Biz Byte short - Five ways TIMWOOD identifies where your organisation wastes time, money, and talent.

As outlined in our previous episode, productivity is one of three key levers in generating business success so it’s vital we take it seriously.

One of the driving factors of sub-par productivity is waste. Waste can be found in both doing or spending too much – inefficiencies and duplication; or not doing enough – untapped or underutilised potential.

• TIMWOOD Model: A productivity model identifying waste in organizations, crucial for business success.
• Five Key Areas: Combines TIMWOOD and DOWNTIME into five areas to evaluate performance and identify improvements.
• High-Level Questions: Provides questions to assess transport, inventory, defects, skills, and overprocessing in your organization.
• Unique Solutions: Emphasizes that solutions are specific to each organization, with future blogs to discuss examples.