Manufacturing leaders often struggle to pinpoint the source and breadth of the waste in their organizations. Even when they are able to identify and quantify the hidden costs of inaction (“the status quo”), the process of implementing change can often be a mammoth task. In order to remain competitive and not waste money, manufacturing leaders must overcome their biggest competitor—“DOING NOTHING” and look to re-examine how every part of a business can offer value for less, including identifying the many hidden and not-so-hidden costs.
Read this information brief and learn what manufacturing leaders need to know about realizing lost dollars in their organizations, including:
- How to identify hidden costs in areas such as purchasing, inventory management, and sales fulfillment
- The benefits of reducing hidden costs in key areas of the business
- How to address the hidden costs in thebusinesses by building a framework for business process improvement