventory, on average, a business has for each
    time resource

    lead time The time required for one piece to move all the way through a process,
    from start to finish

    process time The time required, on average, to complete a task once

    takt time The time you have to complete a task in order to meet customer
    demand

    utilization The amount of takt time, by percentage, the cycle time takes

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