With all the noise and rhetoric in the current environment, it’s challenging to determine if we’re in a period of stagnation, economic growth or decline. It depends on which ‘experts’ you’re listening to, but the following is, nonetheless, true.
Manufacturers want to make the most of improving conditions; they want to re-energize their companies to take full advantage of the marketplace, which is especially true in a robust economy when opportunities present themselves. However, being ready to take advantage of the market can lead to waste due to overproduction, one of the eight wastes which adds no value but detracts from profitability, which can lead to a significant cost disadvantage.