Eight types of waste Reasons why the waste occurs 1.Over-production: Building batches of products larger than the customers’ immediate need. This waste typically occurs because we want to increase utilisation of large and important machines, are worried about rejects and absenteeism so we produce more to be on the safe side. In just-in time systems being…

Continue Reading

Challenge the old 1. Abandon conventional rigid thinking about how things should be done 2. Think of how to do it, not why it cannot be done 3. Question and abolish old, traditional concepts Just do it 4. Do not seek perfection – do the improvements now 5. Correct mistakes immediately 6. There is no…

Continue Reading

Whilst we can never compare a small four-person start-up in San Francisco to a large government department or a multinational all of these organisations desire to be innovative. For the small hungry start-up company working 80 hours a week, making innovation work is relatively painless as it is the only way they will survive. To…

Continue Reading

Building a High-Performing Finance Team A look inside the book – a 25 page extract Chief Financial Officers around the world are seeking ways where they can be a better leader and business partner. They are seeking to learn from their peers better practices—and become more effective, creating a positive footprint in every organization they are…

Continue Reading

By David Parmenter Forecasting requires a good robust tool not a spreadsheet, built by some innovative accountant, which now no one can understand.  Often the main hurdle is the finance team’s reluctance to divorce itself from Excel. It has been a long and comfortable marriage albeit one that has limited the finance team’s performance. Why…

Continue Reading

By David Parmenter These annual budgeting & planning templates come from “An Annual Plan in Two Weeks or Less implementation guide” (Whitepaper + e-templates).  This  implementation guide is currently on sale (over 40% discount) and comes with over 20 electronic templates including those shown below. To buy the   “An Annual Plan in Two Weeks or Less implementation guide” (Whitepaper +…

Continue Reading

By David Parmenter The 10 common problems with spreadsheets are: Rule of 100 rows I believe you can build a forecasting model in a spreadsheet application and can keep it within 100 rows without much risk. Pass this threshold and you expose yourself, your finance team and the organization. Forecasting requires a robust tool, not a spreadsheet…

Continue Reading

Why annual planning and budgeting is broken By David Parmenter The annual budgeting/planning process is part of the trifecta of lost opportunities for a corporate accountant.  The other two being the year-end accounts and the monthly accounts processes.  All three exercises keep the corporate accountant locked into processing and reporting leaving little time for added…

Continue Reading

 The annual plan is wrong as soon as the ink has dried The annual planning process is part of the trifecta of lost opportunities for a corporate accountant.  The other two being the year-end accounts and the monthly accounts processes.  Annual planning may have worked from Henry Ford but no longer in the 21st century. All three…

Continue Reading

Lessons For Millennial Managers Imagine your organisation being led, at all levels, by ‘winning’ leaders. Imagine your organisation growing all your leaders in-house. Imagine your organisation recruiting the right staff all the time. This website will offer you methodologies from the great paradigm shifters of the last forty years ( Drucker, Welch, Collins, Hamel), along with…

Continue Reading