Lean management: the term is usually applied to the production line, but the finance function would benefit from getting a bit leaner, too.
Financial Management (UK) › Nbr. 2006, February 2006
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Lean management: the term is usually applied to the production line, but the finance function would benefit from getting a bit leaner, too.
Why does life only seem to get harder for the financial manager? Accounting is getting more complex, compliance requirements are increasing and commercial pressures are demanding more from you as a business partner. And then a non-accounting colleague sends you a magazine article on lean thinking and asks you: "Does this apply to finance?"
James Womack, Daniel Jones and Daniel Roos first used the term in their 1990 book The Machine That Changed The World, describing the fundamentals of the Toyota production system as "lean production". Womack and Jones went on to broaden its application in their 1996 book Lean Thi...See the full content of this document
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