Speaker 1: Hello guys, you're welcome to today's class and I know it has been an amazing ride from the very beginning You know today we'll be talking about operations efficiency and process Improvements operations efficiency involves streamlining processes to achieve optimal results with a minimal waste Process improvement is an ongoing effort to enhance these processes continuously basically what it means is what are the things you can do to improve your operations and in the production of what you are currently doing, that is your product in your business and there are certain strategies and methodologies that organizations use to enhance their operational efficiency and effectiveness. Number one is the key principles of lean management and continuous improvement. Basically, lean management focuses on eliminating waste, improving quality and increasing efficiency. Improvement often associated with the Kaizen philosophy involves small incremental changes to processes over time. Both principles aim to enhance operations by identifying and addressing inefficiencies and bottlenecks. The second thing is analyzing processes for bottlenecks, inefficiencies and waste. Basically what are bottlenecks? Bottlenecks are basically points where works slowed down. So analyzing processes involves identifying bottlenecks, inefficiencies and various types of waste. Inefficiencies can mean waste effort or wasted efforts. Analyzing processes involves identifying bottlenecks, that is, points where works slow down, inefficiencies and various types of waste. Understanding these issues helps organizations pinpoint areas for improvement and implement changes to optimize processes. The third thing is implementing process optimization techniques, that is Six Sigma. Do not worry about the six, it's just, you know, they're actually five Sigma. Six Sigma is a data-driven methodology focused on minimizing defects and variations in processes. It involves defining, measuring, analyzing, improving, and controlling processes. Implementing Six Sigma techniques requires rigorous data analysis and structured program solving. The fourth thing we're talking about is measuring operational performance using KPIs and performance metrics. Key performance indicators, that is KPIs and performance metrics, are quantifiable measures used to evaluate the success of operations. They provide insight into various aspects of businesses such as efficiency, quality, customer satisfaction, and profitability. Monitoring KPIs and metrics allows organizations to track progress and make data-driven decisions for continuous improvement. Data tells students. Datas don't lie. When you have this matrix you can know what to do and what not to do based on the matrix that is the data that you have received from that is in your own business. That helps you make decisions you know going forward or doing some other thing to make changes name your business. And that's we all for today. See you tomorrow on our last class and our final class. Remember we're going to be having tests also tomorrow so get prepared. You can go over the things that we've talked about in this week just to get yourself prepared for tomorrow's model and test. See you.