Strategy Driven

OCTOBER 11, 2023

For small business owners, reducing operational costs is essential for the success of the company. Fortunately, there are several strategies to use for reducing operational costs and ensuring that a small business remains profitable. Below are eight effective ways to reduce operational costs in your small business.

Operations 97

Operations Cost Lean Manufacturing Outsourcing 97

Harvard Business Review

MAY 26, 2016

It involves replacing traditional mass manufacturing with “lean manufacturing” principles. Over the last thirty years, the lean approach — developed by Japanese automakers — has permeated the manufacturing sector in developed countries, but is much less commonly used in the developing world.

Lean Manufacturing 10

Lean Manufacturing Supply Chain Apparel Compliance 10

Harvard Business Review

MAY 31, 2016

the Internet of Things (IoT), Digital Manufacturing, and big data and advanced analytics. There is a common misconception that technology alone can produce magical results. Operations in a Connected World. The technologies and processes that are transforming companies. ” Insight Center. Sponsored by Accenture.

Operations 8

Operations Lean Manufacturing Technology Software 8

Harvard Business Review

MAY 28, 2015

Technologies like 3-D printing, robotics, advanced motion controls, and new methods for continuous manufacturing hold great potential for improving how companies design and build products to better serve customers. Why are older incumbent firms slow to adopt new technologies even when the economic or strategic benefits are clear?

Technology 8

Technology Depreciation Christensen Short-term 8