Adopting efficiency can make your job easier with better results
Continuing our series on business success is discussing the role of efficiency in improving a company’s performance. One of the best ways for a company to outperform its competitors is to be able to produce results in less time or with less waste.
An example that is still cited for improving efficiency and productivity is the assembly line used by Ford Motors over a century ago. While Ford often gets the credit, the concept predates their usage by automotive manufacturer Oldsmobile, though it was used in the shipbuilding industry before that. The general idea is that, rather than being produced by one group from start to finish, the production of a manufactured item is divided into multiple stages where specialists can focus on and optimize their segments. Similar results have been achieved using the same concept in many other industries such as housing, clothing, electronics, computers, and many other consumer goods.
So what lessons can smaller companies take from this? One way would be to streamline business processes. You would first document the full process, then analyze it. Are there any redundant steps that can be eliminated? Are there any steps that can be simplified? Do all the steps have to be done in order or can some be done ahead of time or at the same time as other processes are completing? If two people worked on it together, could they get it done in less than half the time as a single person?
A question all businesses need to ask is how technology can be used to improve efficiency. There are many examples we can see regularly. Look at the number of shops and restaurants that use a “Point Of Sale” system to keep track of sales while also recording all transactions. These also make it easier to transmit restaurant orders to the kitchen rather than making paper tickets. These are often combined with Inventory Management Systems to more quickly provide information about what is available and what must be ordered.
Even small companies can improve results and increase speed by implementing software to help with project management, business development, and collaboration within the company or with clients. And while there is no shortage of new solutions out there to create efficiencies, it’s very common that companies underutilize the solutions they already have. For example, Word and Excel have ways to automate repetitive tasks that can increase consistency and save time, but many users don’t even know how to use those features. Most companies don’t know the full capabilities of their software and often buy multiple tools that can do similar tasks. This is yet another way to become more efficient: making sure you don’t buy more software than you really need or really use.
There are a great many ways to improve your company’s efficiency in order to compete more effectively. While many managers have this capability, they often don’t have the knowledge of the options or the time to focus on these things. This is why it makes sense to bring in someone from outside the company to help identify opportunities to make improvements in the organization. Brightleaf Consulting Group has been working with businesses for over a decade to help them look more closely at their operations so they can grow more effectively and efficiently. If you’ve hit a plateau and can’t seem to figure out why you’re not growing, give us a call and let’s see how we can help.
- John Thrush