All 4 entries tagged Asset
July 07, 2016
This a completely different blog, to what I usually write. I came across an interesting concept today, which involves a combination of literally everything I have learnt so far this year. I have learnt that improving a company internally by itself is simply not enough. Optimising and improving manufacturing processes and products is simply not enough. As excellence models suggest, this optimisation should occur through the full product life cycle, from suppliers till the final end consumer. This consequently suggests that some form of knowledge sharing should occur. The customers will be able to give views and feedback on the kind of product they desire, and the sort of needs they require the product to fulfil. In the context of my reading, this involved the carbon footprint of the product. Sometimes manufacturing processes are optimised to reduce environmental impact, but what is not taken into account is the impact that the final product has, when it is in the hands of the consumer/customer. An example of this are the famous trucks of the United States, the guzzlers as they are so known. They were designed optimally, the manufacturing processes had very little environmental impact. But the final product exceeded all savings and reductions.
Reading further, this is what the Design for Six Sigma base of Design for the Environment is all about. It is about considering final use environmental impact as well during design stages. And what an important role knowledge sharing plays here in support. Information must be retrieved from as many stakeholders as possible. This involves first creating support mechanisms to generate the knowledge, and a review and analysis of this data to ensure reliability. The final stage involves application, which starts the cycle again, moving from an external to internal structure, where now the suppliers as well as people within the organisation can now share the generated information and apply it. And the never ending cycle moves on…
June 12, 2016
I sat down to take a break from a very exhausting week, only to end up listening to one of my favourite songs - "What goes around.. comes around" by Justin Timberlake. What a title to sum up the end of my final module at WMG. The only thing I could think of was how something so small triggered so many other feelings inside me. It was a spark of creativity in my mind. Isn't this the sort of environment we have been learning to create? An environment where something is generated out of creativity and innovation, a significant portion of the topic of knowledge management.
So many companies out there are falling shy of their competitors by their lack of attention to innovate, perhaps due to the perception that this sort of competition is non-existent. But if they only care to look deeper into the minds of their people, their most valued assets, as well as their other physical assets, they will always see room for improvement. This is the theme that I have noticed having been subject to self-improvement over the last year. With the help of shared knowledge from my project supervisor as well as other practitioners in the field, I have been able to help my own family business better manage their assets and focus on the removal of waste in their manufacturing facility. This once again is a significant portion of the cycle of knowledge management. I could only help but relate this to the title of this entry - the knowledge that was generated and created could now be shared and distrubuted to better manage the assets of the firm. With how vast the range of assets can be, from health and safety to environmental management, these need to be supported with true leadership. Relationship-oriented leadership and transformational leadership are what I perceive to be a good combination of starting to form the necessary leadership characteristics to support adequate sustainable management.
From the point of view of many directors I have witnessed, their main focus is always on financial performance and obtaining physical assets. In my opinion, the greatest and most sustainable prospect is to utilise the knowledge management cycle, invest into people as their most valued asset, who can then drive the organisation towards better results, economically and socially.
June 07, 2016
I have nearly come to the end of my taught section of my master’s degree, and I must say, what a journey it has been. Not only in terms of friends and getting to where I am, but also in terms of what I have learnt. Sometimes I feel I have learnt more in the one year of doing my masters than I have my whole life. What a shocking thing to feel. Maybe it really is the environment in which I am learning. How knowledge is shared between friends and peers, as well as from experienced professionals and tutors.
I find myself linking things from everything I have learnt the whole year. Perhaps because the foundations of my learning are based on a very strong framework. I find myself linking design for six sigma to any situation where we deal with anticipation and prevention of risks and errors. This anticipation is evident in design for safety where it is absolutely crucial that no mistakes are made in regards to the safety of products. Another example is where we predict outcomes in order to try and remove any chances of negative outcomes after product launch, and incorporate the mechanisms for prevention in the design. In regards to knowledge management, this is only truly possible with adequate and reliable sharing, generation and evaluation of knowledge. Another example where this communication is needed is in the removal of wastes, as in the six sigma methodology. If wastes are noticed, but not communicated across to responsible managers, there is an evident lack of knowledge transfer in the organisation. Improving this will only result in more productivity and efficiency, leading to improved financial performance.
And once again, it always reverts to the very important role of leadership in governing, guiding and inspiring the rest of the organisation and others to achieve shared goals. In this case, it is the vision of a culture of learning, which is often regarded as a learning organisation. The learning never stops. It is a continuous cycle and there is always room for improvements and opportunities for learning, so the theory states. But practical cases suggest pretty much the same thing, so long as implementation is done correctly.
So how was I able to remember all this? I analyse this down to the very root in my opinion, that it is because I have been shown a different way of learning, a safe environment in which I feel comfortable to let my voice be heard. Somewhere I am able to learn from my colleagues with little/no judgement being passed. The experiences I have faced in this environment have led to a more relaxed way of learning, and hence transferring and sharing knowledge. Truly an ‘excellent’ journey.
June 02, 2016
One of the most common phrases spoken in the business world is "people are our greatest asset", a statement which, in my opinion, is never truly acted upon. The evidence points out that investment into people is often considered as a cost, and hence not truly implemented to the standard necessary.
Asset management has so many different definitions, all hovering around systematic activities and processes through which organisations optimally manage their physical assets and their associated performance. But who manages these assets? This task lies in the hands of the people within the organisations, with their own individual skill sets, combining together through teamwork and a shared understanding. This is the integration of adequate knowledge management to help support this. Knowledge management is the efficient handling of information and resources in the context of an organisation. Efficient, reliable management of this knowledge is necessary in order to be able to store and apply any generated information from anywhere in the organisation.
From my previous experiences, I usually find the majority of improvements to do with Asset Management in manufacturing (as an engineer) to have come from the operators/technicians and engineers themselves. They are the ones who experience problems and observe opportunities for improvements to processes and products as well. It is hence highly important that there is a channel and pathway mechanism in place for the transfer of this knowledge to other areas in the organisation. This knowledge front is often regarded as unimportant, and not enough emphasis placed on the benefits that this can provide to the organisation as a whole and to the individuals themselves. Taking note from Deming, this in effect will help break down barriers between departments and encourage two way communication, increasing effectiveness and productivity.
As Benjamin Franklin once stated: "An investment in knowledge always pays the best interest"..