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What do you do if you want to apply Lean Manufacturing principles to late career and retirement planning?

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If you are approaching the end of your career or planning for retirement, you might be wondering how to make the most of your time, money, and skills. Lean Manufacturing is a philosophy and a set of tools that can help you optimize your value stream, eliminate waste, and continuously improve your processes. In this article, you will learn how to apply some of the key principles of Lean Manufacturing to your late career and retirement planning.

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Devinder Kumar Banwet

Vice Chancellor Founding (Retd.) UNIVERSITY OF ENGINEERING & MANAGEMENT KOLKATA INDIA
Janakiram S D

Co-Founder at ESAAC LLP

1 Identify your value

The first step in Lean Manufacturing is to define what value means for your customer. In your case, the customer is yourself. What are your goals, needs, and preferences for your late career and retirement? What are the activities, experiences, and relationships that bring you joy and satisfaction? How do you measure your success and happiness? These questions will help you identify your value proposition and your value stream, which are the products and services that you deliver to yourself.

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Beau Groover

I help Manufacturing Leaders GET SH!T DONE and win.
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To apply Lean Manufacturing principles to late career and retirement planning, first, identify and cut unnecessary spending to boost savings. Next, keep improving by reviewing and adjusting your financial plan regularly for efficiency and long-term security.

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Sudip Paul

Project Manager @Google || ??? 5x LinkedIn Top Voice || 400K impressions || QCFI??Gold Award || Lean Six Sigma Green Belt || Operational Excellence
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To apply Lean principles to late career and retirement planning, start by understanding your own desires and goals. Define what brings you joy and satisfaction, and identify how you measure success and happiness. This self-awareness forms the foundation for optimizing your late career and retirement journey, ensuring that you focus on what truly matters to you.

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Thiago Loretti

Gerente de Qualidade, Sustentabilidade e Processos | Professor Lato Sensu na Funda??o Assis Gurgacz | Pesquisador de Kaizen | Master Black Belt em Lean Six Sigma | Auditor Líder ISO 9001 e 14001
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Ao aplicar os princípios do Lean Manufacturing ao planejamento de fim de carreira e aposentadoria, primeiro identifico atividades essenciais para um processo de aposentadoria tranquilo. Elimino desperdícios, como desorganiza??o financeira, planejando e gerenciando recursos adequadamente. Utilizo ferramentas Lean, como o 5S, para organizar documentos e informa??es financeiras. Implemento fluxos de trabalho simplificados para transi??es de carreira suaves, focando na transferência de conhecimento e na defini??o de metas claras para a vida pós-aposentadoria. Adoto uma mentalidade de melhoria contínua, ajustando o plano conforme necessário para garantir uma aposentadoria confortável e satisfatória.

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2 Eliminate waste

The second step in Lean Manufacturing is to eliminate waste, which is anything that does not add value to your customer. Waste can be classified into eight types: defects, overproduction, waiting, non-utilized talent, transportation, inventory, motion, and extra-processing. In your late career and retirement planning, you can apply this concept by identifying and eliminating the sources of waste in your life. For example, you can reduce defects by avoiding mistakes and errors that cost you time, money, or reputation. You can avoid overproduction by not working more than you need or want to. You can minimize waiting by planning ahead and avoiding delays. You can leverage your talent by using your skills and knowledge in meaningful ways. You can optimize transportation by choosing convenient and efficient modes of travel. You can manage inventory by decluttering and organizing your belongings. You can reduce motion by designing ergonomic and comfortable spaces. You can prevent extra-processing by simplifying and streamlining your tasks and routines.

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Sudip Paul

Project Manager @Google || ??? 5x LinkedIn Top Voice || 400K impressions || QCFI??Gold Award || Lean Six Sigma Green Belt || Operational Excellence
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In late career and retirement planning, applying Lean principles means streamlining your life for maximum fulfillment. Identify and eliminate wasteful practices, like overcommitting, waiting on opportunities, or cluttering your space. Optimize your talents, minimize unnecessary tasks, and simplify your routines. Embrace efficiency to focus on what truly matters in this next phase of life.

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3 Implement flow

The third step in Lean Manufacturing is to implement flow, which is the smooth and uninterrupted movement of value from the beginning to the end of the process. Flow eliminates waste by reducing cycle time, inventory, and variation. In your late career and retirement planning, you can implement flow by creating a clear and consistent vision for your future and aligning your actions with your goals. You can also create flow by eliminating bottlenecks, interruptions, and distractions that disrupt your progress. You can use tools such as calendars, checklists, and reminders to help you stay on track and prioritize your tasks. You can also use feedback loops and data to monitor and measure your performance and outcomes.

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Sudip Paul

Project Manager @Google || ??? 5x LinkedIn Top Voice || 400K impressions || QCFI??Gold Award || Lean Six Sigma Green Belt || Operational Excellence
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In late career and retirement planning, applying Lean principles means finding your flow. Picture a seamless journey towards your retirement goals, where every action aligns with your vision. Say goodbye to bottlenecks and distractions, and hello to clarity and efficiency. Embrace tools like calendars and feedback loops to stay on track. It's about smooth sailing towards your retirement dreams, with minimal waste and maximum fulfillment.

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4 Embrace pull

The fourth step in Lean Manufacturing is to embrace pull, which is the principle of producing only what the customer demands and when they demand it. Pull reduces waste by avoiding overproduction, inventory, and obsolescence. In your late career and retirement planning, you can embrace pull by adapting to your changing needs and preferences over time. You can also use pull by setting flexible and realistic expectations and goals that match your capabilities and resources. You can also use pull by soliciting and responding to feedback from yourself and others who are important to you.

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Sudip Paul

Project Manager @Google || ??? 5x LinkedIn Top Voice || 400K impressions || QCFI??Gold Award || Lean Six Sigma Green Belt || Operational Excellence
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In late career and retirement planning, embracing pull means aligning your goals with evolving needs and desires. It's about crafting a flexible roadmap that responds to your changing circumstances. By staying open to feedback and adjusting accordingly, you can minimize waste and optimize your resources for a fulfilling retirement journey.

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5 Pursue perfection

The fifth step in Lean Manufacturing is to pursue perfection, which is the mindset of continuously seeking improvement and innovation. Perfection is not a destination, but a journey. In your late career and retirement planning, you can pursue perfection by embracing a growth mindset and a lifelong learning attitude. You can also pursue perfection by experimenting with new ideas and opportunities, and learning from your failures and successes. You can also pursue perfection by benchmarking and networking with others who inspire and challenge you.

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6 Respect people

The sixth and final step in Lean Manufacturing is to respect people, which is the foundation of a culture of excellence and collaboration. People are the most valuable asset in any organization, and they deserve respect, trust, and empowerment. In your late career and retirement planning, you can respect people by acknowledging and appreciating your own strengths and weaknesses, and those of others. You can also respect people by communicating effectively and transparently, and listening actively and empathetically. You can also respect people by giving and receiving constructive feedback, and supporting and mentoring others who share your vision and values.

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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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Devinder Kumar Banwet

Vice Chancellor Founding (Retd.) UNIVERSITY OF ENGINEERING & MANAGEMENT KOLKATA INDIA
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Establish your worth and indispensability. Waist or waste reduction to loose unnecessary fat. Work smartly to keep up with dynamic entrants that threaten your experience.Tradition and innovations topped would put miles ahead. Design for obsolence rather than longevity.

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Janakiram S D

Co-Founder at ESAAC LLP
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the foundational principle of Lean is Do it Now or Bias for Action. It’s all the more important at this stage of life. Besides living in the present moment with a bias for action, one must also have a kaizen mindset and focus on first things first. So prepare for the journey ahead to come, so spend time learning more about the after death life and the noble qualities to be nurtured and developed; get rid of S zero or old things; think and act now how your possessions will be viewed after you are gone and so do it now accordingly, - sharing from experience of spending more time on reading scriptures and related books on soul…

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What do you do if you want to apply Lean Manufacturing principles to late career and retirement planning?

1

2

3

4

5

6

7

1 Identify your value

2 Eliminate waste

3 Implement flow

4 Embrace pull

5 Pursue perfection

6 Respect people

7 Here’s what else to consider

Lean Manufacturing

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What do you do if you want to apply Lean Manufacturing principles to late career and retirement planning?

1

2

3

4

5

6

7

1 Identify your value

2 Eliminate waste

3 Implement flow

4 Embrace pull

5 Pursue perfection

6 Respect people

7 Here’s what else to consider

Lean Manufacturing

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