About this Presentation
The anchor points concept combines the best of theory of constraints and other methodologies such as lean, within the context of getting back to focus in managing and competing successfully in industry. In the ever deepening oceans of data and fast paced currents of change, how do we identify and exploit solid (Anchor) points of information, metrics, and measurements relevant for good decision making? Like a ship in fast moving water, we must identify those relatively few critical points which can keep us in control, and off the rocks. The questions of “what to change”, “to what to change”, and “how to cause the change” are demonstrated and answered via an theoretical case study, amalgamated from several real life applications. At its core, anchor points is about getting back to basics - utilizing the throughput accounting measures of throughput (T), inventory (I) and operating expenses (OE), and merging them with lean flow and drum-buffer-rope and other TOC tactical applications, the approach centers on focus and the need to ignore most of what is going on around you and subordinate it to the critical, solid anchor points of information. T, I and OE factor dashboards vs. segmented KPIs - real actionable anchor points of information, not terabytes of data in ERP systems. In today's world of always on global presence, matrix organizations, multiple software systems and far too many KPIs to count, many organizations have lost their way and are floundering in on time delivery, cost, pricing, and market share. What is worse, in our efforts to bring our large systems under control, we continue to break them up into more and more pieces delivering to one another ... creating misalignment, internal conflicts, conflicting KPIs, adding cost and lengthening development and supply chains unnecessarily. This presentation focuses on root causes of existing issues in manufacturing, the false belief that the west cannot afford to compete in manufacturing due to labour costs, how to get our systems focused and back under control --- utilizing proven TOC approaches such as drum buffer rope, critical chain and throughput accounting. Video length: 59:00. PDF: 36 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.
The concept of 'anchor points' is introduced as a means of navigating the vast amount of data that businesses deal with. These are stable, consistent, and identifiable pieces of information that can be relied upon for decision making.
The dangers of excessive division and segmentation within a company are highlighted. This can lead to disjointed decision making and conflict between departments, as each is measured separately and may be working towards different goals.
The importance of distinguishing between change and improvement is emphasized. This is particularly relevant when considering digitalization and lean management, which may not necessarily lead to improvement if not properly implemented.
Instructor(s)
Wiliam Hoefle
William Hoefle has been teaching and implementing the Theory of Constraints for over 25 years, the first ten in various Director positions with the Avraham Y. Goldratt Institute, founded by Dr. Eli Goldratt, author of the book The Goal.
His work today as Managing Director of Alex Rogo Consulting includes the application of the Theory of Constraints on both a strategic and tactical level to improve the performance of organizations. He is expert in the application and teaching of the Theory of Constraints Thinking Processes, and works with organizations in industries as diverse as medical devices, intelligence and defense, software and media development, automotive, tooling, communications, disk drives, banking, aeronautics and office systems. He is also a certified expert in Lean Management.
While he works in multiple functions, his primary field responsibilities include leading the implementation of enterprise-wide solutions (thought-ware and software) for the management of complex new product development organizations, and his work has been instrumental in the architecture and evolution of constraint-based Development Chain Management systems (portfolio management - pipeline management - project management).
His clients include Boeing Space & Intelligence, Medtronic, General Motors, FMC, Ford, Chrysler, Harris Corporation, Seagate Technologies, Herman Miller, Eaton Corporation, Lucent Technologies, and many others.
He has held associate and adjunct faculty positions in accounting and organizational behavior at Indiana University, is a member of the Turnaround Management Association, The Association of Certified Fraud Examiners, and APICS, and holds a Bachelor of Science Degree in Finance as well as an MBA from Indiana University.
He has also served on the Board of Directors and the Executive Committee of the Greensboro Opera Company, and serves on several small business advisory boards.
He is also the Managing Director of Alex Rogo Ventures, the privately held equity firm dedicated to partnering with and revitalizing underperforming enterprises. He makes his home in Norway.
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.