The extent of damage that can be caused by process inefficiencies and improper workforce planning are often overlooked!! During good times, executives tend to think of 'continuous improvement' as (at best) just a good-to-conduct steps.
They forget that reducing wastes, increasing efficiencies and properly planning your workforce are not just nice to have process/operational features, but many times they can be the determining method by which an organization is able to stay afloat during market and economic downturn...
When challenges come, the weakest link breaks off first! Continuous Improvement is not just about reducing costs and increasing profits... Yes, it can do that and more. During economic downtimes, efficient ways of working can help you to better utilize the same set of inputs to produce better, cost-efficient out-puts.
This article is about the Oil & Gas industry, but frankly the lesson is for all verticals. It is time that leaders realize and start to utilize true potential of continuous improvement strategies and methodologies.
Read the article: Shale Executive Sees “Another Round Of Bankruptcies” Looming
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