Experience Boosts Bottom Line Profit

Job Plan, Training Experience Boost Bottom Line Profit

By Eugene Peterson

If your team learns to do their jobs faster, with fewer errors and with clockwork precision, your company has the potential to increase profit.  Southwest Airlines, for example, has set the standard for maximizing assets, by keeping ground time to a fraction of what other major airlines require to discharge and load passengers.  They have recognized that they optimize profits when their planes are in the air, not on the ground. They do that by shortening the pit stop, keeping ground time to a minimum.  Your company loses profit when you have poor labor efficiencies, errors and mistakes. Your company can minimize ground time (time on the job), poor labor efficiencies, errors and mistakes through a series of good business practices.
1. Job Plan and Schedule
2. Expectations
3. Training
Remember, when your team minimizes errors and mistakes, the company saves the expense of warrantee repair, and those savings go directly to the bottom line. And when you increase productivity and turn your product quicker, the result is increased profit. Understanding this principle can make the difference between a good year and one that is not so memorable.