Businesses in any industry can take surprisingly simple steps to reduce waste and make customers and employees happier, all while improving profits.
Operating efficiently means using resources like time, people, equipment, inventory, and money in an optimized way to serve the business. Efficient companies are leaner, agile, and more profitable.
Operational efficiency is often mistakenly seen as being just for manufacturing companies and all about buying better and faster machines. If you’ve ever had this thought, your business could be missing out on the huge benefits of operational efficiency, including:
- Bottom-line savings
- Employees who know where to find tools, resources, and information
- Better products
- Happier customers
Check out our article at BDC.ca and see how you can apply operational efficiency in your business starting today.
(November 16, 2023)