It is our natural tendency to weigh cost against value. But how do we know if we are using the right unit of measure (UOM) in doing so, and how do we measure this value? The standard approach is that we translate all different aspects of the functional equation to...
Most organizations tend to bring back inefficiency over time, primarily by driving out costs. The main area of focus here is bringing down the piece price of components. Another strategy, easily overlooked, would be limiting the number of different components in a...
Producing less waste is good for the environment, we all know that. At home we may express environmentally friendly behavior by putting a “no-no sticker” on our door, or taking a shopping bag to the store. But how can industries reduce packaging and transport...
“You can have brilliant ideas, but if you can’t get them across, your ideas won’t get you anywhere.” This famous quote was given by Lee Iacocca, one of the icons within the global automotive industry. With this quote, he addressed one of the...
Over a century ago we saw the start of the victory march of mass production. Henri Ford uttered famous words about his cars that became the embodiment of this era and that unleashed a revolution that brought consumer goods within reach of Joe Public: “You can have it...
