Value Stream Mapping (VSM)
A “one page picture” of all the processes that occur from the time a customer places an order for a product until the customer has received that product. A value stream map shows all activities; value added and non-value added by the current state of processes executed to meet customer demands.
Voice Of The Business (VOB)
Business requirements or targets that must be considered during the design phase or during improvement activity.
Voice Of The Customer (VOC)
Data collected from the customer that tells you what the customer wants; a customer input technique to capture qualitative evaluations of performance.