About this Presentation
This presentation will examine the body of knowledge of TOC as developed by Dr. Eliyahu Goldratt and explicitly demonstrates a lack of sufficiency in the body of knowledge to create and sustain profitability in organizations. Our presentation will also demonstrate how the addition of the management of the flow of money in a business adds the sufficiency necessary for an organization to achieve its goal of making more money now, as well as in the future.
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 speakers introduce a process called 'Standing on the Shoulders of Giants', which involves identifying a successful model or individual (a 'giant'), understanding the area not addressed by the giant, and building upon their work.
The speakers propose a new concept called 'throughput margin', which is the rate at which the system generates money. This concept is distinct from 'throughput', which is commonly thought of as physical or logistical flow.
The speakers argue that the primary objective of operations should be improving the flow of money, not just physical or logistical flow. They propose that companies should adopt a mechanism that links every local action and decision to the global performance of the company.
Instructor(s)
Jennifer Eckman
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.