The cash cycle procedures are undoubtedly the most important process procedures to optimize for any business – from when you spend money to when you get money. The are four key cash flow control procedure areas. Learn how cash flows through these areas to make the cash to cash cycle. What procedures improve cash flow?
A lot of companies are implementing a lean daily management system to develop a lean competitive advantage, but then question if what they are doing is really lean. Some people think applying lean is like applying six sigma. But, Lean is not like six sigma. So how do you know when you have gotten lean? In other words, what are examples of a lean company? Here are ten simple ways to tell how lean you really are. Continue reading What are Examples of a Lean Company?
There are three core process flows within your company: your cash cycle, your manufacturing (or fulfillment) cycle, and some have a design cycle. What is the difference between these important cycles? And what are the 3 core process flows within your organization all about?
From its inception, information technology (IT) has been changing the way business is done. IT is changing the basis of business from labor and manual skills to knowledge management. The jobs required by information technology in business, as well as the technology itself, are changing the social system of your organization. Information technology is key to a firm’s competitiveness — organizations that are unable to adapt to the rapid pace of technology change will not survive in the marketplace of the future. Let’s look at how information technology is changing organizations. Continue reading How Is Information Technology Changing Organizations?
As a manager, your span of control is simply the number of employees that report to you directly. Competent workers should have little need for managers to guide them. So, span of control is inversely proportional to subordinate competence, trust and layers of management. Do you know what it means to align your business by product flow? Continue reading What Are the Benefits of Product Flow Alignment?
Workflow diagrams and Rendered Process Maps translate abstract UML, or Unified Modeling Language, symbols of squares and diamonds into graphical images to explain your business process visually. Continue reading How to Use Workflow Diagrams and Rendered Process Maps
First, what is Lean Thinking anyway? As the name implies, it is really a mindset – a way of viewing the world. Lean is about focus, removing waste, and increasing customer value. Lean is about smooth process flows, doing only those activities that add customer value and eliminating all other activities that don’t. Continue reading What Is Lean Thinking?