I previously wrote a blog titled 21 Production KPI Examples to Improve Manufacturing Performance, and many people were interested in learning more about how to measure and improve on-time delivery, one of the specific KPIs I mentioned. So, let’s dig a little deeper into this topic.
Rhythm Blog | Strategy Execution
by Patrick Thean and the Rhythm Team
Managing projects across multiple teams is really difficult. Isolated spreadsheets and email strings make it impossible for team members to follow and share updates. Traditional project management software is often too complicated, and everyone doesn’t always have access across teams because each team is using their own system. This leads to execution chaos. Multiple systems across teams, difficulty in communication and coordinating effort, slow/no information flow across teams, all resulting in late or failed projects.
Congratulations to Jeff Berstein, and the ImageFIRST Team! Calera Capital, a private equity firm, acquired a majority share of ImageFIRST, allowing Jeff and his team to successfully achieve their dreams. This unique win-win deal provides the following for key stakeholders:
Most of our successful mid-market clients have no shortage of great ideas. The constraint lies with the time and resources to get it all done. It doesn’t matter how many brilliant growth strategies your team comes up with in your annual planning session if there’s nobody with the capacity to get anything else done. Focusing on only a few top priorities is difficult but critical for your success. Tempting as it is, piling new initiatives on top of an already overloaded team will have numerous negative consequences for the individuals, team and company as a whole.
At our annual Rhythm Systems Breakthrough Conference in Charlotte this year, we had the opportunity to survey our audience of over 150 mid-market executives and ask the question, “What are the top 8 business challenges for mid-market companies?” The term “mid-market” refers to the size of a company based on its annual revenue, usually between $10 - $500 million. It may seem like a big swing to go from $10 million to $500 million, but not so big when you consider that only 3% of all companies ever make it past the $10 million mark.
It’s time to plan your fourth quarter and finish the year strong! One of the reasons plans fail is due to poorly defined goals and priorities. Most people think that they have finished their plan when they have had good discussions during quarterly planning sessions and come up with their top 5 priorities for the quarter. “Hey, we are all aligned and ready for the quarter!” Not so fast. You need to make sure that your goals and priorities are well defined and SMART (Specific, Measurable, Attainable, Realistic, Time bound).
How badly do you want to achieve your goals? Many people quit too early, at the first sign of distress or the first pangs of pain. Tesla has been single-mindedly focused on delivering a large number of Model 3 EVs (Electric Vehicles) in Q3. CEO Elon Musk stated that this would be the strongest delivery quarter ever! And it was.
Tesla entered Q3 swinging for the fences. Elon Musk said they went from production hell to delivery logistics hell. Their story is straight out of the book The Goal by Eliyahu Goldratt. The Goal talks about constraint based planning, the idea that your manufacturing production is really a flow, and that there will always be a bottleneck in your system. And when you solve that bottleneck or constraint, another bottleneck shows up in your system. Two quarters ago, Tesla was fighting hard to produce 5,000 cars a week. Their bottleneck was in manufacturing. Then after they solved it, the bottleneck moved to their ability to deliver cars.
By failing to prepare you are preparing to fail – Benjamin Franklin
It is that time of the year again: time to prepare for your quarterly planning session. A question that I get frequently is, “should we plan for a one-day or a two-day quarterly session, and what do most of your clients do?”
If you’re from southeastern USA, you know full well how delicious a hot Krispy Kreme doughnut can be. The anticipation of that sweet savory melting-in-your-mouth moment is something to look forward to.
Recently, while enjoying a long weekend in Boone, NC, my wife realized she had received a coupon from RetailMeNot, an online coupon company from Austin, TX. The coupon was for a free lemon-glazed Krispy Kreme doughnut. I was intrigued. I had never considered a lemon-glazed doughnut, but it sounded like it might be good. Besides, I might get lucky and find the “Hot Doughnuts” sign lit. So off we went. As we approached, “Eureka!” I thought to myself, the “hot doughnuts” sign was lit! This guarantees a great experience just like I remembered.