AI Glossary

This glossary of artificial intelligence terms and concepts is designed to help you navigate the world of industrial AI, machine learning, and beyond.

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Value Stream Mapping (VSM)

A lean manufacturing tool used to identify inefficiencies and waste in the production process and to develop strategies to improve overall efficiency and reduce costs. Value stream mapping involves visually mapping out the steps and flow of materials, information, and activities involved in delivering a product or service. It helps identify areas of improvement, such as bottlenecks, excessive waiting times, unnecessary tasks, and non-value-added activities, with the aim of streamlining processes and optimizing value creation.

Work Management System (WMS)

A software system designed to manage and track the progress of work-related activities within an organization. WMS typically provides functionalities for planning, scheduling, assigning tasks, monitoring progress, and generating reports related to work assignments and resources. It helps streamline workflow, enhance collaboration among team members, optimize resource allocation, and improve overall productivity and efficiency.

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