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Strategies for Effective Cost Reduction in Production Processes
This article explores the various components of production costs and the factors that lead to their escalation, such as inflation, technological advancements, and market shifts. It emphasizes the need for a problem-solving culture as a strategy for effective cost reduction and highlights hidden opportunities for cost reduction through process optimization. The article further provides a simple strategy for reducing production costs by categorizing operations and improving or eliminating them accordingly. Production costs Production cost refers to the total expenses incurred in making a product or providing a service, including materials, labor, and related costs. For a more detailed explanation of…
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Is ‘Innovation’ Just a Buzzword? Exploring the True Meaning and Value of Innovation
The word “Innovation” meets us everywhere: at work, bank, pharmacy, bank, post office, gym, playground… “Innovation” became a brand indicating the effectiveness and success of the company. Do we clearly understand what innovation is? This article discusses the essence of innovation and the difference between innovation and process/product change, improvement, or fixing. We also discuss and describe the innovation process using the PRIZ Innovation Platform. The Ambiguity of Innovation Definitions The internet provides an abundance of different definitions and explanations of innovation. This suggests that the concept of innovation is not trivial and requires further analysis and clarification. According to…
PRIZ Platform Takes Project Overviews to the Next Level with this New Feature
Have you ever found yourself skipping the creation of a detailed description of the failure and jumping right into solutioning? Don’t worry, we’ve been there too! We are thrilled to announce the release of a new feature on the PRIZ platform that is designed to enhance the quality and completeness of project overviews. With this new feature, engineers and project leads can receive a thorough review of their written background and also get guidance and suggestions for improvement. One of the main problems this feature solves is that many engineers tend to jump straight into solutions without investing enough effort…
Engineering Thinking or Guessing – How to Solve Engineering Problems?
This article discusses the importance of using engineering thinking to solve problems in an engineering environment instead of resorting to engineering guessing. It covers the dangers of engineering guessing and the benefits of using engineering thinking. The article also outlines a systematic approach to problem-solving using problem-solving tools and facilitation, such as the PRIZ Innovation platform. Proper documentation, defining the problem statement, identifying root causes, and understanding the process are all essential components of engineering thinking, which is the only way to generate fast and effective solutions. Types of Problems in a Production Environment A healthy and growing production can…