Large and small businesses are actively looking for ways to increase revenue and reduce costs. The managing directors of big businesses sometimes just virtually “decree” that specific costs be reduced by eliminating or cutting expenses, freezing salaries or terminating staff. That blunt approach can easily do more harm than good.
For smaller businesses waste reduction can be harder to implement.
The best way to reduce waste is to conduct a waste audit as developed some years ago by Toyota. While they manufacture cars, the process they developed can be used by any business including service businesses such as transport operators.
Toyota identified seven areas of waste which are explored in this Thought Piece produced by NRSPP Program Partner MSA Consulting.