08 - How the TOC (Theory of Constraint) brings a value ?

Description

Guest Name : Chris Sims - CEO @ Harmony Applied Insights. Language : English, Publication date : July 28th. 2019 Interviewed Chris Sims, a CEO for Harmony Applied Insights,  a consultancy and Big Data ventures firm that helps a clients capitalize on their investments in technology and produces bottom-line driven roadmaps for capitalizing on the era of  the Intelligent Enterprise. Chris explained the essential of the TOC and how it brings the value into a Supply chain. The Theory of Constraints is a methodology for identifying the most important limiting factor (i.e. constraint) that stands in the way of achieving a goal and then systematically improving that constraint until it is no longer the limiting factor. In manufacturing, the constraint is often referred to as a bottleneck. The Theory of Constraints takes a scientific approach to improvement. It hypothesizes that every complex system, including manufacturing processes, consists of multiple linked activities, one of which acts as a constraint upon the entire system (i.e. the constraint activity is the “weakest link in the chain”).