From the course: Lean Accounting Foundations
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Performance indicators
From the course: Lean Accounting Foundations
Performance indicators
- [Instructor] The best way to assess the performance of the lean thinking enterprise is to measure it. The style of reporting needed to support the lean enterprise is a little different from the more traditional forms of accounting that you may be familiar with, such as say, profit and loss or cash flow forecasting. And so lean accounting might take you into an uncomfortable space, but trust me, the results are worth it. Firstly, let's quickly recap what value streams are. Value streams are about understanding the flow of work that is needed to produce an end product or service ready for customer use. For most organizations, the end result will be a grouping of like products based on similar process flows. For each of these product families, there needs to be measures of success. After all, organizations typically invest in lean to improve performance. And as accountants, this is your chance to shine. Say we're helping…
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