Making it in the Competitive World

This article explains a logical, seven-step approach that helps to solve problems of on-time product and service delivery with profit. The first step is to obtain product specifications. The next step is to design a method for producing the product, including the design and purchase of equipment and production processes, if required. Scheduling for production is the coordination step; if not done well, it will spell doom for the company. Coordination is the key to purchasing raw materials in accordance with the schedule. Next is the transformation phase of raw materials to finished product—actual factory production—which is commonly called the value-added step. The quality assurance phase of monitoring results for technical compliance and cost control is an ongoing process of constant vigilance and continuous improvement. This step seeks to ensure that the product or service is being provided in accordance with the plan, a plan that includes technical, schedule, and cost goals. The best companies use total quality management (TQM), whereby improvement is continuous, as exemplified symbolically by the TQM triangle.