Improving Company Profitability in 5 Steps – Improving Efficiency

Dec 04, 2018 Improving Company Profitability in 5 Steps – Improving Efficiency

Step 5 – Improving Efficiency

Improving Efficiency

Are your production or service processes efficient?  Are they carried out at the lowest possible cost for the quality and timeliness you want?  The last part of that question is most important – for the quality and timeliness you want.  You are not going for the lowest possible cost but the lowest possible cost that meets your customers’ needs for quality, service and timeliness.

A good place to start is to consider how efficient your workflows are.  How many different flows do you have?  Are they documented?  Does everyone involved with these workflows fully understand them?  How many steps does each flow have?  Is every step necessary?  Why is a given step in the workflow?  Was that step put in to fix a problem that no longer needs fixing?

Consider if any of your processes can be automated.  Consider how a software system might be able to help.  I know this is complicated stuff.  You might even be too close to it to be objective.  If you are not sure how to proceed, gets some help.  Operating efficiently is one of the keys to profitability.

Bryan B Mason

Apollo Consulting Group, Providence, RI