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Tim Woods: 40 and still sexy
In a time where speed and flexibility are crucial, Tim Woods helps companies become more agile and competitive. By being aware of eight types of waste, organizations can improve their processes and create value for their customers and stakeholders.
TIM WOODS is an acronym representing eight types of waste commonly found in work processes within a production company. However, the model can also be applied in administrative or service environments:
Transport
Transport might seem less relevant in an era where we work more digitally. But unnecessary movement of digital files or waiting for physical goods can still cost a lot of time and money.
Inventory
Too much inventory can lead to obsolescence and waste. In our fast-paced markets, companies aim to work "just-in-time," so they deliver exactly what's needed, reducing costs and risks
Motion
This refers to unnecessary movements of people or machines. Even in an office setting, an inefficient workspace can lead to a lot of lost time. Think of employees constantly walking to the printer or a meeting room because it's too far away.
Waiting
Waiting for approvals, deliveries, or information is a major form of waste. By streamlining processes and using technology wisely, you can drastically reduce waiting times.
Overproduction
Producing more than necessary also leads to waste. This applies to both physical products and services or information. It's important to deliver exactly what the customer needs, no more and no less.
Overprocessing
Overprocessing means doing more than necessary to deliver a product or service. For example, a form that needs to pass through several departments for approval.
Defects
Mistakes lead to rework and extra costs. By promoting a culture of quality and continuous improvement, companies can reduce errors and work more efficiently.
Skills
Many organizations still don't fully utilize the skills and talents of their employees. Encouraging training and development leads to better performance and more innovation.
Is Tim Woods still alive and kicking in 2024?
Absolutely: today, we confidently apply the model to digital transformations because it can be perfectly applied to digital processes. This helps organizations work more efficiently and strengthen their competitive position.