{"id":1281,"date":"2023-08-20T08:58:30","date_gmt":"2023-08-20T07:58:30","guid":{"rendered":"https:\/\/manufacturinginstitute.co.uk\/?p=1281"},"modified":"2024-02-09T12:04:44","modified_gmt":"2024-02-09T12:04:44","slug":"what-is-customer-value-in-lean","status":"publish","type":"post","link":"https:\/\/manufacturinginstitute.co.uk\/what-is-customer-value-in-lean\/","title":{"rendered":"What Is Customer Value In Lean?"},"content":{"rendered":"\r\n<p>When it comes to customer value, it\u2019s not just about knowing what your market pays for your product. You also need to understand what it is in terms of lean, why it\u2019s important, and how to create it successfully.<br \/><br \/>In this blog, we tell you exactly that.<br \/><br \/><strong>Defining customer value<\/strong><br \/><br \/>Customer value is the perception of what your products are worth to those they\u2019re targeted at, related to satisfaction levels. To establish this, you need to consider your systems, processes, mindsets and trends. By using lean principles, you can better meet their ever-changing demands, therefore creating customer value.<br \/><br \/>It\u2019s important to note that this does differ from consumer demand. Whilst demand is centred around satisfying the wants of the customer, with value, they might not actually know that they even have a need.\u00a0<\/p>\r\n\r\n\r\n\r\n<p><strong>Value stream mapping<\/strong><br \/><br \/>You may have come across the term \u2018value stream\u2019 before. This is when the product\u2019s life cycle is mapped out from beginning to end. Exploring it will help you identify how much, and where, waste is produced during your processes.<\/p>\r\n\r\n\r\n\r\n<p>From here, you can work out how to remove this waste and where to make specific improvements or savings, or better the flow of processes. This will in turn boost value for the customer. You may even be able to identify new ways of <em>adding<\/em> value too.<br \/><br \/>Plus, there\u2019s the option to apply value stream mapping to your customers, figuring out where you can eliminate waste between the customer and what they desire as their goals.<br \/><br \/><strong>Why customer value is important<\/strong><strong><br \/><\/strong><br \/>There\u2019s a number of reasons why customer value is significant, including that it plays a key role in a company\u2019s growth. It will enable you to stand out, and ultimately win competition from your rivals.<br \/><br \/>On top of this, you can use it to refine how things are done in your business, from managing quality, to ensuring continuous improvement. You\u2019ll enhance efficiency too, which can be passed onto the customer through less cost and a better product. It\u2019s worth noting that your customer doesn\u2019t realise your efficiency, but they do know about the likes of price, features and availability. So if you can improve on these things, you can add value for them.<br \/><br \/><strong>How to create customer value<\/strong><strong><br \/><\/strong><br \/>To start with, you can make processes more flexible and enhance them through lean. For instance, if you adopt a \u2018pull\u2019 approach which is more responsive to customer needs, it requires shorter production and delivery times.<br \/><br \/>Additionally, you could better quality management. If you spot an issue with performance, get to the root cause and rectify it. But remember, you should never assume what\u2019s valuable to a customer. What one customer values might be completely different to another. Always communicate with them to find out.<br \/><br \/><strong>Enhance customer value with expert training<\/strong><\/p>\r\n\r\n\r\n\r\n<p><br \/>Here, we\u2019ve provided a brief overview of customer value in lean. But if you\u2019d like to learn about this topic in more detail, take a look at our full lean manufacturing programme \u2013 the <a href=\"https:\/\/manufacturinginstitute.co.uk\/public-courses\/accelerated-route-to-lean-manufacturing\/\">Accelerated Route to Lean Manufacturing<\/a>. In it, we cover the likes of value stream mapping, problem solving, and building a plan.<\/p>\r\n\r\n\r\n\r\n<p>Our next face-to-face training starts on 21st September. You\u2019ll gain the tools and knowledge you need to become a lean champion, and apply tried and tested techniques to boost your competitiveness and profits. <a href=\"https:\/\/manufacturinginstitute.co.uk\/product\/accelerated-route-lean-manufacturing-september-2021\/\">Register for the course<\/a> today. And if you have any questions, our friendly team is always happy to answer them. Just <a href=\"https:\/\/manufacturinginstitute.co.uk\/get-in-touch\/\">get in touch<\/a>.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>When it comes to customer value, it\u2019s not just about knowing what your market pays for your product. You also need to understand what it is in terms of lean, why it\u2019s important, and how to create it successfully. In this blog, we tell you exactly that. Defining customer value Customer value is the perception of what your products are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","om_disable_all_campaigns":false,"inline_featured_image":false,"footnotes":""},"categories":[90],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.0 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is Customer Value In Lean? - The Manufacturing Institute<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/manufacturinginstitute.co.uk\/what-is-customer-value-in-lean\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is Customer Value In Lean?\" \/>\n<meta property=\"og:description\" content=\"When it comes to customer value, it\u2019s not just about knowing what your market pays for your product. 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