The lean business model is all about maximizing customer value and minimizing waste. Sounds good, no? That's because it is: A lean implementation can help companies increase productivity, decrease costs, reduce waste, engage employees and deliver a superior product or service.
While there is a misconception that lean is only for manufacturing businesses, the model can prove also advantageous for companies across all industries, as well as for startups and enterprise-level organizations.
Our white paper "What to Know About a Lean Business Model" lays out all the information you need to transform your business.
5 guiding principles of lean
In general, lean models bring about the twin goals of maximum value and minimum waste by instilling a focus on processes, people and products. At a high level, the ideal of lean business is to eliminate all steps that don't create value, thereby streamlining supply chains, optimizing resource allocation and driving productivity.
Our white paper provides a fuller definition of lean, as well as an exploration of the five principles underpinning lean business, including:
- Identification of end-user value.
- Charting out the value chain.
- Streamlining the flow of products and services.
- Establishing pull-based systems.
- Pursuing perfection.
Interested in more about lean? Download our white paper for insights that you can use to improve your own business. And as always, you can reach out to Comerica Bank, the Leading Bank for Business1, with any questions you have about how we can support your implementation.
1Comerica ranks first nationally among U.S. bank holding companies with greater than $70B in assets, based on commercial and industrial loans outstanding as a percentage of assets, as of December 31, 2024. Data provided by S&P Global Market Intelligence.
This information is provided for general awareness purposes only and is not intended to be relied upon as legal or compliance advice for your business.
This article is provided for informational purposes only. While the information contained within has been compiled from source[s] which are believed to be reliable and accurate, Comerica Bank does not guarantee its accuracy. Consequently, it should not be considered a comprehensive statement on any matter nor be relied upon as such.