1. What is lean manufacturing?
2. What are the five principles of lean thinking?
3. Identify two types of value streams and explain how they differ.
4. How are value streams identified and created?
5. Explain how lean manufacturing is able to pro- duce small batches (low volume products) of differing products (high variety).
6. What role does a demand-pull system have in lean manufacturing?
7. Identify eight forms and sources of waste.
8. What is a focused value stream?
9. What is the purpose of assigning facility costs to value streams, using a fixed price?
10. Why are units shipped used to calculate the value-stream product cost?
11. When will the average unit cost be useful for value streams?
12. Explain why changes in value stream profitability may be better information than individual product cost for certain decisions.