Getting off-track while solving a hard problem is to be expected. Getting back on track quickly is part of the art of great problem solving. Knowing how to spot when you’re going off track, and knowing what to do, can be the difference between rapid results and weeks, months, or years of frustration. Heed these four warning signs and you're more likely to right the ship before you veer too far off course.
In McKinsey’s recent article “Pushing manufacturing productivity to the max,” Robert Feldman et. al. suggests that the manufacturer’s dream should be a continuous, real-time data stream. He paints a picture of operators referencing data dashboards that flash alarms when a metric is out of spec, with “profit per hour” at the forefront of these metrics. If you asked McKinsey’s Feldman if there was ever a limit to how much data is helpful, it seems he would say no. But is there such a limit?
When organizations run into problems they don’t know how to solve - really tough problems - the first step is often to call in a subject matter expert. Subject matter experts, be it the OEM (Original Equipment Manufacturer) or a local resource, will lean on their experience to try and draw out a solution. If the problem falls outside of their abilities, they’ll often proclaim the problem impossible.
As capital project development has become increasingly structured and formulaic--to enable scalability and consistency--many projects have become devoid of the entrepreneurial thinking and behavior required to minimize costs and maximize returns.
To break out of this formulaic trance and unleash the creative potential of their organizations, capital project leaders must enable their employees to consider creative alternatives in design and execution, and critically examine opportunities to improve based on their merits.
Think about the most valuable challenges your organization is facing. These are the really tough, messy problems that keep you up at night. If they weren’t so difficult, you most likely would have already solved them! What if it turned out that these problems were not complex, but instead were all surprisingly easy to solve? How would you approach the problems differently?
When you google: “World’s best gold mines” (or any other type of mine) you typically get back a list of the world’s largest mines in terms of annual gold production. While this is no doubt a useful measure, it only captures one aspect of what makes a mining property desirable...
While more NPV is better (all else being equal) this calculation is only meaningful relative to the cost of acquiring the operation in the first place or the price for which it could be sold. So in this article (Part 2 of 3) we have segmented the landscape into four quadrants each with a distinct ownership philosophy and set of implications for operational improvement...
In this article (Part 3 of 3) we explore how dramatic shifts in the gold price will influence the value of each mine type shared in part 2, along with the implications for ownership philosophy and the effects of operational improvements to reduce AISC...
The ongoing price war between Amazon, Walmart, and other consumer goods retailers is great for the consumer, but tough for the Consumer Packaged Goods (CPG) industry. If you are a CPG company, you have already spent the past few decades constantly pushing prices down. And yet the price war will demand even more savings from you in the years to come. There are some more obvious places to look for these savings, as well as a hidden one that you might not initially consider, and which may hold the greatest promise. Let’s go through all the options together, as more opportunities on your plate will give you more options to respond.