Profitability Drives Continuous Improvement Efforts in Business

ProfitabilityFactor-Inline.png

Daniel Bumblauskas, Assistant Professor for Operations and Supply Chain Management and Hamilton / ESP Fellow for Supply Chain and Logistics Management, presented his findings on organizational continuous improvement efforts in Iowa and Ireland at the Iowa Lean Consortium (ILC) luncheon.

The ILC is a member-driven non-profit organization dedicated to advancing lean initiatives in all sectors of the economy by providing tools and techniques to meet today's lean business challenges to member-organizations. The ILC partnered with Bumblauskas to provide participants for his study that intended to develop a better understanding of how continuous improvement projects are initiated and why particular projects are selected for improvement. 

"We saw that one of the primary factors in continuous improvement project initiation is profitabilitymore so than other things, like safety. Safety was important but not as important as the companys profitability after the projects completion," said Bumblauskas. Over the course of 10 years, Bumblauskas and his research partner have collected data from organizations in Iowa and Ireland and found similarities in processes, procedures and motivators, including profitability.

"We are starting to learn what's motivating people to look at operations efficiently," noted Bumblauskas. "Business students will be asked to improve a product based on the bottom-line, plain and simple. We can use this research in the classroom to prepare students for the demands in business world."

Daniel and his research partner have plans to present their research at traditional research conferences and through written peer reviewed journals.

A special thanks to Brad Meyer (Drake University), Richard Keegan (Enterprise Ireland and Trinity College), and Teresa Hay-McMahon (Iowa Lean Consortium).

Posted on 11-Nov-16


  






UNIBusiness News

Profitability Drives Continuous Improvement Efforts in Business

ProfitabilityFactor-Inline.png

Daniel Bumblauskas, Assistant Professor for Operations and Supply Chain Management and Hamilton / ESP Fellow for Supply Chain and Logistics Management, presented his findings on organizational continuous improvement efforts in Iowa and Ireland at the Iowa Lean Consortium (ILC) luncheon.

The ILC is a member-driven non-profit organization dedicated to advancing lean initiatives in all sectors of the economy by providing tools and techniques to meet today's lean business challenges to member-organizations. The ILC partnered with Bumblauskas to provide participants for his study that intended to develop a better understanding of how continuous improvement projects are initiated and why particular projects are selected for improvement. 

"We saw that one of the primary factors in continuous improvement project initiation is profitabilitymore so than other things, like safety. Safety was important but not as important as the companys profitability after the projects completion," said Bumblauskas. Over the course of 10 years, Bumblauskas and his research partner have collected data from organizations in Iowa and Ireland and found similarities in processes, procedures and motivators, including profitability.

"We are starting to learn what's motivating people to look at operations efficiently," noted Bumblauskas. "Business students will be asked to improve a product based on the bottom-line, plain and simple. We can use this research in the classroom to prepare students for the demands in business world."

Daniel and his research partner have plans to present their research at traditional research conferences and through written peer reviewed journals.

A special thanks to Brad Meyer (Drake University), Richard Keegan (Enterprise Ireland and Trinity College), and Teresa Hay-McMahon (Iowa Lean Consortium).

Posted on 11-Nov-16







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