About this Presentation
With throughput accounting ALONE, a Viable Vision can be achieved and take companies to 20% ROS without taking real risks in a competitive marketplace. Think bigger! In the short-term, we claim that throughput accounting can increase Return on Sales (ROS) by 10% percentage points (like from 5% to 15% ROS). In the longer-term, throughput accounting can guide a company to make 20% ROS again without taking real risks in a competitive marketplace. The requirements of making money now and in the future: are to ensure enough of the “right” sales by ensuring a high-enough win rate on quotes and by ensuring a good product mix for productivity. To ensure enough net profit is achieved, the organization must ensure that all variable and fixed costs are covered and ensure a high-enough margin on jobs. Cost-world and throughput-world thinking is contrasted using traditional and throughput accounting using both macro- and micro-level examples. Several new terms are defined and illustrated linking markets and pricing to organization resource capabilities and profit. Video length: . PDF: slides.
What Will You Learn
To help you get the most value from this session, we’ve highlighted a few key points. These takeaways capture the main ideas and practical insights from the presentation, making it easier for you to review, reflect, and apply what you’ve learned.
Instructor(s)
Brad Stillahn
Brad Stillahn: As the owner of Adstick Custom Labels in the late 1990’s, Brad developed the world’s first comprehensive system – for costing, quoting, and pricing to make more money – based on the Theory of Constraint’s (TOC) Throughput Accounting. With Science of Business, he expanded the Job Shop Pricing System to ensure that it would work universally for complex custom job shops, machine shops, and custom manufacturers of all sizes, types, and a wide variety of industries. Brad was Director of Corporate Marketing for Menasha Corporation, a large privately held, multi-divisional company based in Wisconsin. He previously held a variety of management responsibilities at Owens-Illinois, a publicly traded multibillion-dollar packaging company. Brad is TOCIO certified as a TOC Expert, is a Certified Exit Planner (CExP) by the Business Enterprise Institute, and has APICS certifications in Production and Inventory Management (CPIM) and Integrated Resource Management (CIRM). He received his MBA from Washington University in St. Louis.
Ms Alka Wadhwa
Alka Wadhwa is an experienced consultant and process improvement expert with over 24 years of expertise in the Theory of Constraints (TOC), Lean Six Sigma, and organizational performance optimization. She has successfully led projects in healthcare, financial services, and manufacturing, driving significant improvements such as a 67% boost in hospital operations and a 140% increase in outpatient visits.
Previously, Alka Wadhwa spent 17+ years at GE Global Research Center, where she led initiatives to enhance various GE businesses through advanced technologies, process redesign, and system optimization. Founder of Better Solutions Consulting, LLC, she specializes in using TOC, Six Sigma, and data analytics to streamline operations and build high-performance teams.
Her work has earned her multiple accolades, including the Empire State Award of Excellence in healthcare.
Dr Gary Wadhwa
Dr. Gary Wadhwa is a Board Certified Oral & Maxillofacial Surgeon with extensive experience in the field. He completed his Oral & Maxillofacial Surgery training at Montefiore Hospital, Albert Einstein College of Medicine in Bronx, NY, and has served as an Attending at prestigious institutions like St. Peters Hospitals, Ellis Hospital, and Beth Israel Hospital in NY. With a career spanning over two decades, he was the former CEO and President of a group specialty practice in NY from 1994 to 2015. Dr. Wadhwa holds an MBA from UT at Knoxville, TN, and has undergone additional training in System Dynamics at MIT, Health System Management at Harvard Business School, and Entrepreneurship and healthcare innovations at Columbia Business School. Committed to expanding access to Oral & Maxillofacial Surgery care, he is currently engaged in a meaningful project to provide healthcare services to underserved populations in inner city and rural areas through non-profit Community Health Centers.