A systematic literature review on the stochastic analysis of value streams

Abstract

Value stream analysis is a very useful approach in the identification of non-value adding wastes and developing a systemic plan for achieving process improvement. However, traditional value stream mapping fails in considering the inherent variability of processes, hence reinforcing improvements that might not lead to significant results. In this sense, the uncertainties associated with value streams become an issue that can be curbed with the integration of stochastic methods. By conducting a systematic literature review, this research evaluates the level of integration of stochastic methods into value stream analysis and identifies those stochastic methods that are widely adopted to address..