In this lesson, Nick Palazzolo, CPA, unpacks the Theory of Constraints, a method to identify and manage the most critical limiting factors within a process. He explains how constraints, akin to bottlenecks, can hinder a manufacturing line and demonstrates how to address these with the five focusing steps: Identify, Exploit, Subordinate, Elevate, and Repeat. With a practical walkthrough, Nick shows how to maximize throughput using existing resources, align activities to support the constraint's needs, and when to consider capital investment. The continuous cycle of improvement is stressed, emphasizing the importance of tackling each constraint in turn to optimize production efficiency and never becoming complacent in the quest for operational excellence.
Lesson: Theory of Constraints
In this lesson, Nick Palazzolo, CPA, unpacks the Theory of Constraints, a method to identify and manage the most critical limiting factors within a process. He explains how constraints, akin to bottlenecks, can hinder a manufacturing line and demonstrates how to address these with the five focusing steps: Identify, Exploit, Subordinate, Elevate, and Repeat. With a practical walkthrough, Nick shows how to maximize throughput using existing resources, align activities to support the constraint's needs, and when to consider capital investment. The continuous cycle of improvement is stressed, emphasizing the importance of tackling each constraint in turn to optimize production efficiency and never becoming complacent in the quest for operational excellence.
Updated: May 31, 2022 Create an account