Learn what areas to cover, for your specific industry, in your issue management planning. No matter what industry you are working in, you will have to plan for issues that arise. For example, if you are a project based business, measuring and monitoring your Accounts Receivable is crucial for cash flow. Also, the crucial area for wholesale, retail and manufacturing businesses is inventory. Add this to your issue management planning. Here, you will learn about the Theory of Constraints and the effect it has on your inventory. In addition, how to monitor inventory performance; the best products to stock and work in progress. An area to consider in all industries is waste.
27Nov
SM5.0 Theory of Constraint (TOC) Find Remove Bottleneck
The Theory of Constraints (TOC) is an important optimising technique that focuses on improving the throughput of work at the (usually) single bottleneck or constraint in the workflow. This Skills Module draws together a number of the 12Faces articles on the subject. One research project demonstrated that 89% of improvement...