“Continuous improvement is better than delayed perfection.”
Business optimization is the process which will lead your organization towards continuous improvement, as it is the process of identifying and implementing new methods that make the business more efficient and cost effective. It usually refers to improving the various processes and
elements of a business. It involves procuring the services of a business consultant who analyzes the business, identifies process issues and recommends changes to optimize the operation.
Many organizations, especially manufacturers, have adopted various business optimization techniques such as Six Sigma, lean manufacturing, and the Toyota Way with great success which has resulted in an increase in their efficiency and effectiveness.
If not carefully managed, it often results in minimal gain and less than satisfactory results. Every business should be constantly seeking ways to improve efficiencies, reduce waste and optimize resources as part of their ongoing business practices.
Business optimization works best when driven internally and supported by decision support software that helps executives determine which of the many possible business optimization strategies offers the best return.
In order to understand the broader concept of Business Optimization, what better way than with some examples;
- Introducing new methods, practices and systems that reduce turnaround time
- Reducing costs while improving performance
- Automation of repetitive tasks
- Machine-learning techniques that improve equipment operation
- Increasing sales through enhancing customer satisfaction.
- Reducing all kinds of waste such as wasted time, scrap production and repeat work.