Insights from The Lab

Month: February 2016


The Next Industrial Revolution
By The Lab Consulting Cognitive Business Value Knowledge Work Industrialization
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The Next Industrial Revolution

This article from The Lab was featured by Manufacturing Today.

Executives rarely question their ability to notice the value available to their businesses. They might admit they leave a small amount of opportunity on the table, but they cannot imagine overlooking the routine waste of 15 to 20 percent of their earnings. It’s impossible. Someone would notice.

Unless “noticing” is fundamentally flawed…

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When Waste is Virtuous
By William Heitman, Managing Director Knowledge Work Industrialization Virtuous Waste
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When Waste is Virtuous

Executives at a global brokerage knew that errors crept into new account setup and paid a costly staff to correct them. Sound familiar?

Everyone at the brokerage thought the sales force was the cause of this “insignificant, unavoidable” cost of doing business.

Although less than 20% of applications included errors, 60% of the staff’s time was devoted to correcting them. And since staff members found their tasks satisfyingly challenging, and executives perceived them as unavoidable, this “virtuous waste” remained hidden in plain sight…

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Look With Your Mind
By William Heitman, Managing Director Cognitive Business Value
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Look With Your Mind

“People only see what they are prepared to see,” Ralph Waldo Emerson said.

And so it is with business improvement, particularly in the realm of the “knowledge worker.” Prepare your mind to see more and you will find improvements that can increase the value of your business by 15-20% or more…

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Finance Process Improvement by Reducing Management Report Mania

Lean Finance Transformation 101: Finance Process Improvement by Reducing Management Report Mania

Ever watch a copy machine go berserk and start spewing paper out all over the floor? Would you consider this a model for running your finance department?

Well, the finance department of one Fortune 100 company generates more than 10,000 internal, regularly scheduled management reports. Ostensibly, these are used to decide how to optimize revenue, margins and, ultimately, market value…

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Improvements from Start-to-Finish

Since opening its doors in 1993, The Lab has helped some of the best companies in the world become even better.