Discover the Kanban system for just-in-time inventory control. Learn how Toyota pioneered this lean manufacturing approach, how it evolved from physical cards to electronic systems, and how it reduces costs while maintaining optimal stock levels.
Gartner reports 80% of future revenue comes from 20% of existing customers - yet most B2B companies allocate only 20% of marketing to retention. Customer onboarding encompasses the entire journey from prospect to loyal customer. Nielsen shows 92% of consumers base purchases on peer reviews, and McKinsey finds 50% of purchases are influenced by recommendations. Properly onboarded customers become vocal advocates.
Design thinking follows 6 distinct phases - Empathize, Define, Ideate, Prototype, Test, and Implement - to match user needs with feasible technology. Companies like Apple, Nike, and Coca-Cola use this methodology to solve real problems based on data rather than assumptions, minimizing innovation risk while leveraging collective team expertise.
Too many startups go under after riding hype to enormous investment without knowing what to do with all that money. Need capital from right investors, not just any investors. Venture capitalists can be tricky, so research their portfolios to ensure no competing investments. Be realistic - for every entrepreneur who aces their first pitch, far more are rejected time and again but still achieve greater things.
Cisco predicts almost 50 billion smart devices by 2020. IoT generates massive data from fitness trackers, smart meters, and connected devices, but only companies with automated measurement and analysis workflows turn this into product improvements. Amazon Echo orders and smart fridge purchases mean customers expect instant service and same-day delivery, requiring inventory tracking and fulfillment processes most mid-size companies don't have.
What is a fishbone diagram? Find out what it is, how to create a fishbone drawing - and how it can help you to trace and solve problems at their source.