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DGX, LLC
316 Communipaw Ave
Jersey City, New Jersey 07304 |
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Phone : 201-433-3390 |
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Fax : 201-433-4334 |
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Email : info@dgxllc.com |
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Owners and Managers of Businesses are particularly concerned with productivity. In today’s Economy the difference between being highly efficient and moderately efficient can be the difference between making a profit and going out of business.
A focus on productivity can cut your costs, allowing you to make a profit even when your competitors are losing money. Here are six key points to increasing your company’s productivity.
- Simplify your processes. Most processes become complicated over time. By simplifying these processes you make your processes more repeatable. Also, simple processes are easier to automate and pass on to less expensive employees.
- Automate your processes. Human time is expensive. If a business process can be done using technology, that process should be automated. Always do a cost benefit analysis in deciding which processes to automate. Start with the processes that offer the best return on investment. For instance, a $5,000 investment in new technology to eliminate $50,000 in labor costs is a great idea.
- Measure everything. If you are serious about becoming more productive, you need to measure all of the important parts of your business. Having good measurements in place will let you understand where your time and money is going.
- Standardize where you can. You want to solve problems once not over and over. By standardizing, you reduce the number of things that can go wrong. For instance, if you have ten computers in your office, it will save you time and money if they are all the same make and models.
- Think about the total cost. Don’t just look at the cost on Items. Think in terms of the total cost and the value it adds to your company’s key objectives. For example, we all have tried the “cheaper” way because the pricing was inexpensive. Only to learn that the old saying of “getting what you pay for” is true because the “cheaper” way was actually more expensive in terms of the amount of time that it required.
- Solve problems once. When faced with a challenging decision, see beyond the specific problem. For instance, don’t think in terms of “Mrs. James didn’t pay her bill.” Think in terms of “Some customers won’t pay their bill on time–how should we handle late payments?” If you understand the general issue behind the problem, you are able to come up with a way to handle that specific problem, allowing you to create a policy that will let employees deal with similar issues in the future without requiring your attention.
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