Provident was mentioned in a BIV article this week about finding opportunities in the economic downturn. Specifically, the article referenced that we are working to implement lean (aka Toyota Production System) strategies to help ensure that we are operating in the most efficient manner possible.
Here’s an excerpt…
Provident Security CEO Michael Jagger has also instituted strategies to ensure optimal inventory control.
Most of Jagger’s “millions” in revenue come from providing security guard services, but he also sells burglar alarms, cameras and other security products.
He recently re-evaluated all inventory and found that he had too many of some products. He has since recalculated how much of each he needs and implemented a system to identify when to order more.
Instead of going to seminars to reflect on how to spot looming trouble, Jagger decided to split the cost of hiring a consultant with two friends who he knew from the Entrepreneurs Organization.
Jagger teamed up with Nurse Next Door co-founder Ken Sim and Garibaldi Glass co-owner Chris Mobius to hire lean manufacturing expert Jo Suria.
Lean manufacturing abides by the philosophy that spending resources on goals other than creating value for the end customer is wasteful and worth eliminating.
It’s sometimes called Toyotaism, because Japanese carmaker Toyota Motor Corp. has made it an operating mantra.
Metro Vancouver companies such as Delta fireplace manufacturer FPI Fireplace Products International have long used lean manufacturing consultants to ensure optimal productivity.
Said Jagger: “We’re working to engage our team members to understand the philosophy behind this stuff.”
Click here to read the full article.