Eight Types of Waste
The well-known Toyota car company identified seven types of waste. The wastes had an impact on Productivity and Profit. An eighth has been added more recently. Waste reduction (Muda) can improve the Productivity and Profit of your business. In Japanese, this is referred to as reducing “muda” (pronounced Moo-da).
Has your business been operating for a reasonable length of time? Then inefficiencies and wasteful activities will have crept into the system.
Throughout 12Faces, optimising your business to maximise its profitability is a focus. Clearly, waste is less than optimal. Spend time on identifying waste. Then spend time on waste reduction (muda). Identify areas to improve your Profit. Therefore, the exercise is thoroughly worthwhile.
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