Happy Friday! I hope you’ve had a great week. Today, I would like to discuss return on assets. Effective companies utilize their assets wisely by ensuring for example that low margins are supported by an equally low asset density coupled with the ability to remove waste and inefficiencies from processes. Continuous investment in assets andContinue reading “E.O.W(End of the Week) Notable Tip: Return on Assets”
Tag Archives: business operations
Lean Wednesday Tip: Inventory Management
“An effective inventory management process includes the sharing of inventory data between buyers and suppliers. Procurement Managers use the total cost method when purchasing and inventory analysts anticipate and understand demand trends (collaborate with Marketing to understand customer purchasing behavior and trends) and share this information with suppliers.”
Lean Wednesday Tip: Quality Costs
“Internal departments in a firm that are far-removed from daily operations can affect the quality of a product or service. Every department within a company should identify, collect and monitor quality costs within its control.”
Lean Wednesday Tip: Performance Measures
“When you have insufficient information about a product, process or service, you are unable to control it. Ergo, when a process cannot be controlled, the organization is at the mercy of chance. KPIs must be aligned with the strategic goals of a company as well as with its customers priorities.”
E.O.W (End of the Week) Notable Tip: Quality Improvements
Happy Friday! I hope you had a fabulous week! Today, I was thinking about quality. As you have learned, Quality is what the customer says it is, not what you think it is. When does quality begin and how do you ensure your efforts bear fruit in a quality improvement engagement? “Quality begins with educationContinue reading “E.O.W (End of the Week) Notable Tip: Quality Improvements”
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