Business Opportunities:
Small companies can’t afford not to run a tight ship. Even small costs or time drains can make the difference between staying afloat and sinking.
1. Errors. Making mistakes or having a defective product just means you have to repeat a process.
2. Overprocessing. This means doing something of no importance to the customer, such as having a half-dozen people review an application.
3. Overproducing. This is doing something before a customer wants it done.
4. Extra inventory. One company ordered photocopier paper in bulk, thinking it was getting a good deal. Then the business had to rent storage space because there wasn’t room for it all on site.
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