- Pre-ordering too many raw materials, products and /or services (especially ones that can expire)
- Over hiring for the execution of daily operations
- Failing to use utilities wisely, resulting in costly bills
- Wasting space and money in the shipping and transportation of materials
- General lack of efficiency throughout operations
For many companies sustaining steady operations and growth can be a challenge both during a recession AND when it begins to shift. After such hard times it can be an even greater challenge to maintain steady growth. I say steady, as that is the best way to grow your company- growing too much too quickly can have detrimental effects in the long run.
I am reminded of a blog that my co-worker wrote at the beginning of the recession, titled "Leverage BPM to Bridge the Gap in Difficult Economic Times". In his blog, Chris Adams (@CAdamsNC) describes how the use of technology, specifically a Business Process Management (BPM) Suite can help cut costs while maintaining the same level of operations. Adams uses the example of the number of employees compared to the number of work hours involved and how BPM can be implemented to relieve some of the work hours that would typically be left following a reduction in the number of employees. See his image below illustrating how BPM can bridge this gap.
My point in revisiting his blog is to reiterate the fact that as the economy improves, it is still necessary to maintain efficient or "lean" operations. By implementing a BPM Suite to "bridge gaps" you can keep your costs low as your company begins to experience real growth. This of course translates to a greater total income after expenses are paid.
Don't let your business get caught off guard. BPM can help your company create and manage sustainable growth yielding a stronger, more solid foundation for operations.
Mary Katherine Strupe