Learn ‘lean’ to cut costs

When Andrew Ballard, president of Marketing Solutions, asks business owners or managers how to increase their bottom line, most reply, “by cutting costs.” On the other hand, “lean” practices can cut costs that eat profit, such as redundancy and time.

Lean practices can save money, but look beyond bottom-line savings; time is money, and increasing customer value usually gives a competitive advantage and more revenue.

The objective of practicing lean is to increase productivity and profit by eliminating waste that does not create value for the end customer.