Can Value Stream Mapping Be Used This Way?

I am new to value stream mapping and am unsure when to use it optimally.  I have been tasked to redesign a business process from scratch with a cross-functional team.  Is value stream mapping the future state a possible approach?  Or does it not get detailed enough?  Does a value stream map always have to focus on one product family or can it apply to an entire high-level business process?

I like how a value stream map captures a lot more information than a traditional process map.  When designing this process from a blank sheet of paper, I am trying to figure out what tools would work the best.  All suggestions from you fine people are welcome!  Thanks.