Waste is the activities or expenditure of resources which do not create or sustain value. So identifying waste, acknowledging it, determining the root cause of it and addressing it will build value for your customers and boost your bottom line. Energy is a great place to focus, as scarcity can drive up its price.
This week, I came across a company which has been on the "lean journey" for some time. The first thing that strikes you when you see the production floor is the tidiness and order of their production line - which is being shaped by the suggestions and improvement ideas of their staff.
Conservation is a core component of any continuous improvement initiative - conserving energy and materials to avoid waste. Some companies are implementing clever ideas that maximise energy effectiveness.
The benefit of such thinking, however, is the formal process which captures ideas and the culture of improvement that is sustained over the long term.
I get inspired when I see businesses grasp new ways of thinking in achieving their goals, be it managing energy or improving business performance in general to deliver greater returns and/or improve the working environment for themselves and their staff.
Maybe some of this has rubbed off on Bell jnr, who knows? But one thing is sure, the amount of energy being expended in recreating Deep Purple in our lounge right now might be causing strain on the national grid.
-Russell Bell's Zenith Strategic Solutions is a specialist Wanganui business advice and consultancy practice - if you want more information on how they can help your business, call Russell or Stephanie on 06 347 9997.