Join Chris Croft for an in-depth discussion in this video Reducing cost by reducing waste, part of Process Improvement Fundamentals.
- In any company there is a certain amount of waste.…For example in meetings how much of…your time is really productive?…In fact in your working day how…much of your time is productive?…Time is important because your biggest…cost might well be your people…which is effectively their time.…And then what proportion of materials are thrown away…and what's that costing you per year?…Expensive resources like machinery, laboratories…and even office space, what is their utilization?…Are they used all the time with no space wasted…on piles of stuff that hasn't moved for weeks?…There's a Japanese theory about waste…which says that there are seven types.…
Although I personally like a way to remember…them that spells out the word downtime…and adds an eighth one and here it is.…The D of downtime is for defects…which cost you money even if you find out…immediately and cost lots more if you do further…work on them before you realize they're defective…or even ship them out the a customer heaven forbid.…The O of downtime stands for overproduction,…
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Measuring processes
- Using statistical process control
- Optimizing the quality, cost, and time trade-off
- Understanding queues
- Reducing cost by reducing waste
- Improving delivery time
- Thinking about batch sizes
- Understanding Lean and Six Sigma processes