Lean is a long-term business strategy, with a primary focus on employees and learning. Through the use of various continuous improvement practices, employees learn to master their work, solve the right problems and help an organization learn how to do things tomorrow it cannot do today.
The operational impact of a continuous improvement is well known. Eliminating waste creates capacity, which can be used to serve customers better, improve productivity and improve employee satisfaction. But what about the financial impact? Oftentimes conventional financial analytical practices do not capture the true financial benefits of continuous improvement. This becomes a “problem to be solved.”
In this webinar, will explain how to make the true cause-effect relationships between continuous improvement and financial improvement visible throughout the organization. Integrating these relationships will improve the quality of business decision making and leverage continuous improvement for financial success for the entire organization.
In this webinar, you will learn:
- The numbers to use to establish the true cause-effect relationships between continuous improvement and financial improvement.
- How to use the economics of lean to calculate the financial benefit of continuous improvement
- How continuous improvement achieves cost reduction over time
- Why certain conventional financial analyses can show that continuous improvement is “not working” financially
About Nick Katko
Nick is President and owner of BMA. For over 30 years, Nick has leveraged his lean accounting experience and philosophy in assisting BMA clients in developing, leading and coaching them in their lean accounting transformations. Nick has worked with companies around the world, from family-owned businesses to multi-national companies, in industries such as manufacturing, healthcare, software, engineering and service.
Nick has written extensively on lean accounting. He is the author of “The Lean CFO – 2nd edition” (2023), which is an updated version of the 2013 publication “The Lean CFO.” The Lean CFO has been translated and published in Turkish and Italian. Nick co-authored “Practicing Lean Accounting” (2021), which has also been published in Italian.
Nick has also spoken on lean accounting at lean conferences in the United States, Europe, Asia and Australia.