Tag: Lean Manufacturing
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MVP – Minimum Viable Product
Originating from the Lean Startup methodology, the Minimum Viable Product (MVP) is a product version with only essential features, developed to validate a specific business hypothesis quickly. This approach prioritizes user feedback, enabling prompt refinements to ensure the product meets market demands while optimizing resource use.
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Just-in-Time
Originating in Japan, the Just-in-Time (JIT) methodology emphasizes the timely delivery of goods and services. By aligning production with real-time demand and advocating for minimal inventory, JIT promotes efficiency across various sectors.