Plano, TX (PRWEB) March 03, 2014
Pinnacle Strategies released a new video highlighting Little’s Law and shows how project managers can use Little’s Law to improve process performance and reduce chaos in their system. Mark Woeppel, president and CEO of Pinnacle Strategies, teaches how this chaos results in missing deliveries, losing customers and losing market share, and ultimately results in losing money.
Woeppel explains Little’s law, stating that in a stable process, there are only three important characteristics that govern process behavior – and there is a relationship between these three process characteristics. If managers change one, it will affect the other two.
Those characteristics are:
1. Inventory or work in the system
2. Queue or waiting time
Woeppel teaches why this law impacts managers and process performance by highlighting the relationship between these three characteristics. Little’s Law teaches managers when work is introduced into the system faster than the current throughput, the queue times increase. Aside from the wasted investment in idle work, queue times are important because they are most significant to customers. Not only does it affect customers, it affects the people in the process. When there’s too much workload, the work priority system breaks down, resulting in extra work sorting and re-sorting work.
Woeppel illuminates how to reduce chaos in your system and gives practical advice managers can implement immediately to help improve their process performance.
Watch the video titled “Little’s Law – The ONE thing you can do to improve process performance” here: http://pinnacle-strategies.com/littles-law-the-one-thing-you-can-do-to-improve-process-performance.html. To view other videos by Pinnacle Strategies, please visit http://pinnacle-strategies.com/thought-leadership/videos.html.
About Pinnacle Strategies
Pinnacle Strategies is an international management consulting firm focused on operations management excellence. We work with organizations to increase shareholder value by developing high-performance business processes that significantly enhance productivity, reduce costs and time to market, improving profitability and accelerating sustainable growth. Pinnacle Strategies offers results-driven consulting solutions in the areas of performance management, project management, operations management, and supply chain.
For more information, contact Pinnacle Strategies at info(at)pinnacle-strategies(dot)com, or +1 972-492-7951.