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10 Things

1/31/2017

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The 10 things that can help your business today
 
ROI – Return On Investment - Ensure every project, proposal, and initiative submitted to you includes an in depth analysis of the return on your investment in the product this helps ensure projects are delivered on time, within budget, and allows you to develop more efficient processes.
 
Huddle Boards - Start the morning out right by engaging with employees and focusing on the process. Help by removing roadblocks and bottlenecks and determining where variation exists.
 
GEMBA Walks - Go out into the workplace and see where the work is happening. Engage with your employees and empower them to make improvements.
 
Operational Excellence - this is a philosophy of the workplace where problem-solving, teamwork, and leadership results in the ongoing improvement in an organization. The process involves focusing on the customers' needs, keeping the employees positive and empowered, and continually improving the current activities in the workplace.
 
Standard work - is used to identify defects, create assignments, and establish the discipline of daily follow through as a team.  The leader’s role is to coach employees in the first step of the PDSA-cycle to see and understand the problems through prior day (past 24 hours).
 
A3 - A3 story boards are used as a 1 page depiction of a process using Plan - Do – Study – Act to create consistency and further critical thinking.
 
Value stream mapping - is a lean-management method for analyzing the current state and designing a future state for the series of events that take a product or service
 
Voice of The Customer - The “voice of the customer” is a process used to capture the requirements and feedback from the customer (internal or external) to provide the customers with the best in class services and product quality.
 
Develop Lean Six Sigma Yellow, Green, and Black belt employees – these individuals can reduce waste and improve efficiency, productivity, and performance.
 
https://www.instituteforstrategicimprovement.com/store/c4/Certifications.html
 
 
KPI – Focus on your specific KPI’s – KPI’s are a set of quantifiable measures that a company uses to gauge its performance over time.
 
Check this at LinkedIn
The 75 KPIs Every Manager Needs To Know from LinkedIn
https://www.linkedin.com/pulse/20130905053105-64875646-the-75-kpis-every-manager-needs-to-know
To measure financial performance:
1. Net Profit
 
2. Net Profit Margin
 
3. Gross Profit Margin
 
4. Operating Profit Margin
 
5. EBITDA
 
6. Revenue Growth Rate
 
7. Total Shareholder Return (TSR)
 
8. Economic Value Added (EVA)
 
9. Return on Investment (ROI)
 
10. Return on Capital Employed (ROCE)
 
11. Return on Assets (ROA)
 
12. Return on Equity (ROE)
 
13. Debt-to-Equity (D/E) Ratio
 
14. Cash Conversion Cycle (CCC)
 
15. Working Capital Ratio
 
16. Operating Expense Ratio (OER)
 
17. CAPEX to Sales Ratio
 
18. Price Earnings Ratio (P/E Ratio)
 
To understand your customers:
 
19. Net Promoter Score (NPS)
 
20. Customer Retention Rate
 
21. Customer Satisfaction Index
 
22. Customer Profitability Score
 
23. Customer Lifetime Value
 
24. Customer Turnover Rate
 
25. Customer Engagement
 
26. Customer Complaints
 
To gauge your market and marketing efforts:
 
27. Market Growth Rate
 
28. Market Share
 
29. Brand Equity
 
30. Cost per Lead
 
31. Conversion Rate
 
32. Search Engine Rankings (by keyword) and click-through rate
 
33. Page Views and Bounce Rate
 
34. Customer Online Engagement Level
 
35. Online Share of Voice (OSOV)
 
36. Social Networking Footprint
 
37. Klout Score
 
To measure your operational performance:
 
38. Six Sigma Level
 
39. Capacity Utilisation Rate (CUR)
 
40. Process Waste Level
 
41. Order Fulfilment Cycle Time
 
42. Delivery In Full, On Time (DIFOT) Rate
 
43. Inventory Shrinkage Rate (ISR)
 
44. Project Schedule Variance (PSV)
 
45. Project Cost Variance (PCV)
 
46. Earned Value (EV) Metric
 
47. Innovation Pipeline Strength (IPS)
 
48. Return on Innovation Investment (ROI2)
 
49. Time to Market
 
50. First Pass Yield (FPY)
 
51. Rework Level
 
52. Quality Index
 
53. Overall Equipment Effectiveness (OEE)
 
54. Process or Machine Downtime Level
 
55. First Contact Resolution (FCR)
 
To understand your employees and their performance:
 
56. Human Capital Value Added (HCVA)
 
57. Revenue Per Employee
 
58. Employee Satisfaction Index
 
59. Employee Engagement Level
 
60. Staff Advocacy Score
 
61. Employee Churn Rate
 
62. Average Employee Tenure
 
63. Absenteeism Bradford Factor
 
64. 360-Degree Feedback Score
 
65. Salary Competitiveness Ratio (SCR)
 
66. Time to Hire
 
67. Training Return on Investment
 
To measure your environmental and social sustainability performance:
 
68. Carbon Footprint
 
69. Water Footprint
 
70. Energy Consumption
 
71. Saving Levels Due to Conservation and Improvement Efforts
 
72. Supply Chain Miles
 
73. Waste Reduction Rate
 
74. Waste Recycling Rate
 
75. Product Recycling Rate

 

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    Robert Kent Six Sigma Black Belt and improvement professional

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