Sometimes as a business owner it’s difficult to look within your own organization and cut waste. But in US Manufacturing sectors there is a direct correlation to the profit margins related to the efficiencies of your business. Being able to identify waste and create the most efficient infrastructure possible is a key factor that could very well make the difference between a profitable organization and one that is struggling. In this except from Maximizing Profits Immediately we take a quick look at the struggles associated with efficiencies and the resources available for business owners.
In today’s environment the need for companies to become more efficient in everything they do has never been greater. Profits are being squeezed not only by a difficult economy, but also by international competition. In this “flat” environment, the ability of countries like China and other emerging economies to manufacture products at very little expense, sometimes subsidized by their government, can be intimidating to U.S. manufacturers trying to compete. But they compete. To do it, they need to eliminate waste, improve efficiencies, and demonstrate to their customers the value proposition of their products.
There is certainly no lack of comprehensive programs aimed at helping managers improve their operations. In fact, the number of available resources can be overwhelming. Books, magazines, and the worldwide web are filled with the likes of Six Sigma, network optimization, continuous flow processing, fishbone, Kaizen, and Kanban – and these are just a few of the latest terms managers responsible for corporate profits are expected to understand and implement. Many of these techniques have been branded by top consulting firms and are used by multinational corporations, sometimes at a cost of many millions of dollars. Other companies expend equally significant resources putting the latest management theories into their own comprehensive profit improvement programs
Examining the theories of motivating a workforce are principle themes explored in the chapters of Maximizing Profits Immediately. Be sure to check out past excerpts of “There is No Such Thing as a Free Lunch,” and “The Backstory: The Foundation of Success.”