Common Management Techniques Improve Productivity in Manufacturing
An article in the Wall Street Journal discussed studies measuring productivity of common management techniques such as setting targets, monitoring performance and lean manufacturing and were able to quantify the revenue and cost improvements associated with them.
It is good to see measurement and analysis playing such an important role in manufacturing operations.
the study found US factories are better managed than other countries but the gap is shrinking.
SEER for manufacturing’s job is to help set targets (should cost) measure performance and quantify improvements. The ROI on this work can be huge. ”Globally, the study found that a one-point increase in a factory’s average rating (on the one-to-five scale) translated to a 25% increase in labor productivity and a 65% increase in return on invested capital”
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