At the end of this article I reckon I might be able to answer my own question.
The team and I were talking the other day about how hard it is to get real data that can be used for bench-marking equipment performance. It can be expensive and not always reliable. So I thought I would test the theory that most people have the same problem and most people hold a small piece of data about their own equipment that would help complete the overall puzzle for everyone.Yes, you are reading this right, procostination, not procrastination is most likely stealing value from your business. What is procostination? It is (apart from a word i made up) the action of delaying or postponing spending money on something that will deliver value. I am sure you have countless examples of where you have seen this or even done it yourself.
Anyone who has done FIFO or DIDO probably has countless stories about their camp experiences. Equally positive and negative I am sure.
Having spent over a decade doing FIFO myself I was recently reflecting in a discussion, with a new graduate on what my experiences were like.If you shut your eyes for a second and visualise this, a person trying to stuff an octopus into a suitcase. Arms going everywhere, a few arms go in and then others come out, trying to close the lid, it is just not going to happen. Have you ever been so busy that you feel like this could be you, or are there people in your office that are like this all the time?
Making decisions is a critical part of running any business, the success of your company depends on it. Most situations are not necessarily black or white; there is often greyness in issues you confront on a daily basis. Getting comfortable with the greyness or uncertainty in any choice is key to maintaining momentum.