BIZweek n°231 9 mar 2019
BIZweek n°231 9 mar 2019
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  • Parution : n°231 de 9 mar 2019

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 12

  • Taille du fichier PDF : 4,8 Mo

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SAMEDI 09 MARS 2019 BIZWEEK ÉDITION 231 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Figure 3. Wage growth has pickedup, but it is still moderate Percent change from year earlier 7.0 Nominal compensation Avg. hourly earnings, prod. workers Employment cost index (ECI) Avg. hourly earnings, all workers 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 Source  : Bureau of Labor Statistics. 2018:Q4 Percent change from year earlier 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 -0.5 Figure 4. Inflation is running near target Percent change from year earlier 6.0 5.0 4.0 3.0 2.0 1.0 0.0 -1.0 -2.0 1990 1992 1994 1996 Source  : Bureau of Economic Analysis. Total Core 1998 2000 PCE inflation 2002 2004 Real compensation 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2006 2008 2010 2012 ACTA PUBLICA ECI less core PCE inflation Figure 5. Both labor supply and productivity growth have slowed Figure 6. Youth labor force participation has declined as more go to school Percent 75 70 65 60 55 50 Average annual percent change 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 Source  : Congressional Budget Office. Labor force participation, ages 16 to 25 Total Male Female 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 Components of GDP growth 2014 1974–81 1982–90 1991–2000 2001–07 2008–18 Business cycle 2018:Q4 Percent 60 50 40 30 20 10 0 School and work by youth Working Enrolled, not working Productivity Labor 2016 Not enrolled, not working 2018 2018:Q4 Enrolled, working 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 Nov. Note  : Work includes both working and looking for work. Source  : Bureau of Labor Statistics. Source  : Bureau of Labor Statistics. Figure 7. Male labor force participation has declined for decades Male labor force participation, ages 25 to 54 Percent 100 98 96 94 92 90 88 86 84 82 80 Percent 100 98 96 94 92 90 88 86 84 82 80 Figure 9. Decline in LFPR most notable at lower levels of education attainment Male labor force participation by educational attainment, ages 25 to 54 Percent 100 95 90 85 80 75 Bachelor’s degree High school degree Some college Less than high school degree 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 Source  : Bureau of Labor Statistics. Female labor force participation by educational attainment, ages 25 to 54 Percent 90 85 80 75 70 65 60 55 50 45 40 Figure 10. Productivity growth has slowed Percent change 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 -1.0 -2.0 -3.0 Trend  : -1.5ppt per decade 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2018 Business-sector productivity growth Bachelor’s degree Some college High school degree Less than high school degree 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 5-yr average* 4-quarter 1961-2018 avg. 2018:Q3 1961 1964 1967 1970 1973 1976 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 *Centered 5-year moving average through 2015, trailing average thereafter. Source  : Bureau of Labor Statistics. Female labor force participation, ages 25 to 54 Percent 80 75 70 65 60 55 50 45 40 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Source  : Bureau of Labor Statistics. Source  : Bureau of Labor Statistics. Figure 8. U.S. prime age labor force participation is relatively low Male 2017 1995 Czech Republic Japan Switzerland Mexico Iceland Sweden Slovenia Hungary Estonia Slovak Republic New Zealand Greece France United Kingdom Portugal Austria Spain Germany Luxembourg Latvia OECD countries Netherlands Chile Turkey Canada Poland Korea Australia Belgium Finland Denmark Ireland United States Italy Norway Israel ↓ Percent 100 90 80 70 60 50 40 Female 2017 1995 2015 2018 Slovenia Sweden Iceland Portugal Switzerland Latvia Austria Luxembourg Finland Estonia Norway Canada France Denmark Germany Czech Republic Netherlands Spain New Zealand United Kingdom Hungary Slovak Republic Belgium Israel Poland Australia Japan Greece United States Ireland OECD countries Chile Italy Korea Mexico Turkey Source  : Organisation for Economic Co-operation and Development, Labour force statistics by sex and age 25 to 54 (indicators). https://stats.oecd.org/Index.aspx ? DataSetCode=LFS_SEXAGE_I_R (Accessed on 25 February 2019). ↓ 8
SAMEDI 09 MARS 2019 BIZWEEK ÉDITION 231 POST SCRIPTUM How can an organisation produce faster, with less effort and more inspired people by implementing LEAN ? How can we better manage customer expectations and improve quality ? How can we shortenup our process timescales ? How can we optimise the way our teams work ? These are some of the key questions most organisations are confronted with every day - and answer with more or less success. But what if all these questions could be addressed with one word only  : ‘LEAN’LEAN Thinking is a philosophy – a way of thinking that originated within the manufacturing industries and has since been adopted by public and private service organisations to better manage their processes and make their organisations more competitive. But what does ‘being LEAN’really mean and how can you apply this way of thinking to improve your own organisation ? LEAN is a systematic method for waste minimization ("Muda") within a manufacturing system and service organisation without sacrificing productivity, which can cause problems. To accomplish Zero-waste with the view to provide perfect value to customers through a perfect value creation, LEAN thinking changes the focus of management from optimizing separate technologies, assets, and vertical departments to optimising the flow of products and services through entire value streams that flow horizontally across technologies, assets, and departments to customers. Eliminating waste along entire value streams, instead of at isolated points, creates processes that need less human effort, less space, less capital, and less time to make products and services at far less costs and with much fewer defects, compared with traditional business systems. LEAN is also a powerful staff engagement tool as it seeks to equip them with the skills and methods to solve their own problems, thus increasing their morale and engagement within organisations. LEAN means many different things to many different people but today’s LEAN thinking as we know it is built around 5 main principles  : 1. Identify value in the eyes of the customer Contrary to what many believe, LEAN is not a set of tools organisations use to downsize their organisation and reduce costs by all means. LEAN is about creating value for your customers and this starts by understanding what your customers truly want. Do you often ask yourself customer related questions such as  : What do our customers expect from our services ? What do they really value ? What would they be prepared to pay for ? 2. Identify the value stream What are the steps required, end-to-end, to satisfy a customer requirement ? A value stream consists of all of the blocks of activity or processes required to design, order and provide a specific product, from concept to launch, order to delivery into the hands of your customers. and flagging the ones that seem to take too much time. 3. Make the remaining steps flow Mapping your value streams Reducing hand-offs or automating mundane and repetitive tasks Analyse a value stream with a view to reducing timeframes Identify areas of cost improvement, Would our customers be prepared to pay for this ? Does this activity consume resources but adds no value to our customers ? Is this an activity our customers would consider as waste but that we still have to action (e.g. regulation) ? 4. Have the right resource at the right time Producing to customer demand is vital to maximise your resources. Is there a seasonality pattern we can associate with our services/products ? Can we rely on historic data to backup our findings ? How easy would it be to cross-train our teams to ensure we maximise our resources based on customer demand ? How does this seasonality pattern affect other parts of our organisation (think for example support departments such as customer services, finance teams but also returns) ? Putting your customers at the centre of everything you do also means organising your production, your stocks, your back-office resource around these needs to be more efficient and effective, to the direct benefit of your customer and your organisation. 5. Aim for perfection Whilst we should always try to improve everything, we do to satisfy our customers and in turn make our organisations more efficient, it is important to note that as customer expectations evolve constantly, this search for perfection cannot end – organisations can only move closer to perfection with a view to becoming more competitive by offering a better service/product to their clients. LEAN system is affiliated with the Lean Competency System (LCS) from the prestigious Cardiff University in the United Kingdom. Designed as a progressive system, the LCS is the only university accredited framework to qualify individuals based on their knowledge and practical application of Lean competency. At the end of a LEAN workshop programme, delegates can sit a multiple-choice test and if successful with gain formal Lean Certification at level 1a of the LCS. LEAN Thinking, when applied correctly, has many benefits for both manufacturing and services organisations. Enrol on our LEAN Thinking Workshop to find out more about this methodology and start to learnan improvement mindset – link to the website/online brochure Woolich Education  : 18 Deschartes Street Port Louis. Info@woolicheducation.com. www.woolicheducation.com Tel. 5779 1542 9



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