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In business, you have three primary levers – net profit, return on investment, and cash flow. You want all three levers to move in the right direction. A common mistake is optimizing for one of these metrics, which may inadvertently make one or both of the other metrics go in the wrong direction.
It’s important to view your business as a system, and the system improves when you move the three metrics the right way.
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MORE IDEAS ON THIS
Productivity is the act of bringing a company closer to its goal. Every action that brings a company closer to its goal is productive. Every action that does not bring a company closer to its goal is not productive.
Productivity is not about getting more done in less time. It’s about gettin...
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In a warehouse setting, throughput, inventory, and operating expenses are proxy metrics that represent net profit, return on investment, and cash flow, the three levers of a business.
Throughput: the rate at which the system generates money through sales.
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A manager has the ability to answer three simple questions:
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Bottleneck: a resource whose capacity is equal to or less than the demand placed upon it.
Non-bottleneck: a resource whose capacity is greater than the demand placed on it.
Because bottlenecks are the constraint in the system, if you waste any time o...
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Utilizing a resource means using a resource in a way that moves the system toward its goal. Utilizing a resource is a productive action.
Activating resources means using a resource, whether or not there is benefit from the work its doing. This explains why ...
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Although the 5-step process above can work in any organization, the exact details and application must be tailored to the specific circumstances and challenges in your organization.
The constraints that you face may not always be physical. There could also be intangible constraints, such as...
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At its core, manufacturing is a series of dependent events. Ensuring the right interaction between these dependent events is essential for the success of the manufacturing business.
To improve in manufacturing, you must optimize for the entire system, not just a local area. The reality is t...
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CURATED FROM
IDEAS CURATED BY
Your business is a system.
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If it’s unclear how a decision is made and whose input is required, people will be unsure if a decision has actually been made and if it should be actioned. Some people will start to implement the decision, while others ignore it instead of following it through.
If you want people to move ...
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