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When it comes to inventory management, companies often underestimate the importance of safety stock and the need to maintain optimal levels. While it may seem like the path of least resistance from a service level standpoint, holding excessive inventory stock level leads to suboptimal working capital management and, as a result, hurts profitability by curbing… read more →
Management consulting is an excellent stepping stone for career development as it exposes consultants to multiple industries and functions, while the steep learning curve pushes them to develop transferable skills such as problem-solving, leadership, and communication. However, the industry also comes with a reputation for its long hours and a challenging work-life balance. It is… read more →
Six Sigma, the popular methodology for process improvement, is a statistical concept that identifies the variation inherent in any process. By subsequently working to reduce these variations once it defines them, the Six Sigma methodology diminishes the opportunity for error, thus reducing process costs or increasing customer satisfaction. The core objective of Six Sigma is… read more →
In the past decade, a lot of our Oil and Gas clients have invested heavily in online analyzers as an effective technology to monitor their operation’s health status on a real-time basis. However, through our Assessments and Engagements, we noticed that a lot of these analyzers were underutilized towards their full potential. On average, an… read more →
Outdated Process Series Previous articles in this series discussed the challenges of identifying outdated and inefficient processes and what tools are needed to successfully implement business process improvements. This article will look at one other important component that must be taken into consideration when implementing change: your Management Operating System. The Importance of Your Management… read more →
How many times have we found ourselves using a common tool to solve a multitude of tasks knowing that this tool may not be optimal for the particular task at hand? In the consulting industry, we rely on tools that provide quick answers, and these tools are accessible to our clients as well. But sometimes,… read more →
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