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Embed code for: What is the Value of Time In Your Organization?
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How to determine & calculate if your operation is too expensive. Identifying if the benefits of your current system outweigh the costs.
PS SOLUTIONS G, LLC Business Process Engineering WHAT’S THE VALUE OF TIME IN YOUR ORGANIZATION? How can you determine and calculate if your operation is too expensive? Are you utilizing the most effective and efficient job types to go to market? Do the benefits of your current system outweigh the costs? Is there a more efficient and effective system? How do you execute your daily processes not only to reduce costs, but also to reap all potential benefits? THE FACTS: LABOR EXPENSE Labor Expense is typically responsible for 60% of Total Operating Costs. It’s the largest individual cost in manufacturing, distribution, retail, and service operations. It’s also a major opportunity for cost savings… if you know where to look. PRODUCTIVITY Production levels of high performing employees can more than double that of low performing employees. Low Performance impacts company profit, as well as employee work-life balance and satisfaction. Performance variation can be reduced—a win-win for both sides. ROOT CAUSE ANALYSIS System data can tell you how much time you spend on average, but doesn’t tell you why. Knowing where and how time is spent is important. This allows leadership to identify drivers of inefficiency in processes. PROCESSES: VALUE & WASTE Process steps can be bucketed into three (3) categories: Value Added: Essential steps. Required to change the product or service, and defined as needed by the customer. Non-Value Added: Non-Essential steps. Not required to provide the product or service to meet the customer’s needs. Value Enabling: Adds no value to the customer, but still needs to be done. Value Added activities only make up about 1-5% of the total time spent on most processes. WORK MEASUREMENT Observation & Analysis identifies Value & Waste in current processes. Results allow you to make data driven decisions. YOUR RESULTS: Following our blueprint for success, provides you with tar- geted solutions, and the path to achieve business objec- tives: 10-30% increased Productivity 20-50% increased Labor Performance 2-3 months to begin capturing savings Less than 12 months typically to deliver ROI Business results deliver you a win-win scenario: $0 NET Cost for our services (due to your savings). Results provide funding for Business Investments. OUR PROCESS: Our team of experts specialize in identifying, analyzing, and improving existing processes. STUDY SET-UP Identify elemental tasks & cycle headers Develop template DATA COLLECTION Observe & capture data Assess standardization & process variance ANALYSIS Identify optimal method by activity type Develop time standards by activity type Establish average performance by job type 100 International Drive, 23rd Floor, Baltimore, MD 21202 firstname.lastname@example.org | www.ps-solutionsgroup.com | 410-238-7774