About this Presentation
This presentation is about how TOC enabled us to succeed in acquiring and integrating an Ikea first-tier supplier’s operations (in spite of difficult economic times). The company was heading fast towards a cliff... due date performance (DDP) was appalling, working capital (WC) sky high, warehouses filled with all the wrong materials and components, customers were looking for alternative suppliers (to us), batch sizes were large, cash flow poor, in-fighting and turf protection, nobody (within the company) knew the company's overall performance... The results included: DDP increased; customer satisfaction increased (we managed to retain the biggest customer, Ikea); existing customers awarded us with more business (also Ikea); hidden capacities were revealed: availability (of machine capacity, warehouse storage and manpower) increased; internal lead times decreased; batch sizes decreased, set-ups increased (even though everyone thought we were mad and wasting capacity); inventory decreased; WC was no longer a problem, the warehouse was under control; precious cash flow was freed (where none was available anywhere!); and ROI increased. We developed and implemented a four-stage project acquisition approach using critical chain project management (CCPM) principles.
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.
The acquisition of Unitplast by Tomplast was strategic for growth, elimination of competition, and acquisition of new technologies and market shares.
The implementation of Theory of Constraints (TOC) in business operations led to significant improvements in due date performance and working capital management.
Companies should consider various factors such as working capital employed, current performance, and potential for improvement before making acquisitions.
Instructor(s)
Mark Stemberger
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.