Innovation & Speed

The concept of Lean originated from the manufacturing industry as it focused on the theme of efficiency based on optimizing work flow. Lean principles evolved from Japanese manufacturing industry and the term was first coined by John Krafcik in a Fall 1988 article, "Triumph of the Lean Production System," published in the Sloan Management Review and based on his master's thesis at the MIT Sloan School of Management. Krafcik had been a quality engineer in the Toyota-GM NUMMI joint venture in California before coming to MIT for MBA studies. Krafcik's research was continued by the International Motor Vehicle Program (IMVP) at MIT, which produced the international best-seller book coauthored by Jim Womack, Daniel Jones, and Daniel Roos called The Machine That Changed the World. The fundamental focus of Lean in working from the point of view of Customer Value has already shown very encouraging results. Starting from cycle time reduction to throughput improvement

In the current industry scenario Superior performance, differentiated products & services, and focusing in a niche area, are the three key parameters that help a company grow. The concept of Operational Excellence addresses the first two aspects. The Wikipedia defines Operational Excellence as a philosophy of leadership, teamwork and problem solving resulting in continuous improvement throughout the organization by focusing on the needs of the customer, empowering employees, and optimizing existing activities in the process. From a practical perspective Operational Excellence involves continuous improvement and demonstrated, quantifiable, sustained improvement in all areas and functions of work in an  organization leading to continuous improvement in all business parameters, organization growth, customer delight and best in class benchmarking. As per the business excellence models, Operational excellence is typically demonstrated by results that reflect (1) sustained imp