A successful business requires both a well developed strategy and the ability to execute on that strategy. Strategy without execution is merely theory. Many companies develop robust strategies, but fail at operationalizing their strategies into implementable steps. In this article, we will provide overviews for 12 business frameworks related to various aspects of Strategy Development […]
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“I’m Sure It Was Here Yesterday!” – Problems with Inventory Counts
Maybe it was the latest cycle count, the picking errors report, the reorganization of the warehouse, or the procurement staff that brought it to your attention. But you’ve got less of what you thought you had and more of what you didn’t think you had. Drives the purchasing people crazy. The first thing you do? […]
The Ultimate Reference Guide for Consultants
The majority of documents available on Flevy are produced by seasoned consultants and consulting firms. Many of these documents were produced FOR consultants, as well. Below, we have listed a number of must-have references for anyone working in management consulting–and, in particular, those who run their own boutique firms. They are roughly grouped into common […]
Effectively Controlling Your Business’s Costs? 5 Frameworks on Cost Management
Managing and reducing costs is a critical for any organization’s survival. It’s a prerequisite for staying competitive. Below are 5 frameworks used by management consulting firms specializing in Cost Management. They cover initiatives that range from department-specific to enterprise-wide. Cost Reduction Opportunities (across Value Chain) https://flevy.com/browse/business-document/cost-reduction-204 This document identifies 45 cost reduction initiatives across the […]
4 Must-have Process Improvement Frameworks
Process improvement is a critical part of improving operations in any organization–and in any function. By identifying those processes that are in most need of improvement, we can significantly increase the speed at which a company operates and greatly reduce its costs. Inefficient operations is a condition that affects all size companies–though, in particular, larger […]
13 Modules to Maximize Performance Improvement and Cost Reduction
Lance Latham is an executive with expertise in Operations Management and Process Improvement. Regardless of company size or business arena, Lance consistently demonstrated that the same management methods that raise output quality, increase productivity and efficiency, and drive down operational costs in one environment are equally effective when applied in another. He’s a developed a […]
Achieve Operational Excellence – Gemba, Lean, Kaizen
Operational Excellence is an element of organizational leadership that stresses the application of a variety of principles, systems, and tools toward the sustainable improvement of key performance metrics. Much of this management philosophy is based on earlier continuous improvement methodologies, such as Gemba Walk, Lean Manufacturing, and Kaizen. The focus of Operational Excellence goes beyond […]
Recommended Documents by Business Topic
UPDATE: This article will no longer be updated. All updates are now being made directly to our Management Topics section. Due to the rapid growth of our documents library, we have developed a less manual way of organizing our documents. We have organized documents into Business Toolkits, where each toolkit is focused on a specific business project […]
Does Your Warehouse Make the Grade?
When reviewing your operational performance, grade yourself on how your business rates in the following best practice areas: 1. Receiving Does the receiving clerk keep a receiving log, indicating dock activity for each shipment by date? This log can prove valuable for reference purposes by purchasing, accounting, and in filing claims with carriers and suppliers. […]
10 Errors That Ruin Process Documents
Process documents are a necessary part of employee training. They help your entry-level employees learn how to get from A to B in your workflow system, and introduce them to your task and software basics. For any type of complex procedure or management systems, process documents are a must. However, this doesn’t mean they’re always […]
3PL: The Benefits of Third Party Logistics
The speed and efficiency with which your supply chain moves can make or break your company. Inefficiencies add up, costing money unnecessarily. In today’s cutthroat business environment, with consumers focused on value and speed, only the most efficient companies thrive. Many companies find that working with a third party logistics (3PL) provider helps them operate […]
