The 8 Wastes of Lean : TIMWOODS | | Eliminate Waste & Boost Efficiency in Your Business!
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The 8 Wastes of Lean : TIMWOODS
Being a Lean operations practitioner means honing your skills to "see" waste in every process and organization.
Even in the most refined and optimized organizations, waste and opportunity are everywhere.
TIM WOODS is a popular "Lean" waste acronym to remind us of the variety of wastes that exist far beyond the physical and visually obvious.
Whist identifying and eliminating waste is a noble objective. It is easy to get excited and carried away by identifying and tackling every waste you see.
Identifying waste is an essential skill but before dedicating effort and resources to reducing it, there must be a rigorous structure for evaluating the benefit and likely cost and effort of tacking it so that only the most valuable, strategically important and cost-beneficial improvement ideas get allocated implementation resources.
T = Time
I = Inventory
M = Motion
W= Waiting
O = Over-processing
O = Over-production
D = Defects
S = Skills
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