In today’s on-demand environment, companies are facing growing challenges around market volatility, costs, long lead times and unpredictable forecasts. Your inventory management decisions can make or break your firm’s financial bottom line. You will find strategies in this book that will let your company meet these daily challenges and optimize working capital efficiency.
That’s the concept behind total productive maintenance (TPM), where maintenance and production personnel cooperate to define, standardize, allocate and perform the tasks needed to maximize overall equipment effectiveness (OEE), which keeps equipment producing quality product at maximum efficiency and minimum lifecycle cost.
At first glance, some firms are intimated with the thought of adopting lean manufacturing because of its fancy sounding name. But, if truth be told, it is actually easier than seems. What you just need to have is the dedication and the discipline to see things through and make change happen.
A Lean system, process, and organisation is one that is waste free. Lean is not about size or number of people employed. A reduction in employees may cut costs, and eliminate the waste of those employees, but does not decrease the proportion of waste to value adding within the organisation or process. Most waste is through products waiting to be worked on by succeeding activities.
Construction is possibly the last frontier for lean. Although manufacturing’s productivity has improved during the last 40 years, the construction industry has experienced a slight decline. Even though the construction world has embraced high-tech tools, we still manage projects the same way we always have, and we are still getting the same poor results. Less than 30 percent of projects come in on time, on budget, and within specification. The answers to improving construction productivity are not in more software or technology.
If you were born with that “entrepreneurial spark” in your eye, then no economist or banker is going to keep you from starting a business. While many analysts may say that it’s not a good time to become a business owner, others have found that buying a business with no money is suddenly a possibility.
Before making these big decisions exporters and investors should spend some time thinking about business objectives.
Kuwait's economy is heavily dependent on oil revenues. The Kuwait government is keen on reducing the dependence on crude oil revenue.
Bahrain is a small island with a population of just over 1 million people. Bahrain’s total area covers 770 sq km; it is the smallest of the six Gulf Cooperation Council (GCC) member states and consists of 33 islands.
The main source of Qatar’s wealth is its vast reserves of oil and natural gas (it has the world’s 3rd largest natural gas reserves) which have made it one of the richest countries in the world.
The key aspects of lean marketing are:
• Market Targeting
• Minimum Viable Product
This sounds like common sense, but how can you apply it to marketing? Find out more in this book.
If you have these feeling then now is the time to take action in order to soften the blow. You need to start today to get your affairs in order. If the axe falls you will be in a much better position than your co-workers. If you follow the steps in this book and nothing happens you will still be much better off than you are now.
The Agile and Lean office approach use a program of continuous performance improvement. This approach does not try to accomplish too much at once and risk complete failure, but to make an incremental change to a value stream, wait for the system to settle down, fully understand the system-wide impact of the changes, and then decide what new change to make.
A popular misconception is that lean is suited only for manufacturing. Not true. Lean applies in every business and every process. It is not a tactic or a cost reduction program, but a way of thinking and acting for an entire organisation. Businesses in all industries and services; including healthcare and governments are using lean principles as the way they think and do.
From the standpoint of lean thinking, value begins and ends with the customer. Customers require a particular product or service from your business, and you must provide it in the amount necessary and on the customer's schedule. Determining the product or service that provides value to the customer stands as the first task for any business.
Go for it! This is a great time to build a startup, and there is no substitute for just doing it.
If you are thinking about creating a startup, do your homework and learn about lean startup. Don't spend six months coding a product; prove that people want to buy it first.
The most important business question is whether or not people will buy your product; so instead of building it, make a webpage with a "click here to buy" button and see if you can get people to click on it. If people click the button, then you ask for their email address to let them know when the product will be ready. If nobody clicks on it, then are you not happy that you did not build the product?
Six Sigma seeks to improve the quality of process outputs by identifying and removing the causes of defects (errors) and minimizing variability in manufacturing and business processes. It uses a set of quality management methods, including statistical methods, and creates a special infrastructure of people within the organization ("Black Belts", "Green Belts", etc.) who are experts in these methods. Each Six Sigma project carried out within an organization follows a defined sequence of steps and has quantified financial targets (cost reduction and/or profit increase).
Is your office inefficiency leading to low worker morale and high workforce turnover?
Are you losing customers or irritated due to disorganized office practices?
Applying Lean principles to your office operations can solve these problems and create efficient knowledge workers that are a real competitive advantage.
Given the success that Lean Manufacturing has shown in cleaning up production processes, why not achieve a Lean Enterprise by driving Lean Office practices into the front office where inefficient procedures, paperwork and bureaucracy in one area can stall the leanest efforts of other operations.
Lean is not about cutting staff and resources. Instead, it is about:
• Focusing people’s efforts creating value for the customer and eliminating waste.
• Speeding up the operation by eliminating idle time created by paperwork and bureaucracy.
New Zealand has an open-market economy, a stable political system, and has been recognized as one of the world’s least-corrupt countries. This allows businesses to operate with confidence in New Zealand.
Exporters to New Zealand should be prepared to adapt their business model to suit the nation’s small population and geographic isolation.
New Zealand consists of several islands. The North Island and South Island, and a number of smaller islands with the capital and Government based in Wellington in the North Island. The resident population is approximately 4.4 million.
New Zealand has an efficient market driven economy capable of delivering benefits to investors including business stability, extensive free trade agreements and active government support for investment.
Investors can take advantage of a business environment consistently rated on many measures as one of the best in the world an environment where it is easy to commence business, where capital flows freely across borders and the quality of life is superb.
They are not examining the actual work being done; the operations are fundamentally the same. Instead, they are left with tired, overworked employees trying to do the same operations with fewer resources.
This approach creates an illusion of efficiency. Real efficiency is about looking at the systems; the way work itself is designed and finding ways to streamline the work so that we do our important tasks very well in less time and with less hassle. Systems are where the costs are incurred. Systems are where the customers show up. Systems are where the value of the agency is created and systems appear to be the last thing anyone is focusing on.
Deep down you have a sense of frustration, a yearning to do something more, go someplace else but fear and uncertainty pull you down. Fear not, take it step by step and slowly you will find yourself more motivated, more fired up and you will start living your life with more passion.
In short, lean management is very much about asking questions and trying things, or encouraging others to try things. Lean management itself is not much about providing the right answer but it is very much about asking the right question.
If you are then this book is for you.
The aim of this book is to give you an overview of the economy and business culture, and potential opportunities. Those new to export will find it a particularly useful starting point.
Nigeria is located in West Africa and shares land borders with Benin in the west, Chad and Cameroon in the east, and Niger in the north. It is the most populous country in Africa and the eighth most populous country in the world. The capital city is Abuja and the three largest and most influential ethnic groups are the Hausa, Ibo and Yoruba.
Six Sigma can be applied to a company that provides housekeeping services. Firstly, the companies working processes would need to be understood. Using the DMIAC method or the define-measure-improve-analyze-control method, Six Sigma can definitely implement quality in any industry.
As the main aim of this methodology is to reduce defects, the first step would be detecting the particular defect. Secondly, data will be collected to observe how, why and how often these defects occur. Next, the Six Sigma team implements an outstanding employees method of working as the normal method for all employees. Finally, new employees are taught the correct techniques.
objective of CEO guide to doing business in Japan is to provide you with
basic knowledge about Japan; an overview of its economy, business culture,
potential opportunities and an introduction to other relevant issues. Novice
exporters, in particular will find this book a useful starting point.
CEO Guide to Doing Business in Brazil will enable companies and individuals to build their networks, understand how to do business in Brazil and connect with business partners worldwide, this book will increase your opportunities to meet and engage with potential partners during and after Brazil 2014 FIFA World Cup and the 2016 Olympic and Paralympics Games.
The main objective of this book is to provide you with basic knowledge about Taiwan, Hong Kong and Macao; an overview of their economy, business culture, potential opportunities and an introduction to other relevant issues. Novice exporters, in particular will find it a useful starting point.
Hong Kong is an international city with a population of almost seven million. It the world's 12th largest trading economy and one of Asia's leading financial and business centres. Its per capita Gross Domestic Product ranks 7th highest in the world. Hong Kong has been ranked as the world's freest economy in the Wall Street Journal and Heritage Foundation's Index of Economic Freedom for 15 consecutive years on the other hand Taiwan’s strategic location is one of its most significant advantages for international investors.
The balancing act of maintaining a high level of service and low costs is becoming harder for supply chain managers as businesses try to meet the growing customer mantra of “more for less.” This pressure comes at a time when business is becoming more global, supply chains are lengthening, and competition is on the rise.
Although this challenge is not new, the outlook is that it will intensify as a number of factors; economic, regulatory and market-driven become more acute. Consequently, supply chain performance will have increasingly significant impact on overall business success.
The problem is not with lean itself, however. Indeed, we believe that lean has much to offer banks. The problem lies in the approach and implementation. Typically, banks go wrong in one of two ways. One, they apply lean too narrowly and from too limited a perspective. There is no cohesive, end-to-end view of the process itself or the alignment of all of its elements. Alternatively, the effort is driven solely from the top down and fails to engage and involve the key people who actually perform the critical tasks within the process. This leads to a lack of process ownership and accountability. The end result, in either case, is that the lean effort delivers only a fraction of its potential benefits.
You will find workers in South Korea to be disciplined, hard working and keen to undergo training. South Korea greatly values its workforce highly and is keen to attract high-quality skills from overseas. It has recently relaxed restrictions on visas for overseas workers. The organisation Contact Korea has Korean Business Centres in 29 countries around the world, dedicated to attracting talented people to work in South Korea.
So lean management accounting metrics is all about breaking away from traditional cost accounting cost objects like product or job and is driven by a new cost object 'Value Stream'.
As part of lean accounting exercise, we define the scope of value stream cost object and map the business process activities to this cost object.
Lean accounting helps organisations going through lean transformation to develop their management accounting systems to support the lean philosophy. Traditional accounting systems (particularly standard costing) result in decisions which are anti-lean.
In the beginning of 2011, for the most part, most people thought that this was just impossible, that there would be no reshoring to the U.S. or UK, that everything was going to China, manufacturing was leaving both countries and it will never come back and I think the striking thing is how much that's changed in the last three years.
You went to China because it was just so cheap you couldn't help it; but if you've got the engineers and people in the U.S. or UK, and the customer base in the U.S. or UK, you'd like to be close to the customer. It gives you a shorter supply chain.
This book looks at giving anyone taking on the challenge and adventure that comes with opening a franchise business a step-by-step overview of the major stages along the way.
Over the past few years, these retailers have dramatically changed how they do business in order to stay competitive in the marketplace. How products are ordered, how inventory is moved throughout distribution centers and barcodes vs. RFID technology for inventory management have all been taken into consideration in order to work as swiftly and efficiently as possible.
While lean thinking has been rapidly expanding amongst large manufacturers and retailers, there are still a lot of companies that have hardly implemented any lean concepts.
At the end of the day lean is about adding value for customers; but how can companies do that while also reaping in benefits for themselves?
If one takes the view that outsourcing is driven by a desire to reduce costs, by buying into a consistent set of scalable processes which are shared across a number of organisations, then it follows that none of these areas should (or could) be sources of unique competitive advantage.
In today's business environment, companies are being held accountable to a growing list of stakeholders who assess company performance against a variety of criteria, from financial and operational performance to labour practices and environmental issues. The pressure for greater transparency in all areas of performance is increasing; not only for consumer-facing companies, but for all business entities throughout the supply chain; including manufacturers who are several steps removed from the ultimate consumer.
Let me suggest a concept called: 5S. 5S is an organizational tool born out of the Toyota production system called Lean.
The basic idea behind 5S office management is that a messy office is full of waste. Not only the waste you can see, i.e. the mess; but the time wasted in looking for the right file, your phone, eye glasses. You get the idea. (Caveat: Lean tools like 5S are designed to work together to create a synergistic whole. Ideally, they should not be implemented individually, but rather as a part of an entire Lean organization. That being said, 5S is something you can implement today, with the understanding that your goal is to create a more effective and efficient office as a whole.)