What is Continuous Improvement?
Continuous improvement, also called continual improvement, based on the plan-do-check-act (PDCA) cycle is the ongoing improvement of products, services or processes. Continuous improvement can be implemented by using incremental or breakthrough improvements. These can be applied interchangeably, but the best way to deploy a thorough continuous improvement program is to combine both. By doing this you can deal with quick wins while giving complex and larger projects the time and attention required.
There are a wide variety of continuous improvement methods and methodologies that can be used to achieve the best results such as Six Sigma, Lean, Innovation, Total Quality Management. All that is required is to select or combine those and their tools and the rest is magic.
The benefits of continuous improvement as way of living is to make your company constantly better by improving your practices to make your team and business more efficient, accurate, and effective.
There will always be room to improve your processes and methods!
What is Operational Excellence?
Operational Excellence is a philosophy where problem-solving, teamwork, and leadership results driven by a consistently and demanding implementation of the company business strategy. The process involves focusing on the customers' needs, keeping the employees positive and empowered, and continually improving the current activities in the workplace.
Operational Excellence drivers are based on continuous improvement methodologies, such as Lean Thinking, Innovation, Six Sigma and Scientific Management, but also integrates Organizational structure and Leadership development.
An Operationally Excellent company will have lower operational risk, lower operating costs, and increased revenues relative to its competitors, creating value for customers and shareholders and should be key for Asset Management success.
Continuous Improvement as a way of living
Continuous improvement, also called continual improvement, based on the plan-do-check-act (PDCA) cycle is the ongoing improvement of products, services or processes. Continuous improvement can be implemented by using incremental or breakthrough improvements. These can be applied interchangeably, but the best way to deploy a thorough continuous improvement program is to combine both. By doing this you can deal with quick wins while giving complex and larger projects the time and attention required.
There are a wide variety of continuous improvement methods and methodologies that can be used to achieve the best results such as Six Sigma, Lean, Innovation Total Quality Management. All that is required is to select or combine those and their tools and the rest is magic.
The benefits of continuous improvement as way of living is to make your company constantly better by improving your practices to make your team and business more efficient, accurate, and effective.
There will always be room to improve your processes and methods!
Continuous Improvement and Data Driven Decision-Making
Data-driven decision making (DDDM) is an approach to business governance that values decisions that can be backed up with verifiable data rather than making decisions that are intuitive or based on observation alone, supporting competitive advantage.
The success of the data-driven approach is reliant upon the quality of the data gathered and the effectiveness of its analysis and interpretation.
Business intelligence tools are a strong resource to analyze the data and allow easy dashboards customization to display the important information in real time. The changes in how data can be mined and visualized allows business executives who have no technology backgrounds to be able to work with analytics tools and make data-driven decisions.
