Eliminating waste is at the heart of the Lean Business methodology. The goal of Lean is to spend more of your time creating value for customers by reducing or eliminating everything else - the waste. Several common types of waste have been identified and together represent the “7 Wastes of Lean” (sometimes expressed as "8 types of waste, including the additional "waste of human potential" or "waste of talent").
Some types of waste are fairly self-explanatory, but others can be a bit difficult to grasp. Here are some practical examples of each.