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Benchmarking Basics. What Is It and How Do You Do It?

Benchmarking is a very powerful tool many organizations use to not only measure and gauge their performance against competition, but also to push themselves to be best-in-class.  Benchmarking is a source of competitive advantage and continuous improvement (Kaizen). Wikipedia defines benchmarking as: Benchmarking is the process of comparing one’s business processes and performance metrics to […]

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Do You Have a Real Supply Chain Strategy?

Editor’s Note: Vishnu Rayapeddi is a recognized pioneer of Lean Management and founder of Productivity Solutions.   You can view all of his Supply Chain training materials on Flevy here. * * * * Supply chain strategy.  What is it?  Many might think that there is no distinction in perception between supply chain management and supply chain […]

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Isn’t It Time to Think about Cybersecurity?

Computer security, also known as cybersecurity or IT security, is security applied to computing devices such as computers and smartphones, as well as computer networks such as private and public networks, including the whole Internet. With all the discussion on the internet of things (IoT) and the network of sensors, robotics, RFID and software connected […]

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Theory of Constraints: What’s Limiting Your Organization?

The Theory of Constraints (TOC) is a methodology for identifying the most important limiting factor—i.e. constraint—and systematically improving it.  It was developed by Dr. Eliyahu Goldratt, introduced in 1984 book, The Goal. TOC differs from traditional management views, in that traditional methods seek to make improvements throughout the organization.  They divide the organization into smaller, more manageable […]

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Follow the P.A.I.R. Method of Customer Service for More Success

Editor’s Note: Jim Cucinotta is a very senior executive, with over 20+ years of experience in leading sales, marketing, and operations teams.  He is also an author on Flevy.  You can view his firm’s business training guides here. * * * * We hear a lot about customer satisfaction, servicing the customers’ needs, and being customer centric.  But […]

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Attaining Supply Chain Excellence with Sales & Operations Planning

Editor’s Note: Vishnu Rayapeddi is a recognized pioneer of Lean Management and founder of Productivity Solutions.  He is the author of the S&OP Workshop Presentation on Flevy.   You can view all of his Supply Chain training materials on Flevy here. * * * * Do the following represent a typical day in your work life? Nothing goes […]

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Supply Chain Excellence: Excellence through Lean Thinking!

Editor’s Note: Vishnu Rayapeddi is a recognized pioneer of Lean Management and founder of Productivity Solutions.  He is the author of the popular Supply Chain Fundamentals 5-modules series on Flevy.   You can view all of his Supply Chain and Lean training materials on Flevy here. * * * * In my previous article, I briefly introduced the […]

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Business Risk Basics Enterprise Owners Should Know

Sixty percent of business organizations face a wide range of increasing risks, according to a Chartered Global Management Accountant report on the Global State of Enterprise Risk. But less than 35 percent of these companies have a formal enterprise risk management program in place. Thirty percent of U.S. companies report experiencing an operational surprise over the past […]

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Boosting Project Bottom Lines through Effective Project Quality Reviews and Audits

Corporations throughout the world are losing billions in wasted project spending owing to their mis-management, poor quality processes, lack of knowledge in how to manage projects, etc.   These projects are often not included in the normal auditing practices.  Understanding the process of auditing projects, in addition to their other best practices; will positively impact the […]

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How Can We Fix the Shipping Industry? Let’s Think outside the BOX!

The current status quo is that the shipping industry’s cycle is not synchronized with global economy’s one. As a consequence, the ratio between demand and offer for sea transportation of containerized cargo is bringing shipping line’s revenues even below operational expenses on the majority of the trades. Shall we start panicking? No, maybe we should […]

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Combine Customers’ Online and In-store Shopping Experience for Sales

Fifty percent of smartphone owners compare prices online while in a store, a phenomenon known as “showrooming,” according to Wiser. One third of these then go on to purchase from competitors. Meanwhile, 69 percent of smartphone users “webroom” by researching products online and then visiting a local store to purchase them, reports a Merchant Warehouse study. As […]

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Industry Value Chain: Understand its Importance and Application to the Mining Industry

Editor’s Note: Ganesh Rajagopalan is a seasoned management consultant and former investment banker.  He is also a leading author on Flevy, having published numerous business frameworks on topics such as Strategy Development, Investment Analysis, and Value Chain Analysis.  You can view all his materials here. * * * * Most would be familiar with the term […]

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