what is mean by lean system of business?

Answer 1

First answerer is correct, but it usually implies keeping the quantity of stock to a minimum and ordering only to satisfy customer demand.

Answer 2

Need to see in what context it is portrayed but usually where administrative costs of running your business are very small creating ability to either pass on the savings to the customer or to increase the profitability.

Answer 3

Simply....Eliminating waste. On all levels, including product flow, the customer drives the process, only produce what the customer orders when he orders it (for example). Improve all processes involved to run as efficiently and cost effective as possible.