Value Stream Mapping (VSM) is a popular and easy tool for visualizing production processes in enterprise. It allows one to eliminate or reduce waste, i.e., activities that do not create added value for the customer. The versatility of this tool allows it to be used in industry. There are theoretical, methodological, and practical aspects encountered by practitioners in developing Value Stream Mapping (VSM) for a specific manufacturing industry, but they are not fully resolved and require clarification. This paper presents a case study that describes the use of Value Stream Mapping (VSM) in the production of steel pipes. Relevant data from this process were collected and analyzed at the start of the project. An initial process was mapped, associated waste was identified, and then future processes were mapped. The financial results were estimated. Consequently, the process was improved, and savings were achieved. The article should constitute the basis for further development of an improvement project for a selected company aimed at improving the areas identified in a given article.