We’ve all heard the expression “cheaper, better, faster.” Let’s focus on the “faster” aspect.
“Faster” is critical as nothing gets better with additional time. “Faster” means:
- Costs are lower
- Processes are built with speed of execution in mind
- Information to support critical processes is readily available–the need to track down subject matter experts is a rarity rather than the norm
- Capacity increases as a function of acceleration–you can do more with the same staffing level, factory floor space, etc.
Here are some questions you should be asking:
- Where are there bottlenecks in your processes or supply chain that negatively impact acceleration?
- Are your product lead times and service levels competitive? How do you know if they are competitive?
- Are your critical processes accelerating or decelerating year-over-year?
Thought for the week:
“Life is like a ten-speed bike. Most of us have gears we never use.” – Charles M. Schulz
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