PROCESS MANAGEMENT GLOSSARY

What is Operational Excellence?

Operational excellence is a business strategy that focuses on the continuous improvement of processes, products, and services in order to achieve superior efficiency, quality, and customer satisfaction. This approach can help a company in many ways, including reducing costs, increasing productivity, and improving the overall customer experience. By implementing operational excellence, a company can gain a competitive advantage over its rivals and achieve long-term success in the marketplace.

There are many different methods that organizations can use to achieve operational excellence. Some common examples include:

  • Lean: This method focuses on reducing waste and increasing efficiency by identifying and eliminating non-value-added activities in the production process.
  • Six Sigma: This method aims to reduce defects and improve quality by using data-driven techniques to identify and eliminate sources of variation in processes.
  • Total Quality Management (TQM): This approach emphasizes the importance of continuously improving the quality of products and services in order to meet and exceed customer expectations.
  • Continuous Improvement: This method involves making small, incremental changes to processes, products, and services on a regular basis in order to improve performance and efficiency.

These are just a few examples of the many different methods that organizations can use to achieve operational excellence. The specific approach that a company chooses will depend on its unique needs and goals.


Source: Wikipedia