Driven by a goal to accelerate global adoption of value stream management, Value Stream Management Consortium (VSMC) recently announced its formation. Aiming to function as the core of information and education in this space, VSMC was founded by leading technology providers such as Digital.ai, HCL Software, Plutora, ServiceNow, and Tasktop.
Value Stream Management (VSM) provides visibility across the business of the organization. VSM helps organizations understand whether there is duplication of efforts or teams are delivering features that are not creating value for customers. Building on this need, the VSM Consortium aims to help organizations improve performance through the accelerated adoption of VSM.
Helen Beal, chair of the Value Stream Management Consortium, said, "At this stage in the development of value stream management it’s important that we create and foster a community of experts to further VSM practices, innovation, and adoption. By creating this community, we will increase and accelerate the use of VSM, while developing and instilling best practices and standards. And, ultimately, just like the practice of VSM itself, we will help deliver the utmost value to industry practitioners."
While VSM is not a new concept, digital transformation has made it essential for all businesses. VSM is emerging as a distinct market category, where organizations are finding value in optimizing value stream to get a competitive advantage. Consulting organizations such as Visible.is, are also instrumental in providing value stream resources to help organizations realize the full potential of VSM.
According to Gartner, "By 2023, 70% of organizations will use value stream management to improve flow in the DevOps pipeline, leading to faster delivery of customer value." Value Stream Management is equally applicable to team design, as Team Topologies also talk about product teams aligned with a particular value stream.
As a part of their offering, the VSMC will publish the inaugural annual Value Stream Management Report in May 2021. VSMC also has a paid professional membership open to all, where members will receive the latest updates and learning opportunities. Membership is available in three types - Leader, Partner, and Influencer with costs ranging from $50k per annum to $100 p/a.
Readers can follow VSM Consortium on Twitter or join the LinkedIn group here.