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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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How to Facilitate Engineering Thinking: Three Key Points to Consider
Engineering work is built on three essential pillars: process improvement, cost reduction, and root cause analysis. Engineers should dedicate their thinking to a specific and measurable target, use thinking tools and resources, and recognize and value engineering thinking. The PRIZ Innovation Platform offers tools for engineering thinking, including Process Functional Modeling, 40 Inventive Principles, and Effective Brainstorming. Engineers should focus on improving only those operations that increase the value of the product, remove all operations that do not increase the value of the product, and understand the origin of defects and eliminate them. What does an engineer do? What does…
Process Improvement with Six Sigma
Six Sigma is a popular approach for improving manufacturing quality, but small and medium-sized businesses often struggle to implement it due to a lack of resources. PRIZ Guru offers analytical and problem-solving tools to assist engineers at any step of the Six Sigma DMAIC process, including defining problems, collecting and documenting data, analyzing processes and systems, generating innovative solutions, making decisions, and effectively managing these projects. The Six Sigma process involves continuous problem-solving, and the PRIZ Innovation Platform is a comprehensive system designed to enable engineers to operate as professional problem solvers. SMB’s are Struggling to Implement Six Sigma Continuous…
How to Improve Your Processes for Maximum Efficiency
Process improvement is crucial for organizational success. It helps organizations to stay competitive, reduce costs, improve quality and efficiency, become more responsive to changing market conditions, and encourage innovation. There are several process improvement methodologies available, each with its own set of tools and techniques. However, these tools rely heavily on people’s creativity and analytical skills, which can be a trial-and-error process for teams. PRIZ Guru offers analytical and problem-solving tools to assist engineers at any step of the process improvement undertaking, equipping teams to overcome barriers during this initiative. What is process? As usual, we will start with an…