SM5.3 TOC to Optimise Your Sales Funnel
Rapid Optimisation of Your Sales Funnel to Improve Profit The Sales Funnel is a well-known method of describing the several layers that a possible customer needs to pass through en route to becoming a customer. Each layer contributes more information about your business to the potential customer to encourage them to purchase. The Theory of […]
SM5.2 Benefit from Theory of Constraints in Retail
The Theory of Constraints (TOC) argues that good growth can be achieved by focusing on the one or two limiting factors or “Constraints” in a production system. This article applies TOC to the Wholesale/Retail sector.
Cost of Over and Under Stocking
In a manufacturing or retail environment, having too much inventory of products your customers don’t want and/or too little inventory on hand of what products your customers do want will cost you money and, consequently, profit. Many service businesses also have inventory even if it is items like stationary incidental to their main operation. This article shows you why under and over stocking costs and how to reduce the damage.
SM2.11 80/20 Inventory Management
If inventory is something you have to manage in your business, the The Amazing 80/20 Rule Tool can have a powerful impact on Profit and Cashflow.
This is a Yellow Belt article.
How Kanban Improves Work Flow
Kanbans are a tool for structuring how work flows into the work-in-progress queues so that workers do not get overloaded and can use their time most effectively. Kanbans, and variations on them, are widely used in software projects (e.g. Scrum and Agile) and manufacturing (e.g. Lean and Six Sigma). Blue Belt
Dice Games Simulate Profit Game
READY TO PLAY A GAME? SIMULATE YOUR PROFIT GAINS. Throughout 12Faces we talk about several different Workflow and Inventory Models. The Simulation Dice Game will quickly give you an impression of HOW these models work in practice. Think that YOUR business doesn’t have a Production Line? That this doesn’t apply to YOUR business? Restaurant – raw […]
SM4.0 Business Efficiency: Waste Reduction Introduction
Eight Types of Waste Business efficiency relies upon managing and reducing waste Here are 8 tested ways for doing this What is Waste? A straight forward explanation of waste is that it is anything that adds no value to the final product or service. This is something that the customer is not willing to pay […]
My Business’s Problem Symptoms: I Don’t Know What’s Wrong
I DON’T KNOW What’s Wrong! Are you faced with a confusing number of reasons why your business is experiencing a particular problem/s? It can be a challenge to drill down and identify the ‘real’ problem and see solutions. With YOUR problem in mind, select the link below that best fits your problem. Note: Campaign, Skills […]
SM4.1 Eight Types of Waste
The well-known Toyota car company identified seven types of waste that had an impact on Productivity and Profit. An eighth has been added more recently. By gradually reducing these wastes, you can improve the Productivity and Profit of your business. In Japanese, this is referred to as reducing “muda” (pronounced Moo-da). This article discusses how these types of waste might show up in […]
How Dice Games Simulate Profit Generation
Throughout the 12Faces, we talk about several different workflow and inventory models and their respective merits. You can quickly gain an impression of how these models work in practice by playing a simulation game with a set of dice. This will demonstrate the relative strengths and weaknesses of the various models and their impact on your profit. Blue Belt