Central to Lean Management is the concept of waste, known as 'Muda'. Lean practitioners strive to eliminate Muda to streamline operations. This ties closely with 'Value Stream Mapping', a tool used to visualize and analyze the flow of materials and information, identifying areas of waste and opportunities for improvement.

One of the primary tools in Lean Management is the 'Kanban Board', which helps visualize work, limit work-in-progress, and maximize efficiency. 'Just-In-Time (JIT)' is another key principle, focusing on reducing inventory costs and ensuring materials arrive exactly when needed. 'Total Productive Maintenance (TPM)' aims to enhance equipment effectiveness through proactive maintenance and employee involvement.

'Kaizen', or continuous improvement, is at the heart of Lean Management. It encourages small, incremental changes that collectively drive significant improvements. The '5S Methodology' supports this by organizing the workplace for efficiency and effectiveness: Sort, Set in order, Shine, Standardize, and Sustain. 'Poka-Yoke', or mistake-proofing, helps prevent errors and defects, contributing to smoother operations and higher quality outputs.

Implementing Lean Management impacts 'Internal Business Processes' and overall 'Operational Efficiency', leading to a more agile and responsive organization. By fostering a culture of continuous improvement and waste elimination, Lean Management helps organizations stay competitive in a dynamic market environment.