Improving Productivity through Quality Enhancement and Cost Reduction
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Improving Productivity through Quality Enhancement and Cost Reduction Course
Introduction:
In today's competitive world, improving productivity is crucial for businesses. Understanding productivity is essential as organizations strive to excel in a highly competitive market. Regardless of the industry, it is crucial, especially in today's challenging economic climate, to focus on delivering superior quality through enhanced productivity and cost reduction by eliminating wasteful activities and failures.
While numerous theoretical approaches or processes have been implemented in many organizations, they do not always yield desired results. Simply "cost cutting" is no longer the solution for sustainable profitability. The key to success lies in finding innovative ways to prevent wasteful activities. Let's explore effective strategies together!
Course Objectives:
By the end of the Improving Productivity through Quality Enhancement and Cost Reduction Course you will be able to:
- Define productivity and various types of organizational waste
- Identify areas of poor productivity due to poor quality and suggest ways to increase effectiveness and efficiency
- Justify and apply quality improvement tools and techniques in order to improve productivity
- Apply several cost reduction strategies in order to meet changing global, statutory and market conditions
- Recognize and apply measuring initiatives and set targets in order to improve productivity
- Identify and apply quality improvement techniques in order to improve productivity.
- Understand how quality and productivity drive value for key stakeholders
- Define productivity and the various types of organizational waste
- Identify areas of poor productivity due to poor quality and suggest ways to increase effectiveness and efficiency
- Justify and apply quality improvement tools and techniques to improve productivity
- Apply several cost reduction strategies to meet changing global, statutory and market conditions
- Recognize and apply measuring initiatives and set targets to improve productivity
Who Should Attend?
Improving Productivity through Quality Enhancement and Cost Reduction Course is ideal for:
- Managers, supervisors and all those who are responsible for, or indirectly involved in, a cost or profit center or a quality improvement function.
Course Outlines:
Quality and Productivity and the Value Creation Process
- Defining organizational vision and purpose
- Creating and measuring value for key stakeholders
- How quality and productivity drive value for customers and shareholders
- Business improvement through a focus on value creation and waste reduction
- They key components of a winning business model
- Choosing the right tools to manage performance – balanced scorecard and dashboards
- Using an effective performance management framework
Principles of Effective Cost Management and Reduction
- Defining and classifying business expenditure
- Understanding business cost behavior
- Using cost-volume-profit analysis models
- Understanding gross margin and break-even
- An activity-based approach to understanding resource costs
- Effective profit improvement tactics
- Identifying areas of poor productivity and quality
- How quality and productivity problems affect profit and cash flow
A Quality Based Approach to Waste and Cost Reduction
- Lean – a focus on customer value and waste reduction
- Defining and identifying waste with value stream maps
- Understanding waste – “Muda” and the Eight Types of Waste
- Practical lessons from the Toyota Production System
- Using Six Sigma to eliminate quality variation
- Principles of Business Process Reengineering (BPR)
- Principles of Total Quality Management (TQM)
Practical Business Improvement Methods
- Waste reduction using the Toyota 5S approach
- Understanding the real DNA of Toyota’s success
- Kaizen – a philosophy of continuous improvement and problem solving
- Choosing the right Key Performance Measures (KPM’s)
- Practical problem-solving tools – Pareto analysis, Brainstorming and mind-mapping, Fishbone diagrams, and Using 5 Why’s for root cause analysis
Implementing Quality and Cost Reduction Initiatives
- A strategic approach to cost reduction
- Setting up a cost reduction program
- Goals and questions around productivity
- Streamlining the organization
- The psychology of resistance in humans
- 8 steps to overcoming the barriers to change
- Personal action plan