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Explain connection between value stream and profit and loss.

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Explain the connection between value stream and profit and loss

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Solution Summary

This solution explains the connection between the value stream and profit and loss. A thorough explanation is provided. The direct ways that the value stream affects profit or creates a loss are clearly identified.

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The value stream is generally defined as the activities that are necessary in a department to produce the product, and to get the product successfully onto the market. This includes the steps from start to finish, and includes factors like materials, labor, and processes that all come together, in order to complete the product. Most companies, particularly in the manufacturing industry ...

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