3 articles with this tag
Value chain analysis examines every business activity to identify which add value and which create costs. Using Porters model, companies analyze primary activities like operations and marketing alongside support activities like HR and technology. This systematic approach helps businesses gain competitive advantage through cost reduction, differentiation, and elimination of wasteful processes.
Lean focuses on seven deadly wastes (overproduction, waiting, transport, motion, over-processing, inventory, defects) to improve workflow and reduce cycle time, while Six Sigma uses DMAIC methodology to achieve 3.4 defects per million opportunities. Companies like General Electric, Motorola, and Bank of America saved millions implementing these methods.
Building lean processes requires standardized, trackable workflows before optimization. Learn how to eliminate the 8 modern wastes, implement 1% daily improvements, and create continuous improvement cultures that actually stick in knowledge work environments.