“Not everything that can be counted counts. We are currently living in the digital age and are drowning in an ocean of data. Organizations have a large number of data entities and data elements, and a large volume of data corresponding to the same, and they continue to amass more and more data with each passing […]
The post Critical Data Elements and Data Quality | Rupa Mahanti | QualityDigest appeared first on Michel Baudin's Blog.
It’s hard for Master Black Belt Brian Mapani to contain himself when he introduces his company and how he found the ingredients for successful continuous improvement. It’s understandable too. They saved $35 million by making a $1 million investment into their Lean Six Sigma program.
I have spent as much time on lean product development as I have on any other area over the past 10 years. That’s largely because, for most companies, manufacturing products a little faster or cheaper is nothing compared to the overall business results delivered through a stronger product-development engine. I’ll
I normally love the public radio program “Marketplace” and have listened to it (on radio or as a podcast) for 15 years or so. But, I was very disappointed with this recent piece, which you can read here: “Just-in-time” manufacturing model challenged by COVID-19 Listen: Yes, many factories have been shut down in China, which […]
The post Covid-19: Don’t Blame Toyota or “Just in Time” for Your Risky Supply Chain Strategy appeared first on Lean Blog.
I left engineering & business school well versed in how to take care of two kinds of assets:
- Financial, and
Managing these kinds of capital is necessary, of course.
But in the world of Google, Apple, Amazon and Facebook, is it sufficient?
Clearly not. Nowadays, many extremely valuable companies. Have negligible physical assets.
What they do have is Intellectual Capital -- the sum total of all the knowledge, experience, capability, creativity and urgency of all team members.
How well do we manage Intellectual Capital?
The answer is obvious, is it not?
Do we harvest this splendid resource?
Do today's organizations grasp the catastrophic effect of thoughtless layoffs, excessive exec compensation, stifling bureaucracy and all other IC killers?
There are many kinds of wealth -- financial, physical, intellectual, relational, reputation, time and so on.
These are inter-convertible. For example, my daughter Eleanor has time wealth (& Dad's wallet...), which she is transforming into capability wealth.
When she graduates, God willing, she'll translate capability wealth into financial wealth.
But Intellectual Capital differs from financial & physical capital in that,
- It can be withheld, and
- It can walk away,
IC is controlled by our team members.
Treating them like dirt is akin to hitting yourself in the face with a two-by-four.
How many corporations understand this?
In case you missed our last few blogs... please feel free to have another look…
Value Stream Maps
What is a Key Thinker?
Macro Value Stream Kaizen – Zoology
Poka-Yoke – Preventing Inadvertent Errors
Virtual collaboration — and adjusting plans — is the theme for this week! It’s amazing the collaboration – and creation – that can happen when people work together, even if they are not physically co-located. This topic has been on my mind a lot this week as many companies are closing their offices to only […]