Improving your current business procedures will be a great way to improve the value of your firm. As companies are here growing and changing, they are becoming more complex than usual. More people are getting involved in daily operations, and the data gets broken down into various systems. Nowadays, as per Michael Giannulis, there you have more variability available in what the customers are expecting and planning to purchase.
All these steps are making the process more complex, difficult in controlling and variable. It might add up some cost and risks to business. During this stage, for continuing the growth of your business, it is important that you work hard to improve margin and create a scalable firm. For that, the procedures need to be improved and evaluated.
The first step to consider according to Michael Giannulis:
When it comes to effective process improvement, the first step to consider is setting out an achievable and clear growth. It helps to connect the initiatives of process to the current business values.
- These goals will prove to be the foundation for every possible improvement project.
- They are also going to be the basis of communication to employees and managers, working on said projects.
- These steps make it clear on why some improvements are given more priorities over others.
- It will provide that hardcore accountability for hitting some of the specified targets in here.
When you are making plans to decide on the goals for you to set, there are some better business procedures to follow to add more value to the thought.
Identification of the services which are working and which are not according to Mike Giannulis:
Make sure to take your time and have a decent chat with people who are involved in this procedure. Always be sure to identify from their ends and ask for some of the benefits involved with this procedure. You might want to learn more about the pitfalls as well. If they are checking out some problems with the goal, then don’t forget to ask about those as well.
Procuring one initial feedback from major stakeholders will offer executives of your firm with some invaluable insights on the processes in the current business, which needs to be streamlined.
Reducing the costing level of it all:
Whenever you are dealing with an efficient process, then the execution time will be less. As per Mike Giannulis, an efficient process will involve few steps and will also make wasteful activities more obvious and easier to eliminate as a result. Working on an efficient process will reduce running costs and also reduce the cost of quality.
Removing or planning to streamline a process with salespeople for help will get to generate more opportunities. It can also reduce the cost of sales operation to a great extent. So, try to create a process in a disciplined manner. It helps to improve the data quality on orders. It can also reduce mistakes on current product shipments to customers.