About this Presentation
The only purpose of any review, similar to measurements purpose, is to help take better decisions. Most organizations measure a large number of parameters, and typically review monthly. Since the only purpose of review is to take decisions for corrective actions, the monthly review frequency for a large majority of organizations is not appropriate due to the long period between incidence time and corrective action. In my 20+ years experienceof helping organizations for achieving quantum improvement, one common practice has been a weekly review process. Typically the CEO and the direct reports of the CEO / all functional heads / business heads constitute the review team. In the weekly reviews, we review not only the planned and actual results, but also review the trend of the previous 13 week moving average. The 13-week moving average helps in overcoming resistance layer 1 i.e. not accepting the problem. Weekly reviews shrink the time between incidence and corrective action. It also helps develop capabilities of review team members to train them as potential CEOs. Faster reviews along with faster corrective actions generate faster results. Weekly reviews help participants understand the cause-and-effect relationships between different parts of the organization to help increase achievement of the organizational goal. Understanding cause and effect between different functions help reduce local optimization. Reduction in local optimization, in turn, helps increase organizational goal units. Increased organizational performance increases teamwork between different functions / business units. Sharing below the experience of Mr. Mahesh Sharma CEO Flexituff International. The weekly planning vis-a-vis earlier monthly scheduling is perhaps the single biggest change in our approach towards production planning dispatch scheduling and receiveable collection that seemingly has changed our entire working focus. First time, in the month of July 2013, we did not observe month-end syndrome where over 40% dispatchs used to take place in the last week. (The functional heads though now complain of having shifted month-end pressure to now weekend pressure as throughput is measured and monitored at the end of each week!). Weekly planning is resulting in more dispatches and higher payment collection. Video length: 1:00:31. PDF: 16 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 goal of an organization is making more and more money, which is also an index of customer satisfaction and employee satisfaction.
The purpose of the review is to take corrective actions for enhancement of good financial measurements.
Most organizations fail to continuously increase their financial parameters.
Instructor(s)
Ravi Gilani
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.