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Last updated on 2024年6月8日

What do you do if your operational efficiency and cost savings need a boost?

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When your operational efficiency starts to wane and cost savings are not up to par, it's a clear signal that you need to take a closer look at your business processes. Data analysis can serve as a beacon, guiding you through the murky waters of inefficiency. By harnessing the power of data, you can identify bottlenecks, streamline processes, and ultimately boost your bottom line. It's time to roll up your sleeves and dive into the data to unearth the insights that will drive your operations forward.

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Alex Souza

Generative AI | Analista de Dados | Ciência de Dados | Mentor em Dados | Professor | MTAC
Chinmay R.

Manager at MSD | WeDoGood Volunteer | Ex-ZS | Top Voice: Driving Results Through Data Analysis, Problem Solving &…
Rahul Sardesai

Ex Training and Domain manager at Allstate India with a side hustle of instructional design and knowledge management

1 Assess Data

Before you can improve operational efficiency and cut costs, you must understand where you currently stand. This begins with a comprehensive data assessment. Collect data from every facet of your operations and examine it for patterns and anomalies. This may involve looking at production timelines, supply chain logistics, or customer service interactions. The goal is to pinpoint areas where processes are lagging or resources are being wasted. Armed with this knowledge, you can make informed decisions about where to focus your improvement efforts.

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Chinmay R.

Manager at MSD | WeDoGood Volunteer | Ex-ZS | Top Voice: Driving Results Through Data Analysis, Problem Solving & Commercial Strategy
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By assessing data and making data-driven decisions, ?????? ?????? ?????????????? ?????????????????????? ????????????????????, ???????????? ??????????, ?????? ?????????? ?????????????????????? ???????????? ?????? ???????? ????????????????????????. Analyze historical data to identify areas of waste, inefficiency, or potential savings. Utilize data visualization techniques to uncover patterns and insights. Collaborate with cross-functional teams to gather diverse perspectives and data sources. Implement data-driven decision-making processes to optimize workflows and resource allocation. Continuously monitor and analyze data to track progress and identify opportunities for further improvement.

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Rahul Sardesai

Ex Training and Domain manager at Allstate India with a side hustle of instructional design and knowledge management
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Where, when, why, how and how much and what is the cos that is incurred? Philosophical questions are great, but they don't necessarily solve the problem.

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Eremilton Ribeiro

Especialista em análise de dados | Business Intelligence
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Análise de dados revela ineficiências e oportunidades de otimiza??o. Descubra gargalos, reduza custos e impulsione a eficiência da sua empresa.

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Murillo Pocci

Analista de Dados e Automa??es em Auditoria Interna
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Se tratando de eficiência, é necessário sempre realizar uma revis?o das fontes de dados. Os sistemas est?o atualizados? E os processos? A empresa é um organismos vivo e que sofre muta??es durante suas rotinas, fazendo com que sistemas se tornem obsoletos diante de novas solu??es e processos sejam remodelados. é importante manter a obten??o de dados sempre atualizada com a realidade da opera??o.

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Leonardo Santis Meza

Jefe de planta producción | Biotecnología | Ingeniería Industrial | Liderazgo de proyectos | GMP
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Es muy importante tener conocimientos de la organización y sus objetivos para recopilar e interpretar datos. En mi experiencia es fundamental hacer una revisión de procesos con los encargados de dichas tareas, ellos suelen ser los expertos y tienen grandes mejoras en mente. Además, las alianzas estratégicas multidisciplinarias pueden refrescar la visión ante una interpretación de datos. Sin dejar de lado las herramientas de análisis fundamentales para obtener focos para optimizar costos o implementar sistemas de automatización.

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2 Identify KPIs

Key Performance Indicators (KPIs) are essential in measuring operational efficiency and cost savings. Determine which KPIs are most relevant to your goals. These could include metrics like inventory turnover, order fulfillment accuracy, or customer satisfaction scores. By tracking these KPIs over time, you can gauge the effectiveness of your changes and ensure that you're moving in the right direction. Remember, what gets measured gets managed, so be strategic in selecting KPIs that will give you the most impactful insights.

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Shady Salman

Data-Driven Business Improvement Strategist | Expert in Quality Assurance and Data Science | Driving business performance | Developing dashboards, stories and reports using Business intelligence and data analytics tools
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During a major project, I directed the development of KPIs that aligned with organizational strategic goals. For instance, we identified key performance metrics that directly supported strategic objectives, such as response times and satisfaction rates. This alignment ensured that all operational improvements were directly contributing to the broader organizational vision.

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3 Analyze Costs

To boost cost savings, a thorough analysis of your expenses is crucial. Break down costs by department, project, or product line to understand where your money is going. Look for areas with high expenses but low returns on investment. These could be ripe for cost-cutting measures such as renegotiating contracts, automating processes, or eliminating redundant tasks. Remember, the goal is not to cut costs indiscriminately but to do so in a way that maintains or improves quality and efficiency.

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Shady Salman

Data-Driven Business Improvement Strategist | Expert in Quality Assurance and Data Science | Driving business performance | Developing dashboards, stories and reports using Business intelligence and data analytics tools
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Conduct Cost-Benefit Analysis on Technology Investments. In one of my roles, I performed a cost-benefit analysis to evaluate the investment in new initiative. By comparing the costs of implementation with the expected benefits, such as improved efficiency and compliance rates, we were able to justify the expenditure and secure approval from management. This thorough analysis can identify the most cost-effective solutions while maintaining quality and efficiency.

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4 Optimize Processes

With your data assessed and KPIs in place, turn your attention to process optimization. Use data analysis to streamline workflows and eliminate unnecessary steps. This might involve adopting new technologies or retraining staff to follow more efficient procedures. Keep in mind that small changes can have a big impact. Even something as simple as reorganizing a workspace or updating a software system can lead to significant time and cost savings.

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Shady Salman

Data-Driven Business Improvement Strategist | Expert in Quality Assurance and Data Science | Driving business performance | Developing dashboards, stories and reports using Business intelligence and data analytics tools
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A Lean Six Sigma project combined with process mining to streamline a key process. By analysing the process and identifying waste in real time, you can propose several data-driven and non-data-driven solutions, reducing the process handling time significantly and increasing efficiency. Lean Six Sigma methodologies with process mining can be applied to any process to identify inefficiencies and optimize workflows.

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Mandar Umdekar

Senior Technical Consultant | P&C Insurance - Catastrophe Risk Modeling - Allianz SE | Ex Infosys | Ex Arthur J Gallagher | Ex IBM
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We can analyze operational data to pinpoint bottlenecks that slow down processes and lead to inefficiencies. Metrics like processing times, error rates, and resource allocation patterns can reveal hidden roadblocks.

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Leonardo Santis Meza

Jefe de planta producción | Biotecnología | Ingeniería Industrial | Liderazgo de proyectos | GMP
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En mi experiencia; la evaluación de indicadores clave tiene el potencial de generar un impacto significativo en los procesos al reconsiderar los tiempos de ciclo en función de estos indicadores. Al involucrar a los equipos de producción en estas evaluaciones, se obtiene la perspectiva de expertos en los procesos, quienes pueden identificar mejoras básicas que, aunque mínimas y de bajo costo, pueden implementarse de inmediato. Estas mejoras, complementarias a las herramientas principales utilizadas para evaluar indicadores e implementar mejoras en los procesos, pueden tener un impacto notable en la eficiencia y la calidad del trabajo realizado.

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Tammy Thompson

CSSP | IASAE ll | IAM ll | IAT ll | CSAE|CGRC
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Bring solutions to the table in a way which allows executive leadership to make informative decisions that align with overall mission goals and operational requirements.

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5 Engage Staff

Your staff are your most valuable asset when it comes to improving operational efficiency. Engage them in the process by seeking their input and encouraging them to identify inefficiencies. Often, those on the front lines have the best perspective on what works and what doesn't. Foster a culture of continuous improvement where employees feel empowered to suggest changes. This not only leads to better processes but also boosts morale and job satisfaction.

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Murillo Pocci

Analista de Dados e Automa??es em Auditoria Interna
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Como o processo de otimiza??o pode se tratar muitas vezes de um projeto, é importante criar um time multifuncional, tendo em vista que os processos a serem otimizados as vezes transitam em diversas diretorias diferentes. Minha experiência em desenvolver e otimizar solu??es sempre me mostrou que manter os stakeholders do processo próximo ao desenvolvimento faz com que a otimiza??o flua de forma muito mais eficaz.

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Leonardo Santis Meza

Jefe de planta producción | Biotecnología | Ingeniería Industrial | Liderazgo de proyectos | GMP
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En mi experiencia, incorporar una cultura de equipo sólida y fomentar un sentido de comunidad dentro de la organización no solo mejora la comunicación interna, sino que también proporciona una confianza para ofrecer retroalimentación constructiva sobre el desempe?o individual y colectivo. Además, esta cultura fortalece la visibilidad de las sugerencias y contribuciones del capital humano, lo que a su vez nutre un sentido de empoderamiento en sus responsabilidades y su impacto en la organización, dando una sensación de pertenecía invaluable para los equipos.

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6 Leverage Technology

Finally, don't underestimate the power of technology in enhancing operational efficiency and reducing costs. Data analysis tools can automate the collection and analysis of data, freeing up time for staff to focus on more strategic tasks. Additionally, technologies such as machine learning and artificial intelligence can provide predictive insights that help you anticipate and mitigate potential issues before they arise. Embrace innovation and invest in tools that will give you a competitive edge.

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Shady Salman

Data-Driven Business Improvement Strategist | Expert in Quality Assurance and Data Science | Driving business performance | Developing dashboards, stories and reports using Business intelligence and data analytics tools
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Investment in technology significantly reduced the time required to generate reports and improved decision-making processes. By leveraging advanced data analytics tools, organizations can gain deeper insights and enhance operational efficiency.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Alex Souza

Generative AI | Analista de Dados | Ciência de Dados | Mentor em Dados | Professor | MTAC
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Além disso, leve em considera??o a importancia da lideran?a forte e do alinhamento estratégico em todo o processo de melhoria da eficiência operacional. Certifique-se de que todos os esfor?os estejam alinhados com os objetivos de negócios mais amplos da organiza??o e monitore continuamente o progresso para garantir resultados sustentáveis.

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Shady Salman

Data-Driven Business Improvement Strategist | Expert in Quality Assurance and Data Science | Driving business performance | Developing dashboards, stories and reports using Business intelligence and data analytics tools
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Hold regular cross-functional meetings to share diverse perspectives and align teams with improvement initiatives. Clearly define roles to enhance accountability and streamline the process. Collaboratively create governance frameworks that incorporate insights from various departments. Utilize collaborative tools for open and efficient communication. Track initiatives with performance metrics to ensure alignment with goals. Recognize and celebrate team achievements to boost morale and reinforce collaboration. Cross-functional collaboration leads to holistic solutions, improving operational efficiency and cost savings.

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What do you do if your operational efficiency and cost savings need a boost?

1

2

3

4

5

6

7

1 Assess Data

2 Identify KPIs

3 Analyze Costs

4 Optimize Processes

5 Engage Staff

6 Leverage Technology

7 Here’s what else to consider

Data Analysis

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What do you do if your operational efficiency and cost savings need a boost?

1

2

3

4

5

6

7

1 Assess Data

2 Identify KPIs

3 Analyze Costs

4 Optimize Processes

5 Engage Staff

6 Leverage Technology

7 Here’s what else to consider

Data Analysis

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感谢您的反馈

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