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What is the concept of loss in manufacturing?
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In conversations about operational excellence, a question that often arises is: What is a loss? It’s an insightful question, as the concept of loss is also an opportunity. Often referred to as waste, the term underscores a reality: up to 30% of our efforts—whether in materials, time, energy, or resources—don’t generate value. That 30% represents the gap between where you are and where you could be.
Key Highlights:
- Loss is opportunity: Up to 30% of efforts—materials, time, and energy—are often wasted, signaling the gap between current performance and the ideal state.
- Observation drives change: Hidden losses persist because we overlook them. Leaders who model curiosity awaken teams to inefficiencies.
- Turn gaps into value: Identifying and addressing hidden losses leads to sustainable value creation, not just temporary fixes.
Would you like to know more about ways to unlock hidden value in your manufacturing operations?
Book a demo with one of our Smarterchains advisors: https://www.smarterchains.com/industry-40-platform-demo
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