The primary goal of any lean initiative is to drive out waste. Have you considered whether or not you
The wrong planning process, one that’s not perfectly designed to match your company’s unique structure and needs, can cause waste in multiple ways. Here are a few to consider:
Chapter 5 in the book Predictable Results: How Successful Companies Tackle Growth Challenges and Win, shares the story of one company’s journey to discover a lean approach to planning that worked for them. Like all lean journeys, it required a mindset of continuous improvement where we began with a vision of what we wanted to accomplish and made adjustments every quarter. Today Flexfab, a global leader in high-performance silicone and advanced polymer products with operations on four continents supplying multiple industries (about as complicated an organization as you can imagine), continues to fine-tune their planning process to achieve great business results.
Here’s the five-step planning process that worked for Flexfab:
Do the necessary pre-work and involve the right people to understand what you’ve accomplished and learned over the past quarter, what adjustments you made and why, and what opportunities and threats you face in the upcoming quarter.
Begin your planning by reviewing elements of your core strategy and discussing how well you are progressing on your annual initiatives. What needs to be done next to achieve your annual goals?
Discuss where you need to be at the end of the quarter for it to be considered a success. Determine your measurable targets and set clear success criteria for each. What victories do you want to celebrate 13 weeks from now?
Create a quarterly execution plan to achieve your company’s top three to five priorities. What does success look like for each, who is the owner, and what are the steps to achieve success?
Involve the people who will do the work in creating their own execution plan - one that’s realistic and has the full buy-in of everybody involved.
Take an honest look at your quarterly planning process this quarter and consider whether or not you have room for improvement. Good luck on your journey and let us know if we can help.
Want to learn more about Quarterly Planning? Check out these additional quarterly planning resources:
Value of Outside Facilitation for Quarterly and Annual Planning
The Anatomy of a Great Quarterly Plan (Infographic)
10 Tips for a Successful Quarterly Planning Session (Video)
How to Choose the Right Priorities During Your Quarterly Planning Session
Tips to Help You Prepare to Facilitate Your Next One-Day Quarterly Planning Session
How Much Time Should I Allocate for My Quarterly Planning Session?
The Definitive Guide to Quarterly Planning
Rhythm Systems Quarterly Planning Resource Center
Photo Credit: iStock by Getty Images