Description
When making improvements to a process, cost savings and avoidance is a common outcome that is estimated and reported. A common error is to combine the data together into one overall number, but they should be separated into three distinct buckets of money: Income Statement, Cash Flow and Growth.
Links
Article: Client saved $800,000 in 3 Days
E2: What is the difference between hard and soft financial savings?
BIZ-PI.com
LeanSixSigmaDefinition.com
Creative Safety Supply
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In episode 101, I share an interview clip from John Barnett, former Boeing Quality Manager, as he discusses the culture of quality that might explain the recent airline issues. He was found dead while he was giving a deposition about his former company, but I don't go into those details. I wanted...
Published 03/27/24
In episode 100, I share a segment of a Lean Six Sigma Green Belt training course I conducted, where I went into details about the Fishbone Diagram and the 6 M's, and I thought you might find it useful.
When you are trying to uncover possible causes of a problem, using the 6 M's with a Fishbone...
Published 03/05/24