Lean Wednesday Tip: Product Development Costs

“During the design and planning phase of your product is the best time to identify and deal with problems. Being able to understand the many ways your product can fail before costly investments are made in equipment or customer will keep costs down and client satisfaction high.”

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E.O.W (End of the Week) Notable Tip: Reducing defects in a product

Happy Friday!

I hope you’ve had a great week.

Today, I will leave you with a short tip on how to keep product costs and defects low.

“Whenever a faulty product/service reaches a customer, the costs associated with the error increase. Integrating preventative plans to detect and correct the nonconformity before the product/service is prepared to serve the customer is the least costly approach to providing a quality product or service.”

 

I hope you found this short tip useful! As always, “Success is continuous improvement!”

E.O.W (End of the Week) Notable Tip: Aligning product success metrics with customer priorities and strategic goals

Happy Friday!

I hope you had a great week. This week’s Notable Tip is focused on the development of valuable and critical product KPI metrics. If you are not measuring and monitoring the most important metrics of your product’s performance progress then you are missing valuable insights that can help you optimize your product. Below I end this post with a short message on how to ensure product success with well-developed measures of performance.

As always, “Success is continuous improvement.”

“Properly designed measures of performance are aligned with strategic goals of a company as well as with its customers’ priorities. They should be to the point, clearly written, focused and measure what is of value to the customer (product/service attributes).”

Lean Wednesday Tip: Performance Measures

“When you have insufficient information about a product, process or service, you are unable to control it. Ergo, when a process cannot be controlled, the organization is at the mercy of chance. KPIs must be aligned with the strategic goals of a company as well as with its customers priorities.”

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