Please give specific real world examples. Everyone hates to wait to receive thei
ID: 464293 • Letter: P
Question
Please give specific real world examples.
Everyone hates to wait to receive their service or product. From waiting in line at the supermarket, to waiting for packages to arrive, customers simply don’t like to wait. Today’s fast paced society has become even less tolerable to delays then ever before. As a manager (of anything you choose) why is it important to eliminate/minimize wait times? How does increased wait times waste money or cost you business? How can you determine steps in your business's process that are wasteful? Please give specific real world examples.
The perfect example is Netflix and the ability to stream them directly to your home. A decade ago, Blockbuster was the king and now they are all but gone.
Explanation / Answer
It is important that eliminate waste time as customers do not like wait. they may prefer vendors which has no or very less wait time. In this manner it will cost us business. The wait time is proportional to customer dis-satisfaction and hence we will lose our customers.
The steps to determine wasteful time in process in as follows:-
1. Find the cycle time of service/product and then see which process has highest bottlenecks.
2. Analyse bottleneck processes and see if we can reduce it or avoid it.
3. Replace the process or bypass the process and see if cycle time is increasing or not
4. The steps whose replacement helps to reduce time is the wasteful process.
Blockbuster has wasteful steps like
1. Customer has to go to store and search for DVD
2. There are limited number of DVDs and hence customer has to wait if all DVDs have been taken
3. Netfilx doesnot have limit on copies. Multiple subscribers can see the movie at same time or multiple times
4. The viewing speed is proprtional to streaming speed. The wait is not at business side.