The 5 Principles of Lean Management – 31 Day Challenge / Day 28

Business Growth Naomi Mc Laughlan

I believe that Lean Management is a key aspect in the growth of any business in any given industry, as it allows you to produce products and offer services that are aligned with your customer’s wants and needs while increasing your profits by eliminating waste. Therefore, I have created a presentation; I would like to share with you today in the hope that it will help you to fulfil your business dreams in 2016.


 

Video Transcript:

Hello & Welcome

My name is Naomi Mc Laughlan and today I would like to share my view on the 5 Principles of Lean Management, which I believe can aid to increase your profits and grow your business.

Principle 1:

Specify what creates value for your customers and clients, by analysing what they find most valuable about each product or service you offer. Then use the information to establish a new concept.

Principle 2:

Identify steps along the process chain

Look at each step that needs to be fulfilled before, during and after a product can be sold to a customer or client.

Principle 3:

Make processes flow by eliminating waste

Check each step of your operations and business to avoid resources being wasted on unnecessary tasks or items.

Principle 4:

Respond to customer demands

Respond directly to your customer’s and client’s wants, to assure that you do not produce products or offer services that they do not want to buy.

Principle 5:

Strive for perfection by continual improvement

The past four principles are repeated until all areas are addressed accordingly, as being an ongoing process of providing a better service and products to customers and clients.

The 6 Areas to Address in Your Assessment:

  1. Transport and Motion (for example sourcing ingredients or products locally, or to reduce and lessen movement of stock)
  2. Inventory (for example by lowering stock levels, offering a limited number of products, and to produce just in time to eliminate the need for a warehouse)
  3. Waiting (for example by increasing the speed at tills through the introduction of new technologies and improved training of staff, and by multi-training your workforce)
  4. Overproduction (for example by keeping low stocks and emphasising on improved methods of forecasting)
  5. Over processing (for example by reducing unnecessary packaging and other materials)
  6. Defects (for example by double checking incoming stocks before signing them of from the wholesaler as ‘ok’, this will also reduce the amount spend on waste disposal)

I hope you have enjoyed this presentation. If so, please Like, Share and Comment. And don’t forget to follow my blog and channel.


 

Let me know what you think.

All the Best & Speak to you tomorrow,

Naomi xxx

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