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A Value Stream Map visually maps the flow of steps, delay, and information required to deliver a product or service; this is called a "Current State" Map. Value Stream Mapping then analyzes the Current State Map in terms of 1) creating flow, 2) eliminating waste, and creates a more efficient Future State Map.
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Source: Best Practices in Lean Template, Value Stream Map Excel: Value Stream Map Excel (XLS) Spreadsheet, Flevy
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