Which principle in QDM focuses on waste reduction or elimination?

The principle that focuses on waste reduction or elimination aligns closely with the concept of optimizing business performance. This principle emphasizes the necessity for organizations to streamline their processes, minimize resource utilization, and eliminate any activities that do not add value to the final product or service. By effectively identifying and managing waste, organizations can improve efficiency, reduce costs, and enhance overall performance.

In this context, waste can refer to anything that does not contribute to a customer's satisfaction or the effectiveness of the business processes. As organizations work to optimize business performance, they often turn to methodologies such as Lean management, which specifically targets the reduction of waste as a crucial step in improving operational effectiveness and responsiveness to market demands.

Understanding this principle helps organizations to not just focus on immediate performance metrics but also to create sustainable practices that support long-term success by ensuring resources are utilized in the best possible manner.