Financial Management has been dedicated to process improvement since the early 1990s. In early 2010, Finance and Facilities adopted LEAN, which is rooted in continuous process and quality improvement. LEAN provides a principled and a structured approach to process improvement that has had success in industry leaders like Toyota.
What is LEAN?
LEAN is defined as “a systematic approach to identifying and eliminating waste through continuous improvement by flowing the product or service at the pull of the customer in pursuit of perfection.”
The main principles of LEAN are:
- Define value to the customer
- Organize work using value streams
- Focus on flow of work
- Produce at the rate of customer demand
- Improve continuously
You can find LEAN resources and more information about current LEAN teams and projects at Finance and Facilities' LEAN webpage.