The elements of a good performance-management system are simple, but integrating them into a business’s fundamental operating system is more difficult than it seems.
Content: Article | Authors: Frédéric Gascon, John Douglas, Raffaele Carpi | Source: McKinsey Quarterly | Subjects: Management, Operations
While IoT-enabled advanced analytics could be worth trillions to manufacturers, turning insights into outcomes requires more than just the right technology.
Content: Article | Authors: Mark Patel, Richard Kelly, Subu Narayanan | Source: McKinsey Quarterly | Subjects: IT / Technology / E-Business, Operations
Business needs to raise productivity more than ever. Thanks to innovations in digitization and analytics, four new methodologies can yield the productivity breakthroughs organizations need.
Content: Article | Authors: Kevin Speicher, Mercedes Goenaga, Philipp Radtke, Rafael Westinner | Source: McKinsey Quarterly | Subjects: Management, Operations
Attempts to diversify may make supply chain disruptions more damaging when they occur.
Content: Article | Author: Karan Girotra | Source: INSEAD Knowledge | Subject: Operations
For industrial manufacturers, resources remain a huge financial and managerial cost. A change in perspective can lead to real breakthroughs in reducing resource consumption.
Content: Article | Authors: Ken Somers, Markus Hammer | Source: McKinsey Quarterly | Subject: Operations
Flexible, adaptive supply chain management is an overlooked but vital component of a company’s overall innovation strategy.
Content: Article | Author: Matt Palmquist | Source: strategy+business | Subjects: Innovation, Operations
An ever-growing number of companies continue to discover that de-emphasizing ratings in favor of ongoing quality conversations that support employee development is showing itself to be a viable option. At the NeuroLeadership Institute, we’ve conducted in-depth research with 33 of these 52 companies to find out what really happens when companies remove performance ratings. Here are some of our high-level findings.
Content: Article | Author: David Rock | Source: Harvard Business Review | Subjects: Human Resources, Management, Operations
One oft-cited source of productivity is learning by doing, which is the ability of workers to raise productivity through experience. In fact, economists have credited the Horndal effect to learning by doing. The longer workers do the same type of job the better they get. The result is higher production without having to put in new machines or hire more workers.
Several studies have looked into … [ Read more ]
Content: Article | Source: Capital Ideas | Subjects: Economics, Operations
The context for make-or-buy decisions has become more dynamic, as manufacturers face dramatic swings in demand and the relative costs of sourcing locations. To maximize their resilience and value creation, leading manufacturers use a scenario-based approach to assess the implications of a broad array of sourcing decisions simultaneously.
Content: Article | Authors: Claudio Knizek, Daniel Küpper, Daniel Spindelndreier, Michael Zinser | Source: Boston Consulting Group (BCG) | Subjects: Management, Operations, Outsourcing / BPO, Strategy
The question was how many units of inventory a manager should order when faced with a possible disruption in supply. The correct answer is not guesswork, but based on 150 years of theory and practice. We examine individual choices made in this critical situation—and the results are not encouraging.
Content: Article | Authors: Geri Gibbons, Maria Ibanez, Mark Cotteleer | Source: Deloitte Review | Subject: Operations
You have a product idea and you want a manufacturer to produce it for you. But you’re on a limited budget so sourcing in China seems like a good idea. You know that China has many low-cost manufacturers. But how do you find the right one?
Content: Article | Author: Rieva Lesonsky | Source: OPEN Forum (American Express) | Subjects: International – China, Operations, Outsourcing / BPO
A wide-ranging study of best practices in quality management highlights the importance of human and cultural factors and shows how manufacturers can improve their performance—and gain the competitive edge enjoyed by quality leaders in an age of increasingly complex products and rising customer expectations.
Content: Article | Authors: Alexander Linder, Daniel Spindelndreier, Frank Lesmeister, Helmut Lieb, Robert Schmitt | Source: Boston Consulting Group (BCG) | Subject: Operations
Complex supply chains require sophisticated, connected tools to monitor risks, predict disruptions, and support rapid recovery as part of an overall resilience strategy. For leading companies, this line of thinking has led to an increase in adoption of advanced tools grounded in analytics and visualization.
Content: Article | Authors: Jerry O’Dwyer, Kelly Marchese | Source: Deloitte Review | Subjects: Operations, Risk Management
Companies have set aggressive targets to squeeze cost savings from procurement, but meeting those goals often requires a new approach.
Content: Article | Authors: Alexander Schmitz, Klaus Neuhaus, Tobias Umbeck | Source: Bain & Company | Subjects: Finance, Management, Operations
Business leaders who misjudge the location of production relative to the location of product and process development resources may adversely impact the company’s long-term competitive position. We explore the link between production location decisions, the nature of the capabilities required to create a product, and the ability of a company to develop the next-generation technologies it may seek.
Content: Article | Authors: David Uhryniak, Josh Timberlake, Mark Cotteleer | Source: Deloitte Review | Subject: Operations
Even with good systems, you still need good people.
Content: Article | Author: Zeynep Ton | Source: The Conference Board Review | Subjects: Customer Related, Human Resources, Management, Operations
A brilliant strategy will not produce its intended results if it is not translated into operational terms that define new ways of working. It is one thing to declare important strategic objectives. But to achieve these objectives, managers must link strategy to operations; that is, they must identify the specific work processes and actions needed to reach the strategic objectives the company has defined. Only … [ Read more ]
Content: Article | Author: Randall H. Russell | Source: Business Finance Magazine | Subjects: Management, Operations, Strategy
Lean Six Sigma brings rigor and discipline to project management, but its approach to project selection is lacking. A new approach incorporates a structured, enterprise-level view of metrics to jump-start corporate innovation.
Content: Article | Author: Forrest W. Breyfogle III | Source: Business Finance Magazine | Subjects: Innovation, Management, Operations, Project Management
Most companies are prolific producers of new products. This can be a good strategy for raising share and accessing new markets, but it can backfire if companies cannot determine which items actually make money. A product complexity management framework can help you determine what to make, what to jettison and how to increase product profitability.
Content: Article | Authors: Antal Kamps, Gustaf Sahlén, Johan Sjöström Bayer, Mikael Hilding, Robin Sparrefors | Source: Outlook Journal (Accenture) | Subjects: Marketing / Sales, Operations
When supply cost pressures increase, so does the opportunity to gain an important source of untapped margin. By taking a more comprehensive approach to what they buy and how they buy it, companies can free up cash and refocus resources to fund strategic priorities without the pain of layoffs. A comprehensive approach means deploying a broader set of tools to better negotiate prices or becoming … [ Read more ]
Content: Article | Authors: Clinton Anderson, David Fleisch, Greg Gerstenhaber, Sam Thakarar | Source: Bain & Company | Subject: Operations