Accounting Dictionary - Letter L

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Low value-added activity
is an activity that consumes resources but adds little value to customers. The elimination of a low value-added activity does not change or slightly diminishes customer satisfaction. Examples of low value-added activities include setting up machines, moving product parts, waiting, reworking, inspecting and storing.
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