In episode 116 of Financially Simple, Justin looks at the history of Operations Management.
Business and Industry has come a long way since the Industrial Revolution in the early 20th Century, with advancements in technology as well as the Operational Processes that manage them. Justin gives a brief history of the development of Operations Management over the last 100 years - looking at the key points of the evolution of Operations, and where it’s headed next.
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ARTICLE TRANSCRIPT: https://financiallysimple.com/evolution-business-operations-management/
00:43 - The History of Operations Management
01:32 - The Principles of Scientific Management
02:34 - Assembly Line/Parts Standardisation
03:41 - Method-Time Measurement
05:52 - Toyota Production System
06:58 - Six Sigma
08:10 - ISO 9000
08:39 - Lean Operations
10:03 - The 5 Key Principles of Lean
10;46 - 8 Waste Obstacles of the Lean Process
13:26 - Business Process Re-Engineering
13:49 - 7 Components of Business Process Re-Engineering
18:44 - Next Generation Risk Management
22:08 - Summary
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Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.
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