The unprecedented impact of COVID-19 has been felt in some way by all industries around the world. Supply chains are disrupted, consumer behaviors are changing, and the ongoing volatility both in the direct virus impact and the political response does not look to end any time soon.
How your business responds, however, is something you are in full control of. Leaning and optimizing your business processes is always a fundamental element of long-term success, but it is more critical than ever during the pandemic. Why?
Because the impact of non-value added wastes in a process are magnified by instability. For example, if you have waste due to excess inventory, then that waste will further grow in times of demand instability and disrupted logistics. If you have waste due to non-utilized talent or ineffective resource deployment, that waste will further escalate due to personnel movement restrictions and health and safety conformance.
At the same time, the pandemic offers unexpected opportunities to innovate. Agile companies are refocusing their products and services to serve the post-pandemic planet. At a time when most businesses are hurting in some form, it is imperative to act now to eliminate waste so you can adapt and thrive in the new world.
A successful journey to waste identification and elimination begins with a Value Stream Mapping exercise of your business process. By mapping out the number of steps, rework loops and process metrics, you will be ready to holistically and inclusively analyze your process for all types of waste. There are many different approaches for waste identification itself – from simply walking the process as a team through to more formal simulation exercises that expose otherwise unnoticed bottlenecks, excess inventory and non-utilized resources.
Are you ready to tackle the wastes present in your business?
Our free and handy ‘8 Waste Assessment Template’ will walk you and your team through the identification and prioritization of all the types of waste inherent in your business process – whatever approach you take for analysis. This will facilitate a targeted and optimized platform for Leaning up your business today! The checklist includes examples from both manufacturing and service industries – the method and approach is the same regardless of business sector or size.
Good luck with your journey! For further support in optimizing and removing waste from your business, reach out to us!