About this Presentation
TOC puts extreme importance on measurements as a major influencer on the behavior of people within systems. TOC points out that improper measurements can cause existing systems to perform below their potential. Yet TOC provides just directions for the new measurements. Many companies that implement TOC logistical solutions request more concrete answers to two major questions: One, what measurements should be used in order to motivate management and the workforce to act and behave in line with the company’s goal? Two, practically, how to ensure that there is enough budget to finance the actions that management is expected to take as per the TOC solutions. This master class deals with these two practical questions. First, we define Local Operational Indicators (LOI's) for the organization level of department or a function within the organization. These LOI's help to ensure that the local activity supports the good of the company. We will suggest potential LOI's and the way to numerically and visually use them. The second part of the class suggests the development and the use of money buffers for the TOC logistical solutions. The buffers of the logistical solutions provide early warning and prompt management to take corrective actions before it becomes too late and too costly. Yet, these actions usually demand additional expense. The money buffers provides the financial support and control of such actions. The application of money buffers is demonstrated for the different TOC logistical solutions.
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)
Oded Cohen
Oded Cohen is a leading expert and developer of TOC, starting with Dr. Goldratt from the very early years of then emerging TOC. Oded significantly contributed to developing TOC for Production, TOC Thinking Processes and TOC for Management. Oded has over 45 years of experience working with companies and individuals all over the world. He is the author of Ever Improve - a TOC concept and major book on TOC methodology and mechanics of solutions for Make to Order and Make to Availability, and one of the authors of the concept of the Decalogue, presented in the book called Deming and Goldratt. Oded was the TOCICO founder and the first Chairman, and is the Co-Founder and Co-President of TOC Practitioners Alliance – TOCPA.
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.