It is difficult to measure the amount of profit lost to time spent waiting both for your customers and for your employees. In this video, learn how your company can handle changes in the flow of services.
- The next cost that many businesses have … is quite a subtle one. … You may not have noticed it. … It's the cost of queues, the cost of having to wait … for things. … Now there are two costs associated with queuing. … The first one is the effect on the customer, … because they don't like it. … And the second one is the cost of managing the queues. … So let's look at the effect on the customer first. … There is a risk that they won't buy so much … because they have to wait for it. … Or, that they'll go elsewhere. … An examples of queues, … 'cause sometimes you might not realize these are queues, … obviously there's waiting for parts … or waiting for a finished product, … so you get queues halfway through your company … as you wait for the previous person to give you … whatever it is you need. … There might be waiting to get your car serviced. … So you could be waiting for a service. … When you phone up the telephone helpline, … that's a queue. … Even email's a kind of a queue because when you email …
- Different cost areas affecting your business
- Comparing cost vs. income
- Enhancing your work environment
- Focusing on the most important management tasks
- Getting better deals on raw materials and labor
- Recognizing your optimum quality level
- The hidden costs of subcontracting
- Where to avoid cutting costs
- Top ten cost-cutting actions to take
Skill Level Beginner
What to expect1m 3s
1. What to Reduce
2. Reducing Labor Costs
3. Costs Other Than People
4. Top 10 Tips
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