Once the go-to strategy for ensuring business efficiency and growth, in the context of the current reality, Lean Management has been branded by some as being outdated. But, in a more evolved form, this business approach has in fact shown that it can complement Innovation Management when it comes to company operations, and could be the answer for businesses to remain competitive in today’s world.
It has been 30 years since the term Lean Management – a long-term approach that seeks to achieve incremental process changes to improve efficiency and quality – was first coined. Some say that Lean Management has now become obsolete; others talk about a ‘post-Lean’ world and say it is fated to die. Yet in other circles, Lean Management still seems to be alive and well, with its potential to be fully revealed. The likes of Nike, FedEx, Intel and other global leaders are strong advocates of the method, and credit their continued success to its defining principles.