About this Presentation
The traditional view is that Theory of constraints is based on two principles. 1 One or Few Constraints limit the performance of all Systems 2 To achieve highest, Net Profit, ROI and Cash Flow, managers should focus improvements, investments on better exploiting and elevating Constraint(s). However, there are two other critical principles of Theory of Constraints. 3 You cannot ignore constraints when making commitments 4 How you consider and allocate constraints (the RULES you use), can make a BIG difference on the system performance. In this presentation, Dr. Alan Barnard will share insights on the consequences to managing projects, inventory and making product mix decisions when constraints are not fully considered when making commitments and, if it is misallocated in planning or execution.
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 speaker discusses the impact of changing rules in the planning stage of development, with potential benefits of up to 200,000 in net sales.
The speaker emphasizes the importance of understanding the cost of maintaining inventories and the real order cost.
The speaker also discusses the comparison of traditional rules of MinMax economy with TOC replacement rules and DDMRP, and how these rules handle change and transportation.
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.