Wertstrom

The German word "Wertstrom" is a noun that translates to "value stream" in English. It is composed of "Wert" (value) and "Strom" (flow or stream). In a business context, "Wertstrom" refers to the series of processes that create and deliver value to customers, from the initial idea through to the final product or service delivery.

Similar terms in English include "supply chain" and "value chain".

Difference:

• Value Stream focuses specifically on the processes that add value to a product or service, emphasizing efficiency and quality in the context of Lean methodology.
• Supply Chain encompasses a broader range of activities, including acquisition of raw materials, production, and distribution, without necessarily focusing on the value-adding processes.
• Value Chain integrates the concept of both value-generating activities and passive supportive actions, thus having a slightly more holistic view than "Wertstrom".

In summary, while all these terms refer to the flow of goods and value, "Wertstrom" specifically emphasizes the processes that directly contribute to creating customer value.