Eliminating wasteful activity within your business is a branch of lean thinking, which outlines overproduction and over-processing as two key areas of waste management.
It’s important to bear in mind that exceeding customer demand leads to added costs, as anything a client is unwilling to pay for is essentially waste. Similarly, adding unnecessary features to a product increases its price tag, potentially turning it into something that clients are again not willing to pay for. Taking the time to measure productivity for profit ensures you’ll make the most of your resources.
How to get more from your resources, time and people
Today’s challenging economic climate means one thing: capitalising on existing resources is more critical than ever. By taking steps to improve efficiency and maximise productivity, UK manufacturers can reduce wasted product, wasted ingredients, and wasted time – in turn helping to combat rising costsMade Smarter Work Guide