Lean Manufacturing:A production practice that considers the expenditure of resources for any goal other than the creation of value for the end customer to be wasteful, and seeks to eliminate such waste.
Just-in-Time (JIT): A production strategy that aligns the supply of materials, components, and products to meet actual customer demand, rather than producing based on forecasts.
Takt Time: The rate at which a product needs to be produced to meet customer demand. It is calculated by dividing the available production time by the customer demand.