Does Lean Reduce Cost? YES!
Taiichi Ohno stated: “costs do not exist to be calculated, they exist to be reduced”
A lean strategy does achieve significant cost reduction over time, the issue is conventional methods to measure cost reduction don’t usually work in a lean organization.
In this event you will learn how to use value stream income statements, value stream maps and improvement activities to identify specific costs that can be reduced and how to properly measure cost reduction in a lean organization.
In This Session You Will Learn…
- Learn how to associate costs with waste
- Learn the proper measurements of cost reduction for a lean organization
- Learn how a lean strategy creates long-term cost reduction
About the Facilitator:
Nick Katko is an early pioneer of Lean Accounting. In the 1990’s, as CFO of Bullard, he implemented a complete lean management accounting system in conjunction with Bullard’s Lean transformation, which included eliminating standard costing. Through this experience, Nick learned that existing management accounting systems and financial management practices for lean organizations must be made relevant to ensure the success of a lean strategy.
Nick joined BMA in 2002 and has leveraged his Lean Accounting experience and philosophy in assisting BMA clients in developing, leading and coaching them in their Lean Accounting transformations. He has also provided selected BMA clients with Lean Strategy and Lean Office guidance. Clients served range from organizations world-wide to family-owned businesses to multi-national companies in industries such as manufacturing, healthcare, software, engineering and service.
Nick is a regular speaker at the annual Lean Accounting Summit and has also presented at conferences in the United States, Europe, Asia and Australia as well as the author of “The Lean CFO” (2013), which has been translated into Turkish and Italian, and co-author of “The Lean Business Management System” (2007).
Nick is a Certified Public Accountant, has a BS in Accounting and MBA in Finance, both from the University of Kentucky. Nick lives in Lexington, Kentucky with his wife Deanna and their family.