What is Operational Excellence?
Operational Excellence has both practical and philosophical meanings.
Practically, achieving Operational Excellence means the execution of the business strategy is more consistently and reliably than the competition. Operational Excellence is evidenced by results. Given two companies with the same strategy, the Operationally Excellent company will have lower operational risk, lower operating costs, and increased revenues compared to its competitors.
Operational Excellence can also be described as a philosophy that embraces problem-solving and leadership as the key to continuous improvement. Operational excellence, is not just a set of activities that you perform. It’s also a mindset that should be present within the organisation.
How to achieve Operational Excellence?
Operational excellence is a journey that involves applying the right tools to the right processes. When this happens successfully, the ideal work culture is created where the team members are provided for in a way that enables them to stay empowered and motivated.
Continuous improvement is the on-going effort to improve an organisation’s products, services and processes. By pursuing continuous improvement, an organisation has a greater likelihood of improving its company culture and performance, which leads to long-term sustainable growth.
Below are some of the proven methodologies for achieving Operational Excellence:
Create flow and eliminate waste in processes through a proven set of steps and tools.
Transform individuals and teams into structured problem solvers with this data-driven methodology.
Manage and influence stakeholders to maximise the effectiveness and financial returns of improvement projects.
Develop a holistic view of operational capability, then target specific areas to deliver sustainable performance.