How Continuous Improvement Methods are Having a Positive Impact on Product Reliability and Driving Down Cost
The experiences of four energy industry companies show how continuous improvement techniques can produce measurable benefits, including improved on-time work order completion, cost savings, increased productivity, inventory reductions, and improved process effectiveness. For the energy industry, swings in supply and demand are a normal part of doing business.
Understandably, in times of low prices many companies look to cut costs and increase efficiency. As companies look to make those improvements, many successfully apply continuous improvement methods to save money and eliminate waste. But, while continuous improvement can be quite useful when plummeting prices focus management attention on cost savings, this methodology is essential to energy companies looking to grow and sustain a cost management discipline throughout the complete supply-and-demand cycle.