Idle time costs as much as active time. In this video, learn how to identify areas where you or your employees are not putting their skills to their most effective use.
- Now I just want to introduce the concept … of utilisation of people. … We're going to back to this later … when we look at utilisation of equipment. … So the utilisation of a person is the percentage of time … that they're working on something useful. … So if they're spending 80% of the time actually on the job, … then that's 80% utilisation. … If a machine is actually cutting metal 80% of the time, … that's what it means. … So if you've got a lawyer … who has to wait for the photocopier or something, … then that's reducing utilisation of that lawyer. … And, you know, they're worth hundreds of pounds an hour. … So they should never have to wait for a photocopier. … If your copier's not very good, get another one. … Have two, have five copiers. … It doesn't matter, because the lawyer … is worth far more than a copier. … What does a copier cost? … Printers nowadays are probably only about two or 300 pounds. … And that's one hour of lawyer time. … If you could save one hour, … that would pay for a whole new color printer. …
- 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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