Group items tagged

Ten Tips to Help You with Your Kaizen Continuous Improvement Strategy The Kaizen methodology encourages ongoing efforts to ensure continuous improvement throughout a facility. This improvement can come in many forms including waste elimination, improved efficiency, safer work environments and much more. To simply say that a facility is employing Kaizen strategies, is essentially meaningless if you don't have any concrete action items you are following. Whether you're just getting started or you are looking for ways to reinvigorate a Kaizen strategy that is not effective, the following ten tips will be very helpful. Each one can give you ideas on what you can do encourage improvement and allow that improvement to grow and expand long into the future. Tip #1 - Harness the PDCA Strategy One of the key concepts used in Kaizen is the "Plan-Do-Check-Act" strategy. This is a quality model that can be used when implementing any type of improvement in the facility. As you might expect, the PDCA strategy is a cycle of ongoing improvement that should never end. The steps are as follows: Plan - This step is where you identify an area where improvement is possible and make an initial strategy on what chance should be made to realize the desired improvements. Do - Implement the change, but only on a small scale. This may mean having one department make the change in some situations or for larger corporations, having one facility make the update. During this step it is also very important to be gathering as much data regarding the change so it can be properly evaluated. Check - Review the results of the change including the data that was collected. Looking to see if they had the desired impact or not is critical to know whether you should move forward with rolling the change out to other areas. Act - IF the data in the check step points to a success, it is time to push the change out on a wider scale. Once the change has been successfully implemented you wi

Much has and needs to be said about an enterprise's AI strategy. Artificial Intelligence or AI is considered a fundamentally disruptive technology similar to the steam engine, electricity etc, a technology that will be pervasive and absolute in its impact on the world and its inhabitants. The ability to find hidden patterns to predict the future or detect a behavior has massive implications across the world, in every industry, sector, and domain. When faced with this realization, enterprise's can find themselves stuck, paralyzed and unsure about how to proceed. The field of AI is decades old already and the early success stories have been practicing AI for multiple years already with the tech industry leading the way. How can an enterprise that has no experience and competency in this area let alone lead the technology or even leverage it appropriately to drive business value? When developing the AI strategy, two ideas are paramount. First, this a fundamentally disruptive technology and the enterprise will need to establish it as a core competency for the foreseeable future. Not doing so will not be an option. Second, a long-term plan to success is superseded by the need to drive quick wins and small successes not only to build confidence but use real-world experience to develop and hone that skill. The Short-Term AI Strategy The short-term AI strategy should focus on driving immediate business value through enhanced customer experiences that leverage any field of AI be it machine learning, deep learning, natural language processing etc. Driving the usage and deployment of AI in front of an end user making them smarter, productive and better informed can pay rich dividends by not only helping the enterprise can real-world experience, but it can also give a perception boost to the company as being innovative and cutting edge. However, most importantly, this can highlight and promote the success and potential of AI in the enterprise and encourage a snowball eff

Enterprises across the board have a lot of untapped potential in their data. The data is not only relevant and useful within the enterprise but can be a valuable source of insights for the enterprise partners and customers. In some cases, the value of this data can be high that partners and customers are willing to pay extra to get access to this information at a certain fidelity, freshness or scope. Enterprises that do not have a clear and coherent monetization strategy are leaving money on the table. In addition, they stand to lose customers to competitors who gain the first movers advantage by addressing this market need. The Value of Data The first step in determining a monetization strategy is an audit of the enterprise data assets and a determination of the customers who are interesting and willing to pay a premium for access to this data. The Value of Data is proportional to the following: Freshness The more "fresh" a dataset is higher its value typically. This is because there is an advantage in the early visibility provided by first access to new information. 'Freshness' is defined the latency between the creation of data and the delivery of the data to the consumer. Consumers of data will pay a premium for fresh data if it fits into their decision and action strategy. Fidelity Higher the "fidelity" of data i.e. how much detail a particular data point carries also increases the value of the data in the eyes of the data consumer. Higher fidelity data offers more information and detail enabling the consumer to design highly valuable analysis that leverages the additional details offering a deeper insight into the situation at the present or historically. Raw The more "raw" a data set, higher its value as it can support a much larger set of analysis scenarios that a processed data set could support. Data sets that are aggregated, sampled, filtered or transformed can have a lower value as they can severely limit the type of analysis. Raw

Sentiment, Sentiment Analysis, Sentiment Tracking have become a hot topic with multiple 'AI' startups focussing on providing sentiment driven insights to enterprises. The number of such startups points to the potential that enterprises see in Sentiment analysis and the impact it has on how the enterprise plans, operates, executes and delivers value. Sentiment Analysis is process of extracting sentiment (emotion or feelings) captured in signals that are embedded in various types of media such as print, text, audio, video, images etc. For example, if a reporter submits a report on a particular enterprise, the sentiment embedded in the article can point to how excited, worried, upbeat or impassive they might are about the enterprise. This sentiment can be then used by the enterprise to understand the perception about the enterprise that the external market carries and whether that perception is improving, degrading or staying unchanged. This insight can be used by the enterprise to improve their go to market plans, change their PR strategy or even go deeper and change their product strategy. Sentiment Analysis Is Not New The tracking, measurement and use of Sentiment is not a new scenario. Enterprises have been leveraging the output of sentiment analysis for a long time. User surveys, focus groups, market research, customer interviews etc. are all examples of generating data to perform and track sentiment. Similarly, influencer marketing through association with influencers or events or organizations with a certain perception or sentiment associated with them is a common technique to improve the enterprise's own sentiment. Sentiment Analysis and strategizing based on the analysis is a common and required function for any enterprise. Sentiment Analysis Using Artificial Intelligence With the advent of Artificial Intelligence (AI), enterprises now have another technique in their kitty to understand how they are perceived in the market and how that perception i

Digital Transformation is tough, even for seasoned technologists. This is because it is a transformation of an organization at its core. Everything from culture, technology, ideation, development, integration, delivery, and support needs to fundamentally shift to be more customer-centric, service driven, automation first and experimental in nature. No wonder that a lot of organizations take a long time and a lot of investment to see ROI from their digital transformations. Here are 5 signs that your digital transformation might be in trouble. Culture mistrusts the core digital transformation team You are spawning new initiatives before completing previous ones Decisions are top down with low accountability at the leaf nodes You tend to focus on technology stacks with little focus on customer value Inter-organization politics stifles cross-organization scenarios Culture mistrusts the core digital transformation team It is almost impossible to make an entire organization aware and participate in digital transformation at the same time. There are exceptions but in our experience, starting out with a core digital transformation team is a much better strategy than otherwise. This team should be enabled to attack a limited set of important and business relevant problems, build cutting-edge solutions and use them as examples to train and evangelize digital transformation strategies to the rest of the organization. However, the more entrenched an organization in the old way of doing things, the harder they might this central team. Resistance can be active and passive such as refusal to share data or provide the relevant context of the problem. An organization that does not set up the early crusaders for success almost always has a much harder time showing value from their digital transformation activities. You are spawning new initiatives before completing previous ones Executing on a digital transformation strategy is much harder than defining the strategy especially fo

Digital Content Strategy? This phrase is ubiquitous if you're from the marketing domain. Content alone can not do anything; it's not derived from marketing strategies. When we talk about Content, there come a lot of content strategies like social media content pillars that hold a vital role in creating optimized Content for the posts.

Lean has been helping companies streamline their production, eliminate waste, and generally improve the way things are done for many years. Initially, the concepts behind lean were primarily used only in companies and facilities that were directly involved with physical product creation, such as manufacturing plants, factory floors and things of this nature. However, over time the lean methodologies have been adapted and implemented in almost every other type of business, ranging from health care to information technology, and many more. When done properly, lean can help improve virtually any work environment to help eliminate waste, improve communication, and to help ensure that the products or services being developed are indeed something customers will be interested in. For instance, when working in an information technology environment, it is important to be able to understand how lean strategies can be implemented, and why they are so important. The following are some of the most significant reasons why lean IT strategies should be taken seriously by any company that uses technology in their business (which is almost all of them!). Lean Promotes Ownership One of the things about lean strategies in an IT environment is that virtually every task completed is owned by an individual. Even if a person does not do all the work for a particular project, he or she will be directly responsible for overseeing it. This creates a sense of ownership, which can help in a variety of ways. It will give other teams a single point of contact for obtaining updates, providing feedback, or requesting changes. This will also allow the owner of a specific project to drive the progress directly, rather than having to rely on large committees or other types of groups to receive pertinent information. It is important to note that just because one person owns a process or project does not mean that he or she can simply dictate things to other groups. Instead, that person is there to

When most people think of LEAN, they think of manufacturing, and it is no surprise why. A recent post by Mark Bridges in the "Lean Six Sigma and Continuous Improvement Group" on LinkedIn, brings up the idea of using Lean strategies in an office environment. His post looked specifically at how the office side of a manufacturing company can benefit from Lean concepts. His ideas, however, can be applied to any office environment. Taking active steps to eliminate waste can save companies money whether it is eliminating excessive inventory made by a manufacturing line, or eliminating the need for excessive drive space on an email server due to unrestricted storage policies. Northcote Parkinson's Theorem One of the most interesting parts of his post discussed what is called the Northcote Parkinson's Theorem. This theorem states that, "…Over and above a certain size, an office style organization can generate enough work to busy itself with!" This is a simple way of saying that while office work may be necessary, it can easily become a bottomless pit of inefficiency. One can't help but recall the scene from the movie, "Office Space" where the manager drones on and on about the importance of "TPS Reports." This scene is so memorable to many people who work in office environments because it is so relatable. So, how can lean help to eliminate 'TPS Reports' and other forms of inefficiency in the office environment? The post and the comments people made agree that Lean manufacturing strategies can be used in office environments with minimal adjustment. This is a perfect example of waste in the office, and how Lean strategies can help to avoid them. Office environments print off reports, spreadsheets, emails, and any number of other things. Many employees have the idea that as long as they recycle the paper when done, it isn't wasteful. While recycling may be better for the environment, it really doesn't help the company's bottom line. In

One of the top reasons for digital innovation and transformation failures can be summarized as the enterprise trying to reinvent the wheel. This is the tendency of the enterprise to attempt to create technology, platforms, and applications that have already been implemented, scaled, optimized and almost perfected. This tendency almost always ends up a failed one as it does not create any net new value for the enterprise but comes with a massive opportunity cost as the enterprise spends crucial resources on reinventing the wheel than innovating for the customer. How The Wheel Is Reinvented Nontechnology enterprises can get trapped in a reinvent state where they conclude that homegrown technology is the only path towards customer and business value. This in itself is not entirely false however the type of enterprise and their decision-making process along with the capabilities they have in house have a very large impact on the success of the strategy.eRaaadada Reinventing the wheel happens when a non-tech enterprise discovers a technology trend towards much later in the hype cycle almost towards the end when the technology is hitting the mass market and decides to recreate or reinvent its own version of the technology. This is often done with the assumption that with some investment, the enterprise can have a home grown version of technology or platform that is designed specifically for its needs and is thus a better fit. However, enterprises assume that the state of the technology will remain constant and while they are attempting to home grow a version that can match the current state of the art. In reality, the state of the art shifts and the enterprise is not able to bridge the gap. Who Reinvents The Wheel Typically, technology teams often decide to go down the path of reinvention when they are allowed to make technology upgrade or technology creation decisions without business KPIs and cost constraints i.e. clear success criteria with fixed cost and clear ti

One of the most common misconceptions out there is the belief that technology equates innovation. Innovation is the creation of new value through a better solution for a problem that either does a better job in solving the problem or does so in a manner that the solution is accessible in a larger set of circumstances by a larger number of people. On the other hand, technology is simply the tooling that holds the promise of new solutions but by itself, is meaningless. Enterprises can become enamored by the promise and hype about technology and go down long, complex journeys, invest millions in upgrading technology and still come out empty on the other side because they built technology for technology's sake. Even in well intention boards and C-suite, industry peer pressure and hype around technologies can force action that ultimately leads to massive investments in people, software, technology, and vendors but does not yield the ROI promised by the technology. Leadership The problem can be accentuated when not enough due diligence is done on the applicability of the technology to the enterprise given the current state i.e. the point in time when the technology is being introduced, the customer's propensity to accept the technology-driven solution i.e. are the users ready to embrace, adopt, learn and utilize new solutions and burning problems that necessitate the adoption of new technology to better solve the problem. When the timing of new technology introduction is gotten wrong, it almost always fails to deliver on its promised ROI. Leaders need to rise above the hype and peer pressure and ensure that they understand, first and foremost, the burning problems that plague their customers or make the bedrock of their future strategy. Next, leaders need to ensure and validate that the technology in mind can actually be used to solve the problem through rapid prototyping and minimal investment. Once customer feedback on the prototype has been validated, then only

One of the key milestones on the Digital Journey starting with a Digital Strategy, Digital Transformation and then sustaining on Digital Innovation is the point where the enterprise reaches a point of data maturity powered by a single, organization wide, consistent version of the truth including the state of the customers and the state of the business and the state of the employees. This point is critical as it becomes the launchpad for several, forward looking initiatives including Artificial Intelligence, ChatBots, Blockchain etc. "Complete" A Complete version of the truth ensures that the following criteria is met: Entity Pivot The key entities that need to be tracked to generate a complete, comprehensive version of the truth are the following Employee Employees, regardless of customer facing or not, need to be understood including where they excel vs. struggle and where their struggle impact the customer experience. Key information about employees that should be tracked is what the employees are working on, how productive they are and how often they introduce delay and errors in business processes. Business Business visibility requires that the enterprise be able to track key metrics such as customer lifetime value, customer attribution, customer acquisition cost and customer satisfaction. In addition, the stage of the customer ranging from prospect to commit to paying customer to abandoned needs to be tracked. In addition, the customer's quality of service and experience needs to be tracked and understood. Customer The most critical of the three is the understanding of the customer. Customer KPIs have a direct impact on and are completely impacted by the Business and Employee KPIs. It is extremely important to understand how customers are searching for, discovering, learning, understanding, using and continuing to use the product and services delivered by the enterprise. In addition, it is important to understand what capabilities drive what kin

According to the Insurance Information Institute, 40% of businesses affected by a natural or human-caused disaster never reopen. When disaster strikes, consumers can only wait so long before moving on to another supplier or service provider if you are not able to get operational in time. Insurance might help to recover some of your loses, but it will do little to replace your customers. More importantly, the safety and well-being of your employees as they cope with disaster is a hefty task in itself to take on. In light of recent events, many organizations are left wondering, are they ready and prepared when disaster strikes? So just what does it mean to be ready? Investing in a preparedness program can make all the difference in the world when disaster strikes and promote an internal belief that your company is ready for disaster when it strikes. This policy should reflect the mission and values of your organization that can be implemented seamlessly throughout the company. Focal points of your preparedness program should detail specific goals including: The overall safety and protection of your employees, visitors, and any other persons that may be at your facility when a disaster occurs. Don't forget to account for persons with disabilities and special needs. Keeping customer service operations functional Protection of assets, both in the physical and electronic form Environmental protection and contamination prevention Companies image and reputation Having a team to help continue the improvement and implementation of your program is vital to its success when needed. Your team should meet regularly to continue the development and focus of the program. Each individual will have their own role and responsibilities when disaster strikes, a proper preparedness program will identify these, insuring an accountable team to help in the recovery process. How do you know what to plan for? It's impossible to predict what the next disaster will be, but accounting f

Lean Management - A Guide To Starting Out Right Much like anything over-used and spread before those singing praises have done a lot of research, Lean is a concept that sometimes, despite the best of intentions, misses its mark. Lean principles aren't particularly tricky, but with many offshoots and brands of the ideology, it can be easy for new Lean managers to get caught up in misinformation. At its core, lean is about eliminating all kinds of waste from your business. It sounds simple enough, but one of the biggest problems for many newbies is changing your concept of just what "waste" is. Once you've got a grasp on that, you need to move onto individual strategies that can help you eliminate that waste. In this article, we're going to go over how to accomplish both of these tasks as a manager who may be new to Lean by exploring unique facets of this management type and how they interact with elements of your business. One of the largest differences between Lean management and traditional styles of management is that in a traditional methodology your primary (and nearly sole) concern is the end of the line result. While Lean is of course concerned with achieving superior end results, its focus is on the processes that get you there. In this sense, what you learn and practice as a Lean manager is more about making individual pieces work together efficiently than having a tunnel-vision focus on numbers and figures at the end of the cycle. The Relationship Between Lean management, Waste Elimination, and Continual Improvement "If someone tells you that "lean management is this" and not something else, if someone puts it in a box and ties a bow around it and presents it in a neat package with four walls around it, then that someone knows not of what they speak. Why? Because it is in motion and not a framed picture hanging on the wall. It is a melody, a rhythm, and not a single note." - Lawrence M. Miller, Management Meditations While perhap

Digital Transformation has become a necessity for enterprises in every vertical, sector and industry. Software is indeed eating the world and there is no industry that cannot ignore the burning necessity of transforming to a software driven organization. However, the road to digital transformation is long, unpaved and full of dangers. It is a road that most enterprises that are embarking on it have never encountered. These organizations realize that their ultimate survival depends on navigating this road but are hesitant, unsure and scared because this transformation requires competencies, culture and an approach that is alien and unknown. Though, traditional IT departments have always been part of such organizations, they have always been looked upon as plumbing that ultimately is only relevant in the background to keep the lights on. Faced with impending doom, organizations have no choice but to rethink their IT. This is not simply an initiative in the IT team. CEOs and CFOs need to rethink what and how software can and will disrupt their companies. Business and IT need to come together to have a joint software driven experience strategy and needs to be prioritized by the CEO and funded, for the long term by the CFO. Do you need to think about a Digital Transformation strategy? If you answer YES to any of the questions below, you should. Are your teams, data, and systems fragmented? Are your key processes fragmented, manual? (for example, Onboarding, Decision Making, Incident Management, Support) Is your data of low-quality data (customer profile, transactions, glossary, documents) Is your regulatory compliance inconsistent and more a matter of luck than planning? Could your customer relationship, lifecycle, performance management be better? Could the information flow in your organization be matured? Do you have a weak understanding of internal and external events and how they impact your business?

The cutting edge platforms for today will be the commoditized platforms of tomorrow. As the technology matures and evolves, the previous generation of technology becomes easier to build and deploy enabling a rush of vendors to capitalize on it by making it accessible to the largest possible customer base. This puts enterprises in the nontechnology sectors in an awkward position. Often not ready to consume the latest and greatest technology due to parts of their stack unable to leverage new technology and requiring upgrade to and deployment of the stepping stone technology, these enterprises have to choose between vendor lock-in in a multi-year software and service contract or risk building and implementing a version of the older technology in-house. Business Drivers of Infrastructure-as-a-Service The biggest risk in building technology platforms in-house is the risk of commoditization. The argument played out with the debate over internal vs. public clouds. Initially, enterprises were hesitant to leverage public clouds with several of them opting to build internal, private clouds. Building a cloud is hard. Operating and maintaining a cloud is even harder. Ensuring that the cloud is running on and leveraging the best in class technology requires dedication to the cause. This is often missing in non-technology enterprises by design given they are driven by different and separate business drivers and considerations. A cloud service provider is motivated to ensure the best in class service and technology because that drives revenue for them. An enterprise whose main business is not offering cloud or software services will not be motivated by the same drivers and thus there will be an inherent difference in their approach and success with building and delivering an internal cloud. Business Drivers for Platform-as-a-Service The same argument (public vs private clouds) applies to platforms. Building the best in class platforms that offer the ability to develop cuttin

Growing a startup is not so easy. First, you need a viable idea to get your boat sailing. Read the complete blog to learn the 8 secrets of marketing strategy.

Best 6 Tips & Practices, Successful cloud migration strategy

Are you AI-First? By editor Posted October 13, 2018 In Artificial Intelligence, Digital Strategy, Technology & Design 0 An AI-First company is an enterprise that has transformed to believe and understand the incredible and disruptive potential of Artificial Intelligence. Such an enterprise not only sees the value but can see the destructive impact of being left behind. An AI-First Company understands that it might not know all the answers but realizes that it needs to seek out a path forward with AI or risk being marginalized. Key Characteristics of an AI-First Company A-First companies might not be any different from their previous form but think and act differently. Here are some key characteristics of such companies. Approach to Problems and Planning An AI-First company evolves its approach to problems. AI-First companies realize that determining the existence of a problem and selecting the most consequential problems is a function of data and analytics. An AI-First company invests in building predictive mechanisms that can signal current or upcoming problems including the severity and priority of these problems. Building these predictive mechanisms becomes the first step in determining how and when to prepare for problems or upcoming issues. In addition, these companies leverage news and information that is generated inside and outside the enterprise as it is generated and ensure that their employees and customers have access to the insights embedded in the news and information. Approach to Products and Product Development An AI-First company understands how a prediction or classification could help them deliver a better solution to a problem faced by their customers and how their existing products can be adapted or new products created that change behavior based on the predictions and classifications. Enterprises that understand the power of AI ensure that data scientists come part of the core product ideation and development team with a heavy infl

A lot has been said about agility and the need for enterprises looking to innovate and disrupt to build agility. Agility, at the same time, also gets confused with the process of scrum. Small and large teams get enamored with the idea of scrum and mistake the process with the state of being agile. This is often more detrimental to the enterprise and can often create more process and not enough real agility. What is Agility Agility is the efficiency with which an enterprise executes and delivers on its objectives and goals. Agility is the ability to react to changes in goals, feedback from customers and shifts in strategy. Agility, from the outside, looks like a predictable stream of value delivered by the enterprise that matches and exceeds the needs of the customer. Organizational agility requires agility at multiple levels within the enterprise to drive the insights that can channel and align the efforts of the entire organization by leveraging data and information to make quick and informed decisions. Business Agility Business and customer-facing employees need to achieve "Business Agility". This is the ability of these employees to react to business critical in real time if needed and have access to the latest information at any decision point. Business Agility enables users to reduce the latency or lag between a need in the market or of the customers and when they are able to service the need. Decision Agility Analysts and data scientists creating the insights to drive decisions require "Decision Agility" i.e the ability to easily discover, leverage and use data for analytics and insights through any and multiple tools and channels. Analysts and data scientists need to produce insights that reduce the time and effort required to convert data into information and insights that are required to drive key decisions and actions. Development Agility Application developers and data engineers need the ability to easily generate, collect, access and deli

Lean systems are meant for producing the best products and services with little or no wastage of various kinds of resources. Lean supply chain management purports to create a well designed supply chain management system where all the resources are effectively utilized. The people, processes, technologies and suppliers will be optimized at the beginning of the implementation and it will be an ongoing process. The best of the best features will be implemented and there will be no room for waste. Lean supply chain helps companies deliver high quality products quickly and efficiently. What is expected from lean supply chain management? In fact, lean supply chain management is a new way of thinking to understand the supplier networks. It is required to have cooperation with various suppliers and should be able to balance it with the competition present in the market. There is a great deviation between lean supply chain management and traditional methods. There will be less number of structures in lean model whereas they are more in traditional systems. Most of the lean supply chain management principles are derived from the basic lean principles. How companies will be benefited by the lean implementation? By implementing lean methods in a systematic way, companies will be benefited to the greatest possible extent. The winning business strategy realizes the importance of the relation between the supply chain management and the overall financial status of the company. By streamlining the supply chain management with all the other core aspects of the company, the business will emerge into a profitable enterprise and will be able to deliver cutting edge solutions. Strategy for lean supply chain management In order to implement the lean supply chain management in an effective manner, it is required to build the core infrastructure and should be collaborated internally and should be executed externally as well. The next step would be the selection of the right kind of