“Turning Chaos into Cost Savings: A $1 Million Win in CordRecovery/Harvesting”
S – Situation: In early 2020 after peak, our company’s buffer for “cordRecovery” was spiraling out of control, with over 40 pallets of accumulated materials. At the time, there was no standardized process in place, and we faced resistance from a team that was hesitant to embrace change and share information.
T – Task: My mission was to regain control of the Cord Recovery process and bring order to the chaos. This involved streamlining the workflow, despite the initial resistance from the team.
A – Action: To tackle this challenge, I took several strategic actions:
- Collaboration: I reached out to key partners, including Lab126 and CTDI, to understand their needs and priorities. Establishing this collaboration was crucial for alignment and success.
- In-Depth Analysis: I delved deep into the cordRecovery process to identify inefficiencies. Through this investigation, I discovered that the team was spending a significant amount of time cleaning and storing accessories that were unnecessary for our operation.
- Data-Driven Decision: Recognizing the waste in cleaning and storing unneeded accessories, I proposed a data-driven solution. We partnered with Lab126 and CTDI to generate a weekly list of the top 15 accessories that were crucial for harvesting. The remaining accessories would be designated for disposal, reducing unnecessary labor and storage costs.
- Workflow Redesign: I map the entire workflow, introducing new processes and estimate quantities by weight increasing efficiency.
- I renamed CordRevery for Harvesting.
R – Result: The results of these efforts were truly remarkable:
- At the end of that year, Lab126 provided a report indicating that the changes had saved the company over a million dollars. This was a direct result of the efficient Harvesting process, reduced labor, and elimination of unnecessary accessories.
- By partnering with Lab126 and CTDI and engaging the team in a data-driven decision-making process, we not only solved the problem but transformed the cordRecovery process into a lean, cost-saving operation.
- The success of this project not only demonstrated significant financial savings but also improved team collaboration and openness to change. It exemplifies the power of data-driven decision-making, effective collaboration, and efficient process redesign in the business intelligence field.
This success story serves as a testament to the potential for significant financial gains when proactive analysis and strategic partnerships are leveraged to optimize business processes.