How to Implement a Pull System on the Project Portfolio Level
Knowledge-driven industries like software development, marketing, and asset management have found the concept of a pull system to be a highly beneficial strategy. Originally developed for manufacturing, a pull system is a fundamental part of lean methodologies. It is designed to optimize workflow and increase efficiency by only starting tasks when there is demand. Pull […]
How to Do Root Cause Analysis in 6 Steps?
Root cause analysis is a structured problem-solving approach used to identify the fundamental causes of issues in order to address them to prevent recurrence from the actual true cause from which the problem or issues is occuring. . Rather than just addressing the symptoms, RCA digs deeper to uncover the underlying factors that lead […]
Takt Time: What Is It And How To Measure It?
According to a recent study, manufacturers observed a 25% reduction in production time after understanding and efficiently implementing tools to correctly setup takt times in their manufacturing process. Manufacturers need to maintain efficiency in operations for a competitive edge and meeting their customer’s demand. One essential metric that manufacturers use to optimize their workflow and […]
Gross Profit vs. Operating Income: 3 Reasons to Measure Both
Gross profit and operating income are two key metrics in business finance that play a pivotal role in understanding a company’s financial health. While entrepreneurs and seasoned business professionals focus on revenue and revenue growth, tracking these specific numbers offers much deeper insights into the viability of a business venture. Gross profit reveals how efficiently […]
Eliminating and Reduction of The 7 Wastes of Lean Production
Originated in the Toyota car manufacturing company, Lean production is an approach designed to optimize value adding processes and eliminate inefficiencies known as “waste.” These waste contribute to higher costs, decreased productivity, and lower quality output thus affecting business performance. The seven lean waste categories, also known as “MUDA” in Japanese and lean manufacturing, happen […]
Little’s Law: The Road To Stable And Predictable Systems
Achieving a stable and predictable work flow is often challenging in the world of project management. Managers are constantly on the outlook for ways and strategies that can help them optimize value delivery and improve the efficiency of their workflows. Fortunately, we have been introduced to one such excellent tool, that’s great for achieving the […]
The Benefits Of Root Cause Analysis In Continuous Improvement
Continuous improvement is mandatory for businesses that aim to thrive keeping in view the current business landscape that’s continuously evolving and as competitive as ever. With the advent of new techniques and challenges, almost every day brings a new challenge, when it comes to growth and keeping that competitive edge. One of the key tools […]
Definition Of Value In Lean Manufacturing
Companies are increasingly recognizing the importance of being customer-focused in the modern, competitive business landscape. They’ve understood how this trait can help them achieve and maintain a competitive edge over competitors. In a struggle to achieve this goal, many organizations have adopted Lean Manufacturing principles, a methodology centered on maximizing value for customers while minimizing […]
Lean Methods To Improve Material Flow
Material flow is an important topic in any manufacturing operation. When materials move smoothly and efficiently through production, it results in reduced waste, lowest costs of production, and an overall improved performance. Fortunately we can make this possible easily by applying lean manufacturing techniques, as all these tactics focus on reducing waste and increasing […]
Understanding Cost Per Unit: A Comprehensive Guide
If you are a new business owner,you might be figuring out things like how to calculate cost per unit. We’re here to help. Here’s the comprehensive guide that helps you learn extensive details about cost per unit, its calculation, and much more. The unit stands for a single product or service that a manufacturer […]