Inefficiency 'costing firms 25 % of total expenditure'
Apr 20 2009 3:46PM
News brought to you by IQPC.Inefficiency could be causing businesses to spend 25 per cent more than they need to, according to one expert.
Speaking to Emirates Business, Sunil Thawani, chairman of the continual improvement subgroup of the Dubai Quality Group, explained that firms often ignore best practice and as such can waste large amounts of money.
He claimed that inefficiencies can account for between 15 and 25 per cent of total costs.
"By implementing quality control strategies, organisations can and are handling this cost block effectively," Mr Thawani said.
Firms should consider implementing methods such as Lean Six Sigma and other business process improvements in order to save as much money as possible, he added.
Last week, Bob Gillespie, general manager of the Lean Six Sigma Institute, revealed the firm has opened its first training facility in continental Europe.
The Institut Lean Six Sigma is based in Paris and will offer courses in English, French and Italian.
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