The Primary Drivers for Continuous Improvement: The Reduction of the Triad of Waste

Continuous improvement thrusts have become common organizational phenomena in the past decade. Intense competition, abetted by free markets, globalization, trade liberalization, and technology enhancements, has relegated comparative advantage to a temporary status. The prevalent view is that the status quo is a terminal malady with potentially dire consequences, so the performance envelope must be in an expansionary mode to add more value to targeted customers. This article discusses generic continuous improvement thrusts that are predicated on waste identification/reduction and devised to target the improvement journey. It outlines reductions in valueless time, valueless activity, and valueless variance as the primary drivers for continuous improvement. By focusing on the reduction of the triad of waste, this article highlights areas of process improvements that strengthen competitiveness without requiring significant capital investment.