Channel Title: Science of Business Inc - Theory of Constraints Channel Description: Welcome to the Science of Business YouTube Channel. Please leave your comments and questions below each videos. We read them all! We hope you enjoy our Theory of Constraints videos. We are TOCICO Certified Theory of Constraints Consultants specializing in highly custom job shops and machine shops. We have online coaching programs and offer RESULTS based consulting. This Channel hosts free training on Eliyahu Goldratt's Theory of Constraints (TOC) including: - Mafia Offers, Theory of Constraints Sales and Marketing, Competitive Advantage, Unique Selling Propositions - Throughput Accounting (TA) - Drum Buffer Rope (DBR) and Simplified Drum Buffer Rope (SDBR) - Critical Chain Project Management (CCPM) - Theory of Constraints Thinking Processes - Theory of Constraints Replenishment - The Goal book by Eliyahu Goldratt - It's Not Luck book by Eliyahu Goldratt To learn more, check out the links below! <video> INTERVIEW: Jeff Cox, co-author of The Goal along with Eliyahu M. Goldratt Description: In this interview Jeff Cox shares his experience in writing The Goal with Eliyahu M Goldratt. Circa 2009, not sure who the interviewer is. If you'd like to implement the Theory of Constraints concepts from The Goal in YOUR shop, visit https://www.VelocitySchedulingSystem.com </video> <video> APICS Theory of Constraints Case Study - West Tape and Label, Brad Stillahn Description: Visit https://VelocityPricingSystem.com if you're interested in increasing profits like Brad did. Brad"s Bio: https://velocitypricingsystem.com/about/#brad -- TRANSCRIPT: It's an all too familiar scenario for small manufacturing firms. The company is hemorrhaging money and the bank is about to cut off its credit. The owner knows that his business will go under unless he starts making a profit now. But how In the case of a Denver company, west Tape and Label, the answer was workplace education and training in cutting edge management techniques. The printing presses at West Tape are cranking out profits. Today because of a management symposium sponsored by APICS, Brad Stillahn says that education saved his company. "Back in 94, we were going to be going out of business. The educational process, particularly through the symposium on Constraints Management, gave us the opportunity to learn very quickly what set of steps we needed to do. Simple, straightforward steps to implement that turned the company around within a matter of a month." Brad Stillahn has a passion for constraints management. Using this principle, he put two operators instead of one at his printing presses that gave him the ability to increase production capacity 300%. According to Stillahn "Constraints management is unique because it's focused on the goal of making money. Everything else I've ever learned, any other management philosophy does not have as its goal. Making more money." Carol Ptak "And everything we teach and train helps improve efficiency, helps improve productivity, and helps improve the bottom line. You can buy the best technology. You can buy the best computers. You can buy the best robotics. You can buy the best machinery. But if your people don't understand the what and the why, then it's not gonna give you the kind of return on investment that you're spending your very hard earned dollars to buy. And that's what the APICS organization's all about. It brings that what and the why and makes a difference on the bottom line of a company." APICS has helped the bottom lines of a lot of companies. The not-for-profit professional society has provided educational and training programs to employees and corporations ranging from Boeing, IBM, AT&T Caterpillar, Dow Chemical, Eastman Kodak, Hewlett Packard, and Starbucks and many smaller firms. -- Success Stories: https://velocitypricingsystem.com/success-stories/ The goal is to add 10% to return on sales. Are you ready? Sign up for a free strategy session today to see if your company is a good fit. https://velocitypricingsystem.com/contact/ </video> <video> Sales Rep PROBLEMS: Why do sales reps bring me jobs that are NOT a fit? Description: Why do sales reps bring me jobs that are NOT a fit for my job shop or machine shop? This video answers that question. It is an excerpt from this video Q&A: https://www.youtube.com/watch?v=dH0Y_GLtFjU Follow us on twitter: https://x.com/TOCExpert Follow Dr Lisa on LinkedIn: https://www.linkedin.com/in/theoryofconstraints/ </video> <video> Introduction to Theory of Constraints on #USAMfgHour Hosted by Dr Lisa Lang Description: INTRODUCTION TO THEORY OF CONSTRAINTS - a tweeter chat! Welcome! I’m “Dr Lisa” Lang from www.ScienceofBusiness.com. I’m excited to be talking #TheoryofConstraints today and to be hosting #USAMfgHour! Please introduce yourselves! Remember to use the #USAMfgHour hashtag in your replies and use A1, A2, A3, etc in your answers! Q1 #USAMfgHour : Have you read The Goal by Eliyahu M Goldratt? If you did, did you like it, love it, or not groove with the novel format? A1 #USAMfgHour : The Goal is estimated to be the most read business book in the world. It’s worth a read if you haven’t read it or a re-read if you have! https://www.amazon.com/dp/0884271781?tag=thescienceofb-20&camp=14573&creative=327641&linkCode=as1&creativeASIN=0884271781&adid=1JPSDSET8WPJHZQ6YCFV& Or you can read a SUMMARY here: https://www.velocityschedulingsystem.com/blog/the-goal-book-eliyahu-goldratt/ Q2 #USAMfgHour : What’s the goal of YOUR business? A2a #USAMfgHour : The GOAL for profit businesses is to make money. For some that may mean achieving or maintaining a certain profit level. Others may want to increase profits by 10% every year. It’s important to understand YOUR goal. A2b #USAMfgHour : It’s common for business owners to state their goals as something other than making money but typically they are stating necessary conditions to making money. Q3 #USAMfgHour : What’s keeping YOU from achieving more of your goal? What’s your constraint? A3a #USAMfgHour : Your constraint is relative to your goal. E.G. The goal of a chain is to hold the maximum amount of weight possible, so the constraint is the weakest link. What’s keeping YOU from making money? That’s YOUR constraint. A3b #USAMfgHour : Is your constraint internal (a process step) or external (E.G. sales, an outside process, raw material)? To check your answer, ask: if I magically had 20% more of what you think your constraint is, would my profits increase by 20%? https://www.velocityschedulingsystem.com/blog/drum-buffer-rope/ A3c #USAMfgHour : Most (about 80%) manufactures have an internal constraint. And interestingly, most job shops (custom manufacturers) find that their constraint moves based on their mix of work. https://www.velocityschedulingsystem.com/blog/drum-buffer-rope/ A3d #USAMfgHour : If you have a hockey stick on your monthly shipments graph – meaning that most of your shipments happen the last few days of the month – you have an internal constraint! https://www.velocityschedulingsystem.com/blog/how-to-recession-proof-your-job-shop/ Q4 #USAMfgHour : All resources that aren’t your constraint, are non-constraints. If you improved a non-constraint, would you achieve more of your goal? A4a #USAMfgHour : No. That’s why many “improvements” DON’T result in adding to the bottom-line. To improve  FOCUS on & LEVERAGE your constraint! A4b #USAMfgHour : An hour added on your constraint is an hour added to your bottom-line. But saving setups at non-constraints doesn’t pay off. Q5 #USAMfgHour : Policies, procedures and measures drive behavior. Do you think efficiency should be a key measure? A5a #USAMfgHour : Your CONSTRAINT limits your output, all other resources are non-constraints and have excess capacity (by definition). Striving to be efficient EVERYWHERE is unproductive. https://www.velocityschedulingsystem.com/blog/job-shop-scheduling-the-secret-to-getting-on-time-reducing-lead-times/ A5b #USAMfgHour : Efficiency should only be measured at the constraint. If a non-constraint is efficient, you’re just increasing WIP. Q6 #USAMfgHour : What was YOUR key takeaway or ah-ha during this Introduction to the #TheoryofConstraints? A6 #USAMfgHour : Next step, put your take-aways into action! *Results from https://www.velocityschedulingsystem.com #USAMfgHour Thank you all for coming! I had a great time guest hosting! I tweet a #TOCtip of the day at https://twitter.com/TOCExpert and on LinkedIn at https://www.linkedin.com/in/theoryofconstraints/ </video> <video> 10 #TheoryofConstraints Tips - Join Dr Lisa Lang daily for a #TOCtip Description: The first 10 of over 500 Theory of Constraints Tips are shared. If you'd like a daily #TOCtip, follow Dr Lisa on Twitter, LinkedIn, or Facebook. https://twitter.com/TOCExpert https://www.linkedin.com/in/theoryofconstraints/ https://www.facebook.com/ScienceofBusiness </video> <video> Theory of Constraints Chain Analogy - 5-minute Maximizing Profitability EXCERPT Description: The chain analogy is often used in helping people understand Dr Eliyahu M Goldratt's Theory of Constraints. There's more to the Theory of Constraints chain analogy than you might think. Listen to a leading TOC expert, Dr Lisa Lang, explain it. Watch the full 3-hour Maximizing Profitability Theory of Constraints workshop at https://www.MaximizingProfitability.com </video> <video> Success with Sales Reps - Unlocking SUSTAINABLE Growth Description: Do you have a sales constraint? If you have excess manufacturing capacity, you have a sales or marketing constraint. A question I typically ask is if I waved my magic wand and increased your sales by 20%, could you handle it without a lot of overtime and chaos? If your answer is no, you likely have an internal manufacturing constraint, and you may want to check out www.VelocitySchedulingSystem.com. If your answer is yes, you have a sales or marketing constraint. I have helped many companies create "mafia offers". But having an offer does not ensure you're getting your offer in front of enough prospects. One approach to getting in front of more prospects is to use sale reps ... BUT there are tons of issues with that. Many of the shops I've worked with have tried the sales rep route only to be disappointed. The challenge in utilizing sales reps are many: - How do you attract the best? - How do you interview to make sure of fit? - How do you train them, so they only bring jobs that are a good fit? - How should they be compensated? - How do you manage them? - How do you ensure results? Often if the rep doesn't work out, you're out a lot of time and cash. I recently connected with Josh Long, author of Bottleneck Breakthrough, and he really gets the challenge of managing sales reps, while also knowing how much they can unlock growth for the right businesses that are at the right stage to handle them. I found his approach refreshingly different and thought you all might benefit from his perspective. I asked him to share his framework with our little job shop world. In this video Josh covers: • The biggest pitfalls small business owners fall into when adding sales reps to the team and how to avoid them. • How to build a sustainable approach that doesn’t cost a fortune across marketing, sales, and their systems to win sales today. • How to manage sales reps successfully, without burning them out or having to put up with their excuses. • Three keys to recruiting sales reps that perform and add value to your business from day 1. And at the end I asked Josh what to do about sales reps who bring jobs that are NOT a good fit. Need to improve operations? https://www.VelocitySchedulingSystem.com Need a mafia offer? https://www.MafiaOfferBootCamp.com </video> <video> The Fastest Way to Increase Cash Flow (a Theory of Constraints Approach) Description: In this 2009 Vistage Webinar Dr Lisa Lang covers the Theory of Constraints Throughput Accounting approach to understanding cash flow. When the video quality is not great, the content is still spot on in 2023! The get the accompanying free CASH report, visit: https://www.scienceofbusiness.com/vistage-webinar/ To learn YOUR real numbers; https://www.scienceofbusiness.com/cash-velocity-workshop/ Dr Lisa Lang is the author of Increasing Cash Velocity: The Theory of Constraints Approach to Increasing Cash Flow. You can check that out here: https://www.scienceofbusiness.com/by-dr-lisa-lang/increasing-cash-velocity/ To learn more about mafia offers, check out Dr Lisa's ebook: https://www.scienceofbusiness.com/by-dr-lisa-lang/mafia-offers-ebook/ </video> <video> Does Lean Manufacturing Work in Job Shops and Machine Shops? Description: Read the entire Lean Manufacturing article: https://www.velocityschedulingsystem.com/blog/lean-manufacturing-work-job-shops/ </video> <video> Building Mafia Offer for SMBs with Mafia Marketing Description: In this “Building Mafia Offers for SMBs” presentation, Dr Lisa will cover what a Mafia Offer is and how it’s different from a unique selling proposition, value proposition or competitive advantage. An example will be given and Dr Lisa will discuss the 3 key steps for developing your own Mafia Offer. If you don’t have an answer to “why should I buy from you” and you need to increase your sales — don’t miss this presentation. This 40 minute video provides an overview of my ebook Mafia Offers: Dealing with a Market Constraint which is Chapter 22 in the Theory of Constraints Handbook. The ebook is available on here: https://www.scienceofbusiness.com/by-dr-lisa-lang/mafia-offers-ebook/ </video> <video> Goldratt Answers: What is different about Theory of Constraints (TOC)? Description: Is this video Dr Eliyahu M Goldratt answers a question from the audience on "What is different about Theory of Constraints?" If you're ready to put the power of Theory of Constraints to use in your company, please visit: https://www.VelocitySchedulingSystem.com https://www.VelocityPricingSystem.com https://www.ScienceofBusiness.com If you liked this video, you may also like this playlist of Goldratt videos: https://www.youtube.com/playlist?list=PLZCZm7iUVzhh4T578CeE-hKF3BALJ_A19 </video> <video> Critical Chain Project Management BUILDING PROJECT NETWORKS | Theory of Constraints Mini-Masterclass Description: In this Theory of Constraints mini-masterclass we cover Critical Chain Project Management (CCPM) and building project networks. Understand Why Agile, Scrum, Critical Path and ALL the Common Project Management Methods FAIL and The One Thing You Can Do To Turnaround Struggling Projects Like a True Superhero! In this Theory of Constraints Mini-Masterclass you will learn: – The fatal flaws impacting ALL project management methods. – The problems stemming from this fatal flaw. – Why Agile, Scrum, Lean and the Critical Path Method fail. – The one thing you can do to substantially improve your project performance. – And, how to GET STARTED tomorrow! This is a video script Dr Lisa Lang wrote for Exepron. This was her first pass draft. If you enjoy it, please like and subscribe! You can sign up for a free trial of Exepron's Critical Chain software at our affiliate link: https://www.secureinfossl.com/affProgram/Gold-Affiliate-Program/76255 Or, sign up for a no charge strategy session with Exepron at https://www.secureinfossl.com/affProgram/Strategy-Session-SoB/76255 If you'd like to talk to Dr Lisa about your situation and the right fit for you, fill out this form: https://www.scienceofbusiness.com/contact-us/ </video> <video> Reduce Setup Times to Increase Flow & Productivity in Job Shops - F1 pit stops 1990 to 2023. Description: This video shows how it's possible to reduce setups. F1 pit stops went from 8.95 seconds in 1990 to 1.78 seconds in 2023. To learn the Step-by-Step Setup Reduction for Job Shops, visit: https://www.velocityschedulingsystem.com/blog/step-by-step-setup-reduction-for-job-shops/ I often hear job shops explain that they can't increase FLOW & productivity because they have long setups. We've found that all setup times can be reduced & flow can be improved. There's no magic wand, just Velocity Scheduling System. #mfg #manufacturing #lean #theoryofconstraints #cnc #cncmachining #fabrication #titansofcnc #cncmachinist #machining #machinery #engineering #aerospace #cncmill #cnclathe #cncprogramming #machineshop #edm #grinding #innovation #technology #lathe #mill #industry #jobshop </video> <video> National Tooling & Machining Association NTMA Keynote - Maximizing Profitability in Uncertain Times Description: National Tooling and Machining Assocation NTMA keynote speech titled — Maximizing Profitability in Uncertain Times. What's covered? - how to increase sales with Theory of Constraints and a Mafia Offer; - why operational improvements are needed to deliver the offer; and - how you have to challenge your thinking to put this all together to really MAXIMIZE your PROFITS. Dr Lisa was the last keynote at the event so she also summarized the messages from the other speakers. she got some great feedback so you don’t want to miss this! Dr Lisa's 3 hour maximizing profitability workshop: https://www.scienceofbusiness.com/maximizing-profitability/ if you're a custom manufacturer ready to improve, check out: https://www.velocityschedulingsystem.com/ and https://velocitypricingsystem.com/ https://www.scienceofbusiness.com/mafia-offer-boot-camp/ </video> <video> Formula 1 Setup Reduction 1950 to 2013 Description: Think Setup Reduction is not possible in your shop? Check out how much Formula 1 has changed! To learn the Step-by-Step Setup Reduction for Job Shops, visit: https://www.velocityschedulingsystem.com/blog/step-by-step-setup-reduction-for-job-shops/ If you need to increase the speed in your shop? Check out https://www.velocityschedulingsystem.com/ for custom job shops and machine shops. Here's another Formula 1 setup reduction video covering 1990 to 2023: https://www.youtube.com/watch?v=RBtqyz0gbDI Footage in this video from : • https://www.youtube.com/watch?v=RRy_73ivcms • https://www.youtube.com/watch?v=aHSUp7msCIE&t Source Video used under the Fair Use Provision. </video>

Contacts and Links

Description

Welcome to the Science of Business YouTube Channel. Please leave your comments and questions below each videos. We read them all!

We hope you enjoy our Theory of Constraints videos. We are TOCICO Certified Theory of Constraints Consultants specializing in highly custom job shops and machine shops. We have online coaching programs and offer RESULTS based consulting. This Channel hosts free training on Eliyahu Goldratt's Theory of Constraints (TOC) including:
- Mafia Offers, Theory of Constraints Sales and Marketing, Competitive Advantage, Unique Selling Propositions
- Throughput Accounting (TA)
- Drum Buffer Rope (DBR) and Simplified Drum Buffer Rope (SDBR)
- Critical Chain Project Management (CCPM)
- Theory of Constraints Thinking Processes
- Theory of Constraints Replenishment
- The Goal book by Eliyahu Goldratt
- It's Not Luck book by Eliyahu Goldratt

To learn more, check out the links below!

Videos from channel