Key performance indicators (KPIs) are measures of a company’s strengths and weaknesses of the business. They should be used in comparison to the external competition and internal customers to improve company’s economic standing. In Supply Chain, the warehouse is a critical function. Should products not move effortlessly within the warehouse, a business could come to face […]
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Just-in-Time vs. Just-in-Case: An Inventory Dilemma
As manufacturers are reaping the benefits of Lean and Lean Six Sigma or other continuous improvement processes within their facilities, the importance of eliminating waste still hold sway. So the question now facing these manufacturers is this: Has the time come where Just-in-Time (JIT) inventory levels need to be changed to Just-in-Case levels? With the […]
The Art of Transforming Waste into Profit
Here’s a little different tactic from the usual idea of reducing or eliminating wastes in a manufacturing process. How about gathering the waste from the other steps in a manufacturing process and using it to make a new product? Many manufacturing firms are at a loss as what to do with by-product waste. This idea […]
Building Resilience into Supply Chains
The supply chains of most companies, large and small, exploit a world of opportunities. But, increasing global exposure comes with an increasing range of risks. These companies’ complex networks of suppliers and customers are as diverse as the goods and resources they manage. Within the same supply chain, giant multinational companies can sit side-by side […]
Want to Train Your Staff on Lean and Organizational Excellence?
Several training series have recently been published on Flevy on the management topics of Lean (Operational Excellence) and Organizational Excellence. These training series can be used for internal certification programs in organizations of all sizes. Lean Shop Floor Training Series – 8 Modules. This is a Lean training series for beginners. With this series, you can arm your […]
Our Interview with the Co-founders of TheConsultantLounge, the One-stop Hub for Consultants
We recently had the opportunity to speak with the two co-founders of TheConsultantLounge.com, Laura Woodroof (picture on the right below) and Martina Segerer. TheConsultantLounge is an online and offline community for smart and passionate management consultants who were looking to expand their network and share their experiences across the broader consulting ecosystem. Both Laura and Martina are seasoned consultants with combined […]
Flevy’s Definitive Guide to Operations
This is a guide to navigating Flevy to find the documents and other resources you need related to Business Operations. “Operations” is a broad, vague term. It can convey a lot of different meanings to different people. If you don’t find what you are looking for in this article, please email us at support@flevy.com. First, a very […]
How Top 1% Businesses Measure Their Success
Many of us have heard the old adage “What gets measured gets done.” Organisations are awash with KPIs–key performance indicators. Variously attributed to 19th Century UK Prime Minister Benjamin Disraeli and American author Mark Twain the oft-quoted phrase, “There are lies, damned lies and statistics,” reflects justified cynicism about the cult of measurement. The greatest […]
Lean Initiatives in the Office
Why implement Lean in the Office? If you think Lean only applies to industry and manufacturing processes, you are wrong! Here’s why: The operational efficiency of a company should not be simply restricted to the “production” side of the activity. The rapid delivery and manufacture of products is never enough if your clients are waiting […]
The Global 8D Problem Solving Process
“If I had an hour to save the world I would spend 59 minutes defining the problem and one minute finding solutions.” – Albert Einstein The 8D (Eight Disciplines) Problem Solving Process is a team oriented and structured problem solving methodology that is mainly used to identify, correct and eliminate recurring problems. The 8D Problem […]
What Are Balanced Scorecards?
Balanced Scorecards tell you the knowledge, skills and systems that your employees will need (learning and growth) to innovate and build the right strategic capabilities and efficiencies (internal processes) that deliver specific value to the market (customer) which will eventually lead to higher shareholder value (financial). –– Robert Kaplan & David Norton In 1990, Art […]
Dump the Waste!
Sharpen your Competitive Edge by Eliminating Non-Value-Added Activities in your Organization. Recession or boom, companies need to sharpen their competitive edge by applying Lean Management principles to cost reduction – that is, the elimination of non-value-added activities or waste from the value stream processes. Be Lean In the Lean Management philosophy, all activities in an organization […]
