Getting Rid Of Waste

I just read a book on the Toyota Production System. One key principle of TPS is the elimination of waste. Rather than focus directly on increasing productivity, in TPS productivity is a trailing indicator: get rid of waste and productivity will rise as a consequence. The term waste is used in the broadest sense of the word including; inventories, waiting time, poor quality, unnecessary work, movement or transportation, mistakes leading to corrections and unused creativity etc. Learning from the lean, what could that mean for you?