Biz Byte short - Five ways TIMWOOD identifies where your organisation wastes time, money, and talent.

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As outlined in our previous episode, productivity is one of three key levers in generating business success so it’s vital we take it seriously.

One of the driving factors of sub-par productivity is waste. Waste can be found in both doing or spending too much – inefficiencies and duplication; or not doing enough – untapped or underutilised potential.

• TIMWOOD Model: A productivity model identifying waste in organizations, crucial for business success.
• Five Key Areas: Combines TIMWOOD and DOWNTIME into five areas to evaluate performance and identify improvements.
• High-Level Questions: Provides questions to assess transport, inventory, defects, skills, and overprocessing in your organization.
• Unique Solutions: Emphasizes that solutions are specific to each organization, with future blogs to discuss examples.

Music by arnaud136 from Pixabay