Shaving Your Costs While Maintaining Quality
Cost of Goods Sold (COGS) is the cost associated with the manufacture of your inventory stock, which incorporates both the raw materials cost and the labour costs. For the business to profit, the cost of production needs to decrease as the sale price increases. However, reducing production cost cannot come at the expense of quality. […] ... Read More
March 10, 2018 business costs, cost control, cost efficiency, lean businessHow Better Supply Chain Management Can Give Manufacturers a Competitive Edge
It’s a tough time for many manufacturers; increasing competition from markets with comparatively low labour and input costs is putting pressure on many local manufacturers. Some sectors, such as automotive manufacturing, are slowly disappearing from large western economies – only recently, almost 100 years of car making history came to an e ... Read More
January 12, 2018 AU, lean business, suppliers, supply chain, supply chain managementWhat You Need to Know About Value Streams
Value streams, at their ideal notions, are defined by the sequential processes a business uses to create solutions that provide the best possible quality and value added to people and society. Value streams can either deliver the end customer value directly or support internal business processes to achieve this. Lean methods focus intensely on the ... Read More
January 9, 2018 lean, lean business, valueThe Importance of a Lean Business Model
The term lean was coined to describe Toyota’s business model during the late 1980s. When it comes to a lean business the idea at its core is to maximise customer value while minimising waste. Lean means creating more value for customers with less resources. The ultimate goal in a lean business is to provide value […] ... Read More
January 8, 2018 business models, customer, lean, lean businessWhy Should You Operate Multiple Warehouses?
At an early stage in a business, it usually makes sense for inventory stock to be kept at and managed from one location, whether that location is a small warehouse or a stockroom behind a brick and mortar shop. But at some point in your business’ growth cycle, operating multiple warehouses becomes a much more […] ... Read More
December 1, 2017 lean business, multiple warehouses, warehouse managementThe Concept of Value Stream
When trying to create value to customers, you need to make a value stream. A value stream looks at all the steps and processes used from the beginning of value creation until the delivery of your end result to a customer. What is a value stream? In essence, a value stream is an amalgamation of […] ... Read More
December 1, 2017 customer experience, just in time inventory, lean business, online inventory managementWait-loss techniques for your lean business
The first thing to understand about a lean business is that fundamentally, it is not just about a cost-saving, or is it a short-term manufacturing goal for a zero-waste bent to please the environmentalist customers you may have. It is about a method of thinking that should govern all processes and operations in the company, […] ... Read More
October 26, 2017 lean business, lean inventory management, lean manufacturing, lean production