When you’re struggling with sales growth it’s important to explore new avenues to improve your profitability.
The key to this can be to eliminate waste, an inevitability in all businesses, which if removed will directly impact your bottom line.
In order for you to eliminate waste, it’s important to understand what constitutes waste in business and where it can be found, which is why we have briefly outlined “The Seven Wastes” for you below:
- Overproduction – Producing more than you need or producing it earlier than required.
- Waiting – Can the processes in your business be improved to use your time more effectively?
- Unnecessary inventory – A direct result of overproduction and waiting.
- Transporting – Every time your products are transported there is a chance for damage or loss to be incurred.
- Inappropriate processing – Are you using the most suitable tools and the most suitable people for a job?
- Unnecessary Motions – Is every process as small or as easy to achieve as possible?
- Defects – They will cost your business both time and money either now or in the future.
If you would like us to conduct a waste audit on your business to determine how much your profitability can be increased, contact Ian Lloyd now on 01925 761 600 or email email@example.com