Efficiency (2.4.1)

Question 1

What does Efficiency mean?

Answer 1

Maximizing your output from your inputs to minimize cost per unit

Question 2

What are the ways that you can improve efficiency?

Answer 2

-Standardization
-Outsourcing Departments
-Delaying unneeded management
-Removing unneeded staff
-Lean Production
-Reduce Stock Levels

Question 3

What is Lean Production?

Answer 3

It focuses on eliminating waste, improving efficiency, and maintaining quality.

Question 4

What is Kaizen?

Answer 4

Kaizen is a Japanese term meaning change for the better or continuous improvement. It is a Japanese business philosophy that concerns the processes that continuously improve operations and involve all employees. Kaizen sees improvement in productivity as a gradual and methodical process.

Question 5

What are the Benefits of using Kaizen?

Answer 5

-Increased Productivity
-Reduced Waste
-Better management of resources
-Improved quality
-Better safety
-Lower costs
-Higher Customer Satisfaction
-Improved cooperation and communication
-Higher employee satisfaction and morale

Question 6

What are the Drawbacks of using Kaizen?

Answer 6

-Difficult to implement in existing businesses
-Resistance to change
-Time and effort required to see results
-Costly
-Management involvement is a must
-Slow process of improving workers skills and so can demand higher wages