Proving Continuous Improvement With Profit Ability

The goal of this book is to demonstrate to manufacturing, distributor, and service businesses that there are only seven critical business elements from which continuous improvement projects can be discovered, financially evaluated, and ranked before implementation. They are: Increase sales by increasing the percent of market coverage. Reduce expenses by reducing the percent of labor and non-labor expenses per sales dollar. Reduce lead times to reduce work-in-process inventory investment. Reduce setup costs to minimize product and component inventory investment. Maximize capital asset utilization percent. Minimize asset investment for invoice payment by controlling the collection period within the contracted time period. Maximize employee knowledge worker utilization by empowering them with financial and practical training related to these seven business elements. The information is uniquely organized so it can serve as a frequent reminder for both the experienced and inexperienced of the few principles and financially-based formulas that must be built into company culture if both customers and stockholders are to be satisfied. Project teams are shown how to discover and financially evaluate and rank a vast number of continuous improvement projects.

Add value to services and increase revenue while giving your clients more of what they need Operational Profitability, Second Edition explains in complete detail how to conduct a management audit that will give clients the essential information they need in today's fiercely competitive marketplace. At the same time, it enables CPA firms and CEOs to expand their range of services, strengthen business relationships, and increase profits. This newly updated and revised Second Edition walks you through all the steps of a management audit and explains: The basic techniques of the management audit, what it involves, how to set it up, and how to establish a clear set of organizational goals How to rethink and rebuild an organization from the bottom up How to use a full range of analytical tools for identifying problem areas throughout the company How to assess the way a firm manages inventory, purchasing, production planning, and operations How to evaluate and reduce operating costs Praise for the First Edition of Operational Profitability... "A great operating manual for general managers and vice presidents . . . A complete how-to program." —William Hoban, CEO, Green Bay Drop Forge, Green Bay, Wisconsin "The most complete profitability program I've seen. The examples and checklists are excellent. It has saved my clients millions." —Chuck Wadowski, CEO, TMQ Consultants, Detroit, Michigan "[An] outstanding reference source for the modern manager; very impressive." —Arnold Bradburd, CEO, Interstate Steel Company, Philadelphia, Pennsylvania "[Operational Profitability] provides valuable data on operational efficiency and additional service opportunity beyond the usual audit . . . [It] provides the basis of helpful recommendations [and] provides much useful reading guidance for the performance of a management audit." —Alexander A. H. Bohtling, CPA, CPA Journal

The ASQ Certified Quality Improvement Associate (CQIA) certification introduces the basics of quality to organizations and individuals who are new to quality. This book, and the Body of Knowledge (BoK) it supports, form a foundation for applying proven quality principles and practices that are used around the world. This handbook follows the CQIA span in both content and sequence. Let it serve as your guide in preparing for the ASQ CQIA examination, and refer to it frequently as you learn and implement these ideas and tools in your organization.

ASQ’s Certified Quality Improvement Associate (CQIA) certification is designed to introduce the basics of quality to organizations and individuals not currently working within the field of quality. This book and the Body of Knowledge (BOK) it supports are intended to form a foundation for further study and application of proven quality principles and practices worldwide. The book follows the CQIA BoK in both content and sequence. The intent is that this book will serve as a guide to be used in preparation to take the CQIA examination given by ASQ. Each chapter stands alone, and the chapters may be read in any order. Some material reaching beyond the content of the BoK has been added. Supplemental reading suggestions are provided. An online, interactive sample exam and a paper-and-pencil sample can be found on the ASQ website (http://asq.org/cert/quality-improvement-associate/prepare).

Continuous Improvement- 30 Proven tools to drive Profitability, Quality and Operational Effectiveness in Manufacturing & Service Industry, is the fourth book of "Business Process Management Systems and Continuous Improvement Executive Guide Series." If you want new and effective ideas to improve your organization's efficiency, then this self-help business management book is for you. For Continuous Improvement efforts to be effective, meaningful, realistic and sustainable, it is important to use appropriate tools. Tools that will facilitate correct identification of business problems, provide required change metrics along with assisting strategic decision-making and cost-effective implementation. This book provides deep insights into 30 vital tools necessary to conduct successful Continuous Improvement campaigns. Who should read this book? This book is for Agile entrepreneurs, Startups, Leaders, QA (Quality Assurance) managers, Management consulting professionals, Production supervisors, Project leaders, Manufacturing heads, CEOs, Directors and Managers involved in decision-making, directing their organization's sustainability, profitability, and expansion. This book is also for professionals who are interested in making a career change and wish to embrace business process management (bpm) role. This book helps executives; professionals improve organizational performance in their role as a Management Consultant, Business Analyst, Continuous Improvement, or Process Management Expert. This book is also for graduate students in the process of stepping into the industrial world- be it manufacturing or a service industry. This book is not body of knowledge (BoK) for a certification exam. This book is not only meant for Business Management professionals and Process Architects & Analysts, but also for all business readers who wish to apply business improvement methodology tools in most effective, beneficial and practical ways.

This book fully details, as the title suggests, the real secret to maximizing an organization's profitability. While many companies have implemented improvement initiatives such as Six Sigma and Lean Manufacturing, there is a missing link which, when discovered and implemented, will take these same companies to profit levels not seen before. This missing link is the Theory of Constraints, and when it’s combined with Lean and Six Sigma, true transformational improvements are sure to follow. In this book, the author walks you through the step-by-step method on how to combine these three methodologies with the result being significant improvements to flow, major improvements in variation, substantial reductions in waste, superior on-time delivery, and ultimately, maximized profitability. He has been using this integrated methodology for many years and each time, the results realized were well beyond what the leadership teams had experienced previously. The genesis behind this combined improvement cycle is based upon many years of analysis of both failures and successes using Lean, Six Sigma, and the Theory of Constraints as stand-alone improvement initiatives. By integrating Lean, Six Sigma and the Theory of Constraints into a single improvement cycle, the author has developed a recipe that will maximize your return on investment, cash flow, and net profit. The Secret to Maximizing Profitability is both stimulating and thought provoking, but more importantly it will provide your organization with a roadmap for maximizing the use of your resources to achieve more bottom-line improvement than you ever imagined possible.

This book is a sequel to the business novel, The Secret to Maximizing Profitability – A Business Novel on How to Successfully Combine the Theory of Constraints, Lean, and Six Sigma to Drive Profit Margins to New Levels. In The New Beginning, Tom Mahanan, Tires for All’s former Director of Finance, who learned how to combine the Theory of Constraints with Lean and Six Sigma, and then applied it to Tires for All, strives to take his company to levels of profitability they had never experienced before. As a reward for his work, Tom was given a permanent seat on the Board of Directors, as long as he continued his improvement work at the remaining portfolio of companies owned by the Board of Directors. Tom performed extremely well, but one day he receives a life-changing phone call from his former mentor, Bob Nelson, the man who he had worked with at Tires for All to make amazing improvements. Bob asks him to play golf with him and two others, Jeff Johnson, from Toner International, and Pete Hallwell, the CFO at Maximo Health Center Complex. Pete and Tom share a golf cart during the round and begin chatting about the work Tom had done at Tires for All and the other portfolio of companies. Pete, who works for a healthcare complex of hospitals, is so impressed with the results Tom had achieved, that he invites him to lunch the following week. Tom accepts his offer of lunch and ultimately, Tom signs a consulting agreement with Pete. Tom had provided an example from a previous improvement effort where he worked with a hospital in Chicago to improve their Emergency Department time for STEMI-type heart attack patients. In his explanation, Tom presents a variety of improvement tools which includes the integration of the Theory of Constraints, Lean, and Six Sigma. Tom then meets with his current employer and specifically, the Chairman of the Board of Directors, Jonathan Briggs, to let him know that he will be resigning to form his own consulting firm. Jonathan then surprises Tom by offering him a consulting agreement to improve all of their portfolio companies. The remainder of the book is all about teaching companies how to combine the Theory of Constraints, Lean, and Six Sigma to obtain optimal results. In the final two chapters, a new problem surfaces, which is the Corona Virus. Essentially, this book teaches the reader how to successfully combine and implement the Theory of Constraints, Lean, and Six Sigma to produce results that many companies only dream of having. It covers a variety of different company types including manufacturing and healthcare.

Performance measurement is the mechanism by which firms informthemselves of their true performance and locate unnecessary coststhrough the supply chain. These can then be converted intosubstantially higher profits in a carefully targeted improvementprogramme. If the construction industry is to meet the performanceimprovements demanded by end users, and to replicate the efficiencyand profitability gains of other sectors, it urgently needs toaddress formal performance measurement. Aimed at all those at the sharp end in every sector of theconstruction industry, including clients and end users, this willbe a highly practical, easy to read guide, focusing strongly on theday-to-day needs of managers at all levels. Using the everydaybusiness language of construction firms, it explains how to set upand run performance measurement, self-assessment and benchmarkingsystems. It is comprehensive and informative with plenty ofreal-life examples and most importantly, tells you what to dodifferently on Monday.