Procurement Manager at Confidential | Strategic Sourcing, Supplier Performance
35 days Challenge Post-15 15. Carrying Cost It’s expensive to hold onto things. The carrying cost is the cost of storing inventory, including rent, labor, and the opportunity cost of tying up capital.
Founder | CEO | Principal & Executive Consultant at CONTINUUM Workforce & Labor Optimization, Performance Improvement, Operational Excellence, Supply Chain Strategy, Facility & Network Design, & Change Management Expert
Efficient transport drives staffing reduction! With the right transportation services, companies can streamline operations and reduce staffing needs, helping to cut costs and boost productivity. Learn more in the article below. #supplychain #logistics #efficiency
Supporting NYS OPWDD Service Participants | Parent - 3 Young Men with Autism | NYS OPWDD DDAC Committee Member /Residential | Person-Centered Support Brokerage | Policy Development -NYS Certified Housing Settings
"The journey for '50-ish' Returners to strategically navigate and commit to a job search within the Financial Services industry calls for unwavering determination and resilience. Despite co-authoring a book outlining a comprehensive roadmap for re-entering the workforce after family leave, I still find this journey daunting. My pivotal VP roles supporting Structured Product lines underscore my contributions and work ethic, yet I continue to press on. I've recently added a certification in Operations to further enhance my skills. #returners #structuredproductsupport #clientservice #cdo #securitizedproducts #privateequityadministration #takeachanceonreturners https://lnkd.in/eHVWEwkD #operationsmanagement.
Great insights for critical times. Operational efficiency is key, so mastering cost-cutting methods is vital for any busy workshop. Let's continue to share and learn together. #SandvikCoromant #manufacturingwellness
Hoping to achieve Operational Excellence? DOWNTIME is a great place to start. It's an acronym for: +Defects +Overproduction +Waiting +Non-utilized Talent +Transportation +Inventory +Motion +Extra Processing These make up the 8 wastes of lean. If removed, they lead to faster, more efficient, an value-added processes. Naming and categorizing them is the best and first place to start. By assigning a name, they become easier to see and address. ** 1/ Defects Rework and scrapping can be costly. Try catching mistakes early. It saves time and avoids headaches down the road. *** 2/ Overproduction The worst of all the wastes! Overproduction triggers other wastes to appear Avoid this Domino effect. Have you ever made too much of something and felt stuck with it? If you already know this feeling, make what you need when your customer needs it. *** 3/ Waiting The easiest waste you can recognize. When you're waiting, you're not adding value. So, how about finding ways to keep things moving on? *** 4/ Skills Don't waste human talent. Unlock the superpowers of people around you. Engage the frontline workers to improve processes. Put to good use everyone's ideas and skills. *** 5/ Transportation Stuff travelling all over the place can be a hassle. Be smarter about how materials move around. Streamline your material flows. Excessive movement can be expensive. Reduce it, and the Finance team will thank you! *** 6/ Inventory You know that feeling of having way too much stuff piling up? It's a pure cost. Money just sitting around in the form of raw materials, WIP, or finished goods. *** 7/ Motion Running around like a headless chicken? Not a big deal. It's endemic in almost every business process. Just sit somewhere and watch people walking around. *** 8/ Extra-processing This waste refers to doing more work, adding more components, or having more steps than required. Have your customer in mind before starting work, and do only what's needed. It's like a shortcut to productivity! *** P.S. If you enjoyed this, repost it for your network and follow me Michael Parent for more.
Last week, our dynamic "Do Work" team gathered for an insightful lunch and learn session focused on Production Planning. We discussed the complexities of batching work, experiencing firsthand the impact of grouping tasks into large batches with similar statuses before moving them to the next stage or trade. Key Takeaways: *We explored how external factors like design queries, weather changes, and supply chain issues can cause unforeseen delays, leading to these large batches. *Discussion highlighted that certain trades might inadvertently guide us towards larger work batches. *Most importantly, we realized the significant effect large batches can have on the continuous flow of work. Our Goal: By increasing awareness of these challenges, we aim to better identify and avoid potential pitfalls in our projects. This heightened understanding is crucial for enhancing schedule outcomes, benefiting both our trade partners and clients. #DCP #BUILTogether #GeneralContractor #TeamWork #RVA
Envision your business experiencing a 4X surge in productivity today, and imagine achieving this without any additional investment. Captivating, isn't it? Read for more 👇
The switch cost effect: How task switching impacts productivity In this article, you'll explore the switch cost effect in more detail, examining what it is, how it affects productivity, and what you can do to minimize its impact. https://lnkd.in/d7rBMB5Y
Rule number one in manufacturing (and really, any field): Don't get stuck! While cutting costs can seem daunting, solving pivotal issues now brings immense satisfaction and long-term benefits down the line.#SandvikCoromant #Manufcaturing #Metalcutting
