Tips To Ensure Your Business Will Not Lose Money

A lot of companies lose money daily because they aren't paying attention to the wastes that are all around them

. These are easy to ignore, however wind up costing you money in the long run. Wastes come in all size and shapes, however in the end, they all do damage. Some just do the damage a little faster than others. Even though there are various kinds of wastes, each one boils down to one thing-you losing money.

It does not matter if you are losing money on the front end or the back end, or if you are losing money in labor or materials, the point is that you are losing it someplace. The key or the opportunity is to identify the waste before it gets out of hand and then correct the problem. How do you detect waste? All you need to do is look around. Waste is all around us, from the process used to make those parts you are selling, to the extra labor that is standing idle because the machine is broken, waste is always around.

You've got to be able to reduce the waste. One of the largest areas of waste is down time. This can be while a machine is being repaired or if it is just down for routine maintenance. But if it's down for routine maintenance, then there needs to be a backup plan so that the waste is minimal. These kinds of things should be scheduled well in advance and at convenient times when they will do the least amount of damage to production.

If a machine is broken or there's an emergency, there should be a contingency plan in place. This means that there ought to be parts ready to go or at least a plan to move forward towards fixing the problem. All of these plans ought to be known by all relevant parties and if there are several plants, with the same kinds of machines, then the plans really should be uniform and the same in all locations.

Having standardized practices for emergencies and processes is a must in order to have them run efficiently and to keep things advancing. This way, the training is all standardized and every plant knows precisely how to respond when a certain situation arises, no matter what location it occurs. These plans need to be down on paper with clear, concise steps and every person involved should know them.

by: Craig Calvin

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